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.
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.
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.
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.
Here’s a snapshot of recent energy deals including Targa Resources’ $3.55 billion cash acquisition of Lucid Energy Group in the Permian Basin.
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.
Spicewood announced the final closing of Spicewood Mineral Partners LP with total capital commitments exceeding its target of $200 million.
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.
Riverbend Energy Group had assembled the nonop acreage since 2016 through three funds; it retains assets in the Permian’s southern Midland Basin.
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.’