Professional M&A intelligence for the energy transition
Enterprise Products Partners L.P. (NYSE: EPD) closed its acquisition of a natural gas gathering affiliate of Occidental in a debt-free transaction for $580 million in cash. The acquired assets include certain natural gas gathering systems in the Midland Basin, as well as approximately 200 miles of natural gas gathering pipelines that support Occidental’s production activities […]
MPLX LP (NYSE: MPLX) completed the $2.38 billion acquisition of Northwind Delaware Holdings LLC, which provides sour gas gathering, treating, and processing services in Lea County, New Mexico. The acquisition was financed and the incremental capital expenditures associated with in-process expansion projects will be funded by net proceeds from MPLX's $4.5 billion senior notes issued […]
Diamondback Energy acquired subsidiaries of Double Eagle IV Midco in a transaction valued at more than $4 billion, including about $3 billion in cash and 6.9 million Diamondback shares. The deal includes approximately 40,000 net acres in the core of the Midland Basin; Estimated run-rate production of approximately 27 MBo/d (69% oil); $200 million of […]
Controlled Thermal Resources Holdings and Plum Acquisition Corp. IV (Nasdaq: PLMK) on March 9 said in a statement they entered into a business combination agreement that values CTR at a pro forma enterprise value of around $4.7 billion. The combined company expected to list on Nasdaq under the ticker “CTRH.” CTR is developing the Hell’s […]
Constellation (Nasdaq: CEG) acquired Calpine Corp. from Energy Capital Partners (ECP), creating the nation's largest producer of electricity. In January 2025, Constellation announced an to acquire Calpine in a cash and stock transaction valued at an equity purchase price of approximately $16.4 billion, composed of 50 million shares of Constellation stock and $4.5 billion in […]
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 […]