Professional M&A intelligence for the energy transition
Williams (NYSE: WMB) acquired a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion. The deal includes six underground natural gas storage facilities located in Louisiana and Mississippi with total capacity of 115 billion cubic feet, as well as 230 miles of gas transmission pipeline and 30 pipeline […]
Plains All American Pipeline acquired Ironwood Midstream Energy from EnCap Flatrock Midstream for $475 million.. The deal added crude oil gathering assets in the Eagle Ford Shale.
Phillips 66 acquired Pinnacle Midstream from Energy Spectrum Capital for $550 million in May 2024. The deal added natural gas and water gathering assets in the Midland Basin, expanding Phillips 66's NGL value chain.
Spire Inc. (NYSE: SR) acquired MoGas Pipeline (an interstate natural gas pipeline) and the connected Omega Pipeline from CorEnergy Infrastructure Trust for $175 million in January 2024. The 263-mile MoGas system primarily serves Missouri, including Spire's existing utility customer base.
ConocoPhillips (NYSE: COP) acquired a 10% shareholding interest in Australia Pacific LNG (APLNG) from Origin Energy for $1.65 billion. The ConocoPhillips subsidiary now owns a 47.5% interest in APLNG, with Origin Energy and Sinopec owning 27.5% and 25% interests, respectively. Based on the new 47.5% ownership interest and a full-year average Brent price of $78 […]
MidOcean Energy, a liquefied natural gas (LNG) company formed and managed by EIG, acquired Tokyo Gas Co., Ltd.'s interests in a portfolio of Australian integrated LNG projects. The acquisition includes Tokyo Gas' interests in the Gorgon LNG, Pluto LNG and Queensland Curtis LNG projects. The portfolio benefits from experienced operators, including Chevron, Woodside and Shell, […]
Cenovus Energy acquired BP's 50% interest in the Sunrise oil sands project in October 2022, gaining 100% ownership. Cenovus paid C$600 million in cash, with BP also receiving Cenovus's 35% stake in the Bay du Nord project.
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.
Earthstone Energy (NYSE: ESTE) acquired EnCap-backed Novo Oil & Gas Holdings for $1.5 billion in August 2023. Concurrently, Earthstone flipped a one-third working interest to Northern Oil and Gas for $500 million, effectively reducing the net cost to $1 billion. The deal added approximately 38,000 boe/d of production from 114 wells and approximately 11,300 net […]
Vital Energy acquired Forge Energy II Delaware from Quantum Energy Partners for $540 million in October 2023, marking its entry into the Delaware Basin. The deal added approximately 14,000 boe/d and 24,000 net acres in Reeves and Pecos counties, Texas. Vital Energy agreed to acquire 70% of the assets for $378 million and will operate […]