Professional M&A intelligence for the energy transition
Suncor Energy acquired TotalEnergies' Canadian operations, including the 31.23% interest in the Fort Hills oil sands project, for C$1.47 billion in April 2023. The deal gave Suncor 100% ownership of Fort Hills. TotalEnergies EP Canada holds a 31.23% working interest in Fort Hills.
Tokyo Gas, through its U.S. subsidiary TG Natural Resources, acquired Quantum Energy Partners-backed Rockcliff Energy II for $2.7 billion in cash in January 2024. The deal added approximately 109,000 net acres in the Haynesville Shale. The transaction was the largest U.S. natural gas-focused upstream deal of 2023 and reflected Japanese utility interest in securing equity […]
Sitio Royalties Corp. (NYSE: STR) and Brigham Minerals, Inc. (NYSE: MNRL) completed their agreement to combine in an all-stock merger, with an aggregate enterprise value of about $4.8 billion. The combination brings together two of the largest public companies in the oil and gas mineral and royalty sector with high-quality assets in the Permian Basin […]
Permian Resources acquired Occidental Petroleum's New Mexico Delaware Basin assets for $817.5 million. The deal added approximately 27,500 net acres in Reeves and Lea counties and 15,000 boe/d of production. The acquired assets in Reeves County also include a fully integrated midstream system. Infrastructure on the acquired assets includes over 100 miles of operated oil […]
Murphy Oil subsidiary, Murphy Exploration & Production Company – USA, closed the transaction for the sale of its entire 50% stake in the Kin's Quay floating production system and associated export lateral pipelines in the Gulf of Mexico. The King's Quay FPS will be co-owned in a joint venture with entities managed by Ridgewood Energy […]
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 […]