Professional M&A intelligence for the energy transition
ConocoPhillips acquired Marathon Oil in an all-stock deal valued at $22.5B (incl. $5.4B net debt). The deal added 2B barrels of resources across the Eagle Ford, Bakken, and Permian basins, with expected $500M in annual cost and capital synergies within the first full year.
ZincFive, which is engaged in nickel-zinc battery technology for data center and AI infrastructure immediate power solutions, entered into a business combination agreement with Spark I Acquisition, a NASDAQ-listed SPAC formed by SparkLabs Group. The transaction will take ZincFive public, providing capital to expand its proprietary battery technology for critical infrastructure applications. The transaction represents […]
Cenovus Energy and Husky Energy completed their all-stock deal in a transaction valued at approximately C$23.6 billion including assumed debt. The combined company will operate as Cenovus Energy and remain headquartered in Calgary, Alberta.
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.
Aker BP ASA completed its combination with Lundin Energy's oil and gas business in a cash-and-share transaction valued at approximately $13.9 billion, creating one of the largest publicly listed pure-play E&P companies in Europe. Under the deal, Lundin shareholders received $2.22 billion in cash plus 271 million Aker BP shares.
Energy Transfer LP (NYSE: ET) completed its $7.1 billion all-equity acquisition of Crestwood Equity Partners in November 2023, expanding its midstream footprint in the Williston, Delaware, and Powder River basins. The deal added Crestwood's gathering, processing, and storage assets.
Woodside Energy completed its all-stock merger with BHP's petroleum business in June 2022 to create one of the world's top 10 independent E&P companies by production. The combined entity was valued at approximately $28 billion and produces approximately 200 mmboe annually.
Cabot Oil & Gas merged with Cimarex Energy in an all-stock $17 billion deal, forming Coterra Energy. The combined company holds approximately 600,000 net acres across the Marcellus, Permian, and Anadarko basins. The deal created a diversified upstream operator with both natural gas (Marcellus) and oil (Permian) exposure. Coterra established a hybrid capital return framework […]
EQT Corporation completed its $5.5 billion acquisition of Equitrans Midstream in July 2024, reuniting two companies that had separated in 2018. The combined company became the first vertically integrated U.S. natural gas producer with 27.6 Tcfe of proved reserves. The deal gave EQT control of the Mountain Valley Pipeline and over 2,000 miles of gathering […]
Sitio Royalties Corp. (NYSE: STR) and Brigham Minerals, Inc. (NYSE: MNRL) completed their agreement to combine in an all-stock merger, with an aggregate enterprise value of about $4.8 billion. The combination brings together two of the largest public companies in the oil and gas mineral and royalty sector with high-quality assets in the Permian Basin […]