Professional M&A intelligence for the energy transition
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 […]
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 […]
EOG Resources agreed to acquire Encino Acquisition Partners (EAP) from affiliates of CPP Investments and Encino Energy in a transaction valued at $5.6 billion including net debt. The acquisition adds about 675,000 net acres in the Utica Shale in Ohio, expanding EOG's position in the basin to roughly 1.1 million net acres and strengthening its […]
ALLETE completed its acquisition by a partnership led by CPP Investments and Global Infrastructure Partners, which purchased all outstanding shares of the company for $67 per share in cash, valuing the transaction at about $6.2 billion including debt. Under the terms of the merger agreement, CPP Investments and GIP acquired all the outstanding common shares […]
Verdad Resources completed the sale of its operated oil and gas portfolio to Peoria Resources, a subsidiary of JAPEX (U.S.) Corp. in a transaction valued at about $1.26 billion. The deal includes Verdad's exploration and production assets in the Denver-Julesburg Basin, comprising roughly 101,000 net acres across Colorado and Wyoming focused on the Niobrara and […]
U.S. Energy Development Corp. (USEDC) acquired an oil and gas asset in the Permian Basin for about $390 million, adding roughly 20,000 net acres in Reeves and Ward counties, Texas. The company also increased its syndicated revolving credit facility led by Citibank from $165 million to $300 million to support the acquisition and future growth.
Northwest Natural Holding (NYSE: NWN) subsidiary SiEnergy Operating (SiEnergy) completed the acquisition of 100% of the capital stock of Hughes Gas Resources from EPCOR USA Inc. for $60 million. Hughes serves approximately 6,900 connections in 12 communities northeast of Houston and is expected to have a rate base of approximately $46 million at the end […]
NW Natural Holdings completed the acquisition of SiEnergy from SiEnergy Capital Partners, an affiliate of Ridgewood Infrastructure, expanding its regulated natural gas utility footprint in Texas. SiEnergy serves about 70,000 residential and commercial customers across the Houston, Dallas and Austin metropolitan areas.
ConocoPhillips agreed to sell its interests in the Ursa and Europa fields and its stake in Ursa Oil Pipeline to subsidiaries of Shell for $735 million, as part of its strategy to divest non-core assets. The deal includes a 15.96% interest in the Ursa field, a 1% interest in the Europa field, and an overriding […]