Professional M&A intelligence for the energy transition
Crescent Energy closed its all-stock acquisition of Vital Energy in late 2025, creating a top ten liquids-weighted independent E&P company with enhanced scale and free cash flow generation. The combined company will be led by a management team and board with deep operating and investing expertise, well-positioned to drive long-term growth and value creation. Under […]
Brookfield Renewable agreed to acquire National Grid's US renewables business for $1.7 billion, including a portfolio of utility-scale solar, onshore wind, and battery storage assets across the U.S. with 1.8 GW in operation and another 1.3 GW under construction. The terms of the transaction imply an enterprise value for National Grid Renewables of $1.74 billion. […]
TPG acquired Altus Power, a commercial-scale solar energy provider, for approximately $2.2 billion in early 2025, taking the company private at $5.00 per share. As a result of the transaction, Altus Power is now a privately-held company. Moelis & Company is acting as financial advisor to Altus Power and Latham & Watkins LLP is acting […]
Phillips 66 announced an agreement to purchase the remaining 50% interest in WRB Refining LP from Cenovus Energy for approximately $2.2 billion in cash. The transaction will give Phillips 66 full ownership of the joint‑venture refinery complex in Wood River and Roxana, Illinois, expanding control of its refinery assets and optimizing integration with its upstream […]
Phillips 66 (NYSE:PSX) completed its acquisition of EPIC Y-Grade GP LLC and EPIC Y-Grade LP, which own various subsidiaries and long-haul natural gas liquids pipelines, fractionation facilities and distribution systems (EPIC NGL) for total cash consideration of approximately $2.2 billion. The EPIC NGL business consists of two fractionators (170 MBD) near Corpus Christi, Texas, approximately […]
Ovintiv (NYSE: OVV) (TSX: OVV) completed its acquisition of all of the common shares of NuVista Energy Ltd. (TSX: NVA) in a cash and stock transaction valued at $2.7 billion. The acquisition is expected to add approximately 930 net 10,000-foot equivalent well locations, and approximately 140,000 net acres (approximately 70% undeveloped) in the core of […]
Antero Midstream agreed to acquire HG Energy II Midstream Holdings for $1.1 billion in cash, adding gathering and water infrastructure in the Marcellus Shale contiguous with its existing system. The assets include about 50 miles of gas gathering pipelines and 50 miles of water pipelines. In a related move, the company will divest its Ohio […]
Harbour Energy completed the acquisition of LLOG Exploration Co. for $3.2 billion, marking the company's strategic entry into the U.S. Gulf of Mexico offshore oil and gas market. The transaction comprised $2.7 billion in cash and $0.5 billion in Harbour shares, strengthening Harbour's global upstream portfolio and establishing a new core business unit alongside its […]
Viper Energy, a subsidiary of Diamondback Energy, completed its all-equity acquisition of Sitio Royalties, combining two publicly-traded mineral and royalty companies, for about $4.1 billion, including net debt of roughly $1.1 billion. The merger will combine two publicly-traded mineral and royalty companies and expand Viper's portfolio of oil and gas mineral and royalty interests across […]
Alphabet agreed to acquire Intersect Power, a developer of data-center and energy infrastructure, for $4.75 billion in cash plus the assumption of debt. The transaction includes Intersect's gigawatt-scale energy and data-center projects under development or construction and aims to accelerate power generation capacity to support Alphabet's growing U.S. data-center demand. Intersect Power will continue operating […]