Professional M&A intelligence for the energy transition
Vital Energy and Northern Oil and Gas jointly acquired Point Energy Partners from Vortus Investments for $1.1 billion in cash in September 2024. Vital took 80% of the assets while Northern took the remaining 20%. The deal added approximately 16,300 boe/d of production and 68,000 net acres in the Delaware Basin's Ward and Reeves counties. […]
Permian Resources completed its $4.5 billion all-stock acquisition of Earthstone Energy in November 2023, creating one of the largest pure-play Delaware Basin operators. The combined entity holds approximately 400,000 net acres with production above 300,000 boe/d. The deal added 223,000 net acres in the Delaware and Midland basins to Permian Resources' position. EnCap-affiliated funds and […]
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 […]
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 […]
ExxonMobil completed its all-stock acquisition of Denbury valued at $4.9 billion in a bid to strengthen its Low Carbon Solutions business. The deal adds more than 1,300 miles of CO₂ pipelines and access to over 15 onshore CO₂ storage sites, creating the largest owned and operated CO₂ pipeline network in the U.S. The transaction also […]
Chevron Corporation (NYSE: CVX) acquired PDC Energy (NASDAQ: PDCE) in an all-stock transaction valued at $6.3 billion, or $72 per share. The total enterprise value, including debt, of the transaction is $7.6 billion. The acquisition provides Chevron with assets expected to deliver higher returns in lower carbon intensity basins in the U.S. PDC brings strong […]
Occidental (NYSE: OXY) acquired Midland-based oil and gas producer CrownRock in a cash-and-stock transaction valued at about $12 billion, including debt. The deal adds roughly 94,000 net acres in the Permian Basin’s Midland Basin and about 170,000 barrels of oil equivalent per day of production, strengthening Occidental’s U.S. onshore portfolio. The transaction was expected to […]
ONEOK (NYSE: OKE) acquired Magellan Midstream Partners LP (NYSE: MMP) in a $18.8B cash-and-stock transaction ($25/unit cash + 0.667 ONEOK shares), creating a diversified $60B enterprise with 50,000 miles of pipeline. The deal combined ONEOK's NGL/gas with Magellan's refined products/crude pipelines. Magellan will be merged into a newly created 100% wholly-owned subsidiary of ONEOK. Each […]
Private equity funds affiliated with Blackstone's Energy Transition Partners agreed to acquire the 620-MW Hill Top Energy Center, a natural-gas-fired power plant from Ardian for nearly $1 billion. The plant, located in in western Pennsylvania, was completed in 2021 in Greene County. It supplies electricity to the PJM power market and is positioned to support […]