Professional M&A intelligence for the energy transition
ExxonMobil completed its $64.5 billion all-stock acquisition of Pioneer Natural Resources, the largest pure-play Permian Basin producer. The combined company’s more than 1.4 million net acres in the Delaware and Midland basins have an estimated 16 billion barrels of oil equivalent resource. ExxonMobil’s Permian production volume will more than double to 1.3 million barrels of […]
Chevron closed its $60 billion all-stock acquisition of Hess Corporation in July 2025 after winning an arbitration dispute with ExxonMobil over Hess's 30% stake in Guyana's Stabroek Block. The deal gives Chevron access to one of the world's most prolific deepwater oil discoveries. In addition to the Guyana asset, Chevron gained Hess's 465,000 net acres […]
Diamondback Energy completed its $26 billion cash-and-stock merger with privately held Endeavor Energy Resources in September 2024, creating the third-largest producer in the Permian Basin behind ExxonMobil and Chevron. The combined entity produces approximately 816,000 barrels of oil and gas equivalent per day across 838,000 net pro forma acres. Jefferies is serving as lead financial […]
Devon Energy closed its $5 billion acquisition of Williston Basin operator Grayson Mill Energy from EnCap Investments in September 2024. The cash-and-stock transaction added approximately 307,000 net acres in the Bakken and 100,000 boe/d of production. The deal significantly expands Devon's position in the Williston Basin with the addition of 307,000 net acres (70 percent […]
Chord Energy Corporation (NASDAQ: CHRD) completed its merger with Calgary-based Enerplus Corporation (TSX: ERF) (NYSE: ERF) in May 2024 in a stock-and-cash transaction with combined enterprise value of approximately $11 billion. The combined entity holds 1.3 million net acres in the Williston Basin. The deal created a leading Williston Basin operator with approximately 287,000 boe/d […]
APA Corporation (NASDAQ: APA) closed its $4.5 billion all-stock acquisition of Callon Petroleum in April 2024, significantly expanding its Permian Basin footprint, particularly in the Delaware Basin where Callon held nearly 120,000 net acres. The deal boosted APA's pro forma total production to more than 500,000 boe/d and increased its enterprise value to over $21 […]
ExxonMobil completed its all-stock acquisition of Denbury valued at $4.9 billion in a bid to strengthen its Low Carbon Solutions business. The deal adds more than 1,300 miles of CO₂ pipelines and access to over 15 onshore CO₂ storage sites, creating the largest owned and operated CO₂ pipeline network in the U.S. The transaction also […]
Patterson-UTI Energy completed its all-stock merger with NexTier Oilfield Solutions, creating a U.S. provider of drilling and well completion services. The combined company continues to operate under the Patterson-UTI Energy name and trades on NASDAQ under PTEN, with headquarters in Houston. The merger expands the company's operational scale, combining 172 super-spec drilling rigs and about […]
Chevron Corporation (NYSE: CVX) acquired PDC Energy (NASDAQ: PDCE) in an all-stock transaction valued at $6.3 billion, or $72 per share. The total enterprise value, including debt, of the transaction is $7.6 billion. The acquisition provides Chevron with assets expected to deliver higher returns in lower carbon intensity basins in the U.S. PDC brings strong […]
Occidental (NYSE: OXY) acquired Midland-based oil and gas producer CrownRock in a cash-and-stock transaction valued at about $12 billion, including debt. The deal adds roughly 94,000 net acres in the Permian Basin’s Midland Basin and about 170,000 barrels of oil equivalent per day of production, strengthening Occidental’s U.S. onshore portfolio. The transaction was expected to […]