Acquisitions & Divestitures

People , Acquisitions & Divestitures

On the Move (Week of Sept. 20, 2021)

New hires, promotions and appointments continue to fuel the industry's workforce.

September 20, 2021

Public Capital , Shale Plays , Acquisitions & Divestitures

Shell to Exit Permian Basin in $9.5 Billion Sale to ConocoPhillips

Shell reached an agreement for the sale of its Permian Basin business to ConocoPhillips for $9.5 billion in cash, confirming rumors the supermajor was considering exiting the key shale asset.

September 20, 2021

Public Capital , Shale Plays , Acquisitions & Divestitures

Laredo Petroleum Acquires Pioneer Midland Basin Acreage for $230 Million

The Pioneer acquisition adds 135 gross operated locations in Glasscock County, Texas, doubling Laredo Petroleum’s high-margin, oil-weighted inventory in the Midland Basin, according to the company release.

September 20, 2021

Public Capital , Shale Plays , Acquisitions & Divestitures

Pioneer Reportedly Targeting $2 Billion Sale of Delaware Basin Assets

Pioneer Natural Resources is pursuing the sale of its Delaware Basin assets with a target price of over $2 billion, according to a report citing two sources familiar with the matter.

September 17, 2021

Public Capital , Shale Plays , Acquisitions & Divestitures

PHX Minerals Adds to Haynesville Position with Multiple Acquisitions

PHX Minerals agreed to acquire certain mineral and royalty interests totaling approximately 817 net royalty acres in East Texas and Louisiana targeting the Haynesville play through two separate transactions.

September 17, 2021

Public Capital , Shale Plays , Technology , Acquisitions & Divestitures

Basic Energy Services Names Bankruptcy Auction Winners Including Houston’s Ranger

Houston-based Ranger Energy Services beat out the original stalking-horse bidder for the acquisition of Basic’s well servicing and completion and remedial segment assets outside of California through a competitive bankruptcy auction process.

September 17, 2021

Business , Shale Plays , Acquisitions & Divestitures

Global Investment Firm Buys Rosewood Eagle Ford Asset in $450 Million Deal

Warwick Investment Group closed an agreement with Rosewood Resources to acquire its operated oil and gas assets in Texas’ Eagle Ford Shale that immediately offsets Warwick Athena, a company the firm manages.

September 16, 2021

Acquisitions & Divestitures , Pipelines

Suncor Partners with Indigenous Communities to Buy Pipeline Stake from TC Energy

Suncor, three First Nations and five Métis communities will own a 15% stake in this pipeline asset with a value of about CA$1.3 billion. (US$1.03 billion).

September 16, 2021

People , Acquisitions & Divestitures

Former Concho Exec Travis Counts Joins Bracewell Oil and Gas Practice

Over the course of his career, Travis Counts has negotiated and closed transactions exceeding $75 billion in aggregate value over the course of his career, including Concho Resources’ recent merger with ConocoPhillips.

September 15, 2021

Acquisitions & Divestitures , Trends

Oil and Gas Investor A&D Trends: The Delta

Bad COVID numbers likely mean bad economic numbers, and the A&D market is clearly jittery over the Delta variant.

September 15, 2021