Professional M&A intelligence for the energy transition
Devon Energy Corp. (NYSE: DVN) and Coterra Energy (NYSE: CTRA) agreed to merge in an all-stock transaction that implies a combined enterprise value of approximately $58 billion, forming one of the world’s largest shale producers.
Constellation Energy (Nasdaq: CEG) completed its acquisition of Calpine on Jan. 7, creating the nation’s largest electricity producer with approximately 60 gigawatts of combined generating capacity. The cash-and-stock transaction, first announced in January 2025, valued Calpine at roughly $16.4 billion in equity—comprising 50 million Constellation shares and $4.5 billion in cash—plus the assumption of $12.7 […]
Phillips 66 (NYSE:PSX) announced the completion of its acquisition of EPIC Y-Grade GP, LLC and EPIC Y-Grade LP (EPIC NGL) for total cash consideration of about $2.2 billion. EPIC NGL own various subsidiaries and long-haul natural gas liquids pipelines, fractionation facilities and distribution systems. “This transaction strengthens our position as a leading integrated downstream energy […]
Diamondback Energy (NASDAQ: FANG) on Feb. 18 announced that it signed an agreement to acquire certain subsidiaries of Double Eagle IV Midco. The deal includes approximately 6.9 million shares of Diamondback common stock and $3 billion of cash, subject to customary adjustments. The cash portion is expected to be funded through a combination of cash […]