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Acquisitions & Divestitures
Shale Plays , Acquisitions & Divestitures
Sitio Royalties Unveils Pair of Permian Basin Acquisitions Worth Nearly $550 Million
On June 27, Sitio Royalty said it completed the acquisition of Permian Basin acreage from Foundation Minerals for approximately $323 million and entered an agreement to acquire additional Permian acreage from Momentum Minerals for $224 million.
June 27, 2022
Shale Plays , Acquisitions & Divestitures , Gathering & Processing
DCP Midstream Expands Permian Basin Footprint with $160 Million Bolt-on Acquisition
Denver-based DCP Midstream recently agreed to acquire the James Lake System from Woodland Midstream II, which increases DCP’s gathering capacity in the Permian Basin.
June 27, 2022
Acquisitions & Divestitures , Trends , Mergers
Oil and Gas M&A Set to Rebound After Slow Start
Worries over the U.S. economic outlook and geopolitical unrest, particularly the Russian-Ukrainian war, slowed oil and gas deal activity in the first half of 2022, PwC said.
June 23, 2022
Public Capital , Acquisitions & Divestitures
Buffet’s Berkshire Hathaway Buys More Occidental Petroleum Shares
Warren Buffett’s Berkshire Hathaway also spent $51.1 billion on equities in the first quarter, including an increased $25.9 billion stake in oil company Chevron Corp.
June 23, 2022
Acquisitions & Divestitures , Trends , Mergers
Energy A&D Transactions from the Week of June 22, 2022
Here’s a snapshot of recent energy deals including Targa Resources’ $3.55 billion cash acquisition of Lucid Energy Group in the Permian Basin.
June 22, 2022
Public Capital , Shale Plays , Acquisitions & Divestitures
Analysts: Hamm’s Offer to Continental Points to Industrywide Undervaluing of E&Ps
Continental Resources’ founding family said it’s prepared to leave the public market to pursue a more flexible and nimbler path as a private operator.
June 22, 2022
Private Equity , Shale Plays , Acquisitions & Divestitures
Spicewood Mineral Partners Closes Initial $250 Million Fund Above Target
Spicewood announced the final closing of Spicewood Mineral Partners LP with total capital commitments exceeding its target of $200 million.
June 21, 2022
Private Equity , Shale Plays , Acquisitions & Divestitures
Double Eagle Launches New Venture with Over $1.7 Billion from EnCap, Others
Double Eagle Energy’s latest venture will pursue a similar strategy in the Permian Basin that led to the success of the predecessor companies, but on a “considerably larger scale,” according to the release.
June 20, 2022
Private Equity , Shale Plays , Acquisitions & Divestitures
From Bakken to Haynesville: Riverbend Sells Nonop Assets for $1.8 Billion
Riverbend Energy Group had assembled the nonop acreage since 2016 through three funds; it retains assets in the Permian’s southern Midland Basin.
June 16, 2022
Company Profiles , Acquisitions & Divestitures , Trends
Executive Q&A: Northern CEO Nick O’Grady and the Zen of A&D
Following a recent $170 million Williston acquisition, Northern Oil and Gas CEO Nick O’Grady weighed in on Bakken versus Permian M&A, the impact of inflation on deals and the dealmaker’s mantra of being ‘OK to lose.’
June 15, 2022