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