Professional M&A intelligence for the energy transition
Bonanza Creek Energy and Extraction Oil & Gas announced the closing of their merger and subsequent acquisition of Crestone Peak Resources. The combined company has now formally been rebranded Civitas Resources. The combined company will operate across approximately 425,000 net acres, with a production base of 117 thousand barrels of oil equivalent per day.
Baytex Energy closed its acquisition of Ranger Oil Corp. for around $2.5 billion, which included net debt of approximately US$650 million.
Adani Group completed the acquisition of Holcim's Indian cement businesses ACC and Ambuja Cements in September 2022 in a transaction valued at $10.5 billion.
Aramco completed the acquisition of a 40% equity stake in Gas & Oil Pakistan Ltd. (GO). GO, a downstream fuels, lubricants and convenience stores operator, is one of the largest retail and storage companies in Pakistan.
Aramco completed the acquisition of a 10% strategic stake in Rongsheng Petrochemical Co. Ltd. for approximately $3.6 billion.
Chevron completed the acquisition of all outstanding public common units of Noble Midstream Partners LP for $1.32 billion. The take-private transaction consolidated Chevron's gathering and processing assets in the DJ and Permian Basins.
Shell completed the sale of The Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance. Renaissance Africa Energy Company , a consortium comprising four Nigerian independent energy companies —ND Western Limited, Aradel Holdings Plc, FIRST Exploration and Petroleum Development Company Limited, Waltersmith Group and an international energy company – Petrolin Group.
ADNOC acquired Mubadala Investment's 24.9% stake in Austrian energy major OMV AG. Financial details were not disclosed.
Abu Dhabi National Energy Company PJSC (TAQA) announced the completion of its agreement to acquire Sustainable Water Solutions Holding.
Masdar completed the acquisition of Saeta Yield from Brookfield Asset Management for approximately $1.4 billion. Saeta Yield owns 745 MW of operating wind capacity and 538 MW of operating solar capacity.