Professional M&A intelligence for the energy transition
Ares Management acquired 100% of Meade Pipeline from XPLR Infrastructure for approximately $1.1 billion in cash. XPLR is an independent power producer formed by NextEra Energy. Meade owns approximately 40% of the Central Penn Line (CPL), a FERC-regulated, 180-mile pipeline that transports natural gas from prolific production zones in the Marcellus and Utica Shale in […]
Targa Resources (NYSE: TRGP) closed the acquisition of Stakeholder Midstream for $1.25 billion in cash. The acquisition will allow Targa Resources to expand its natural gas gathering, treating and processing footprint in the Permian Basin. The assets include about 480 miles of natural gas pipelines and roughly 180 MMcf/d of cryogenic processing and sour-gas treating capacity, […]
Diversified Energy acquired Maverick Natural Resources' Permian Basin assets for $1.27 billion, marking the company's first foray into the Permian, America's most productive oil and gas play. The deal adds production-heavy, long-life assets to Diversified's portfolio. According to Enverus, Permian land has been prioritized for acquisitions because high-quality inventory generates strong returns through the commodity […]
EQT will acquire upstream and midstream assets of Olympus Energy for $1.8 billion, including $1.3 billion in stock and $500 million in cash. The assets include 90,000 net acres in Southwest Pennsylvania, producing about 500 MMcf/d, with over 10 years of Marcellus inventory and 7 years of Utica upside.
Brookfield Renewable agreed to acquire National Grid's US renewables business for $1.7 billion, including a portfolio of utility-scale solar, onshore wind, and battery storage assets across the U.S. with 1.8 GW in operation and another 1.3 GW under construction. The terms of the transaction imply an enterprise value for National Grid Renewables of $1.74 billion. […]
Phillips 66 announced an agreement to purchase the remaining 50% interest in WRB Refining LP from Cenovus Energy for approximately $2.2 billion in cash. The transaction will give Phillips 66 full ownership of the joint‑venture refinery complex in Wood River and Roxana, Illinois, expanding control of its refinery assets and optimizing integration with its upstream […]
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 […]
Ovintiv (NYSE: OVV) (TSX: OVV) completed its acquisition of all of the common shares of NuVista Energy Ltd. (TSX: NVA) in a cash and stock transaction valued at $2.7 billion. The acquisition is expected to add approximately 930 net 10,000-foot equivalent well locations, and approximately 140,000 net acres (approximately 70% undeveloped) in the core of […]
Antero Midstream agreed to acquire HG Energy II Midstream Holdings for $1.1 billion in cash, adding gathering and water infrastructure in the Marcellus Shale contiguous with its existing system. The assets include about 50 miles of gas gathering pipelines and 50 miles of water pipelines. In a related move, the company will divest its Ohio […]
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 […]