The combined company, to be named Civitas Resources, will be the largest pure-play energy producer in Colorado’s Denver-Julesburg Basin, with an aggregate enterprise value of approximately $2.6 billion.
In addition to the Sabalo deal, Laredo Petroleum also agreed to a partial sale of operated PDP reserves in gas-weighted legacy assets in Reagan and Glasscock counties, Texas, for $405 million.
EQT projects the acquisition, which adds a new operating position in the northeast Marcellus Shale play in Pennsylvania, will increase its free cash flow by 55%, or $2 billion, through 2026.
Here’s a snapshot of recent energy deals including a Bakken deal between Oasis Petroleum and Diamondback Energy plus the sale of Hunt Oil’s Permian Basin asset in a transaction believed to be worth over $1 billion.
Today’s featured 25 Influential Women in Energy honoree is Melinda Faust, managing director at Detring Energy Advisors based in Houston.
The acquisition of Chorus Logistics enables W Energy Software customers to manage their transportation needs across any mode—pipeline, truck, rail, vessel or barge—through a best-in-class transportation management system.
Chevron set a May 20 deadline for bids on Permian Basin acreage holding more than 1,000 producing wells with $1.1 million in combined monthly revenue, according to a sales document.
In addition to the sale of the Bakken assets it acquired in its merger with QEP, Diamondback also announced the $84 million sale of “noncore” Permian Basin assets.
Diversified Gas & Oil has actively been evaluating a variety of regions to identify the optimal area to replicate its success in Appalachia Basin, which the company’s CEO says it has now found in its latest deal with Indigo Minerals.
Despite the divestiture to Enerplus, Hess CEO John Hess reaffirmed the importance of the Bakken in the independent E&P company’s portfolio, which includes assets offshore Guyana.