Professional M&A intelligence for the energy transition
ProPetro Holding Corp. acquired Par Five Energy Services, adding cementing services to ProPetro's hydraulic fracturing and wireline offering in the Permian Basin and increasing its addressable market with existing Permian customers.
Liberty Energy acquired PropX, a provider of last-mile proppant delivery solutions and proprietary container-based logistics technology used in U.S. land hydraulic fracturing operations. The acquisition vertically integrates proppant delivery into Liberty's frac services offering.
Helmerich & Payne, Inc. completed the acquisition of KCA Deutag International for $1.97 billion in cash, including the assumption of certain debt. KCA Deutag is a global drilling company and has a significant land drilling presence in the Middle East, with additional operations in South America, Europe and Africa.
Expro (NYSE: XPRO), which provides energy services, completed its acquisition of offshore services provider PRT Offshore, for $106 million. PRT Offshore is the only company to provide a complete Hook-to-Hanger solution enabling well completions, interventions, and decommissioning services from surface to subsea.
Archrock completed the acquisition of Total Operations and Production Services (TOPS) for $983 million, including approximately 580,000 horsepower of natural gas compression equipment focused on the Permian Basin.
Solaris Oilfield Infrastructure (renamed Solaris Energy Infrastructure) completed the acquisition of Mobile Energy Rentals for approximately $200 million, marking a strategic diversification beyond oilfield logistics into distributed power generation equipment rental serving data centers, oilfield power and other commercial markets.
Patterson-UTI Energy (NASDAQ:PTEN) completed the acquisition of Ulterra Drilling Technologies, L.P., a provider of specialized drill bit solutions, for $370 million of cash and 34.9 million shares of Patterson-UTI common stock.
Halliburton Company completed the acquisition of Optime Subsea, a Norwegian provider of subsea well intervention and installation technologies. The transaction expands Halliburton's subsea services offering with Optime's CITS (Compact Intervention Tubing Severance) and ROCS (Remotely Operated Controls System) technologies, addressing growing demand for cost-effective subsea well access globally.
RWE AG completed its $6.8 billion acquisition of Con Edison's clean energy businesses in March 2023. The deal, which involves the acquisition of Con Edison Clean Energy Businesses, added 3 GW of operating solar and wind projects and a 7 GW development pipeline, making RWE the fourth-largest renewable energy company in the U.S.
EQT Active Core Infrastructure Fund and and the Public Sector Pension Investment Board completed its $3.0 billion take-private acquisition of Radius Global Infrastructure in March 2024. Radius owns critical telecommunications infrastructure including renewable energy land leases.