Professional M&A intelligence for the energy transition
Chevron completed its acquisition of Renewable Energy Group (REG) for $61.50 per share in an all-cash transaction valued at about $3.15 billion, or approximately $2.75 billion net of cash acquired. REG was the largest U.S. producer of biodiesel and a producer of renewable diesel.
BP plc completed the acquisition of Archaea Energy Inc. for an enterprise value of approximately $4.1 billion, including approximately $800 million of net debt. Houston-based Archaea Energy is the largest renewable natural gas (RNG) producer in the United States, operating 50 RNG and landfill gas-to-energy facilities and producing approximately 6,000 boe/d of RNG.
Solaris Oilfield Infrastructure (renamed Solaris Energy Infrastructure) completed the acquisition of Mobile Energy Rentals for approximately $200 million, marking a strategic diversification beyond oilfield logistics into distributed power generation equipment rental serving data centers, oilfield power and other commercial markets.
Archrock completed the acquisition of Total Operations and Production Services (TOPS) for $983 million, including approximately 580,000 horsepower of natural gas compression equipment focused on the Permian Basin.
Expro (NYSE: XPRO), which provides energy services, completed its acquisition of offshore services provider PRT Offshore, for $106 million. PRT Offshore is the only company to provide a complete Hook-to-Hanger solution enabling well completions, interventions, and decommissioning services from surface to subsea.
Precision Drilling Corporation completed the acquisition of CWC Energy Services in a deal valued at approximately C$127 million, adding 65 service rigs and 7 drilling rigs operating primarily in the Western Canadian Sedimentary Basin. The deal consolidates Precision's market-leading position in Canadian land drilling and well servicing.
Helmerich & Payne, Inc. completed the acquisition of KCA Deutag International for $1.97 billion in cash, including the assumption of certain debt. KCA Deutag is a global drilling company and has a significant land drilling presence in the Middle East, with additional operations in South America, Europe and Africa.
Liberty Energy acquired PropX, a provider of last-mile proppant delivery solutions and proprietary container-based logistics technology used in U.S. land hydraulic fracturing operations. The acquisition vertically integrates proppant delivery into Liberty's frac services offering.
ProPetro Holding Corp. acquired Par Five Energy Services, adding cementing services to ProPetro's hydraulic fracturing and wireline offering in the Permian Basin and increasing its addressable market with existing Permian customers.
ChampionX Corporation acquired UK-based RMSpumptools Limited for approximately $110M, expanding its electric submersible pump (ESP) artificial lift offering with RMS's intelligent ESP technology platform serving the offshore and harsh environment markets.