Professional M&A intelligence for the energy transition
Oasis Petroleum and Whiting Petroleum completed their merger to form Chord Energy, a Williston Basin-focused independent E&P company with combined production of ~170,000 BOE/d.
Crestwood Equity Partners LP (NYSE: CEQP) acquired Oasis Midstream Partners LP (NASD: OMP) in an equity and cash transaction valued at about $1.8 billion including the assumption of debt.
PKN Orlen completed its merger with state-owned gas giant PGNiG S.A., creating the largest fuel and energy group in Central Europe with over 100M customers.
NextEra Energy (NYSE: NEE) and Dominion Energy (NYSE: D) entered into an agreement to combine in an all-stock transaction. The combination will create the world's largest regulated electric utility business. The combined company will be more than 80% regulated, serve approximately 10 million utility customer accounts across Florida, Virginia, North Carolina and South Carolina and […]
MacLean Power Systems and Power Grid Components announced the closing of their merger. Funds affiliated with Blackstone Energy Transition Partners and Blackstone’s flagship private equity strategy have become the majority owner of the combined company. In connection with the transaction, an affiliate of Centerbridge Partners, will be making a new investment into the combined company. […]
Crescent Energy Company (NYSE: CRGY) acquired SilverBow in a transaction valued at $2.1 billion. The combined company will be the second-largest operator in the Eagle Ford.
ExxonMobil closed its $59.5B all-stock acquisition of Pioneer Natural Resources, more than doubling its Permian Basin footprint to 1.4M net acres with estimated 16B barrels of resource.
Sunoco LP acquired NuStar Energy in an all-equity deal valued at $7.3B (incl. assumed debt). NuStar brought ~9,500 miles of pipeline and 63 terminal/storage facilities, significantly diversifying Sunoco's business and enhancing its distribution network. Expected $150M+ of run-rate synergies.
Chesapeake Energy and Southwestern Energy merged in an all-stock deal to form Expand Energy. The combined company became the largest U.S. natural gas producer with 7.9 Bcfe/d production capacity, headquartered in Oklahoma City.
EQT acquired Equitrans Midstream in an all-stock deal, creating America's only large-scale vertically integrated natural gas company. The combined entity has >2,000 miles of pipeline infrastructure and $425M+ of annual synergies, with a free cash flow breakeven of ~$2/MMBtu.