Professional M&A intelligence for the energy transition
Baker Hughes agreed to acquire Chart Industries through a merger in which a wholly owned subsidiary of Baker Hughes will merge with Chart, making Chart a wholly owned subsidiary. Under the terms of the agreement, Chart shareholders will receive $210 per share of common stock in cash. The purchase price represents an enterprise value of […]
Blackstone Infrastructure agreed to acquire TXNM Energy in an all-cash transaction valued at about $11.5 billion including net debt, offering $61.25 per share, a 23% premium to the company’s 30-day VWAP. The deal will support investment in electricity infrastructure through TXNM subsidiaries PNM and TNMP, and is expected to close in the second half of […]
Repsol and HitecVision's joint venture NEO NEXT Energy agreed to merge with TotalEnergies' U.K. upstream oil and gas business, forming a new company called NEO NEXT+. After completion, TotalEnergies will hold 47.5%, HitecVision 28.875%, and Repsol 23.625% of the combined entity, which is expected to become the largest independent oil and gas producer in the […]
NRG Energy completed the acquisition of a 13-GW power generation portfolio and the CPower commercial and industrial virtual power plant platform from LS Power in a transaction valued at about $12 billion. The deal includes 18 natural-gas-fired generation facilities and expands NRG's demand-response capabilities, doubling its generation fleet to roughly 25 GW.
Verdad Resources completed the sale of its operated oil and gas portfolio to Peoria Resources, a subsidiary of JAPEX (U.S.) Corp. in a transaction valued at about $1.26 billion. The deal includes Verdad's exploration and production assets in the Denver-Julesburg Basin, comprising roughly 101,000 net acres across Colorado and Wyoming focused on the Niobrara and […]
U.S. Energy Development Corp. (USEDC) acquired an oil and gas asset in the Permian Basin for about $390 million, adding roughly 20,000 net acres in Reeves and Ward counties, Texas. The company also increased its syndicated revolving credit facility led by Citibank from $165 million to $300 million to support the acquisition and future growth.
National Fuel Gas agreed to acquire the Ohio natural gas utility business of CenterPoint Energy for $2.62 billion. The business operates about 5,900 miles of pipelines and serves roughly 335,000 customers in Ohio, with the deal expected to close in the fourth quarter of 2026, subject to regulatory approvals. TD Securities (USA) LLC is serving […]
Northwest Natural Holding (NYSE: NWN) subsidiary SiEnergy Operating (SiEnergy) completed the acquisition of 100% of the capital stock of Hughes Gas Resources from EPCOR USA Inc. for $60 million. Hughes serves approximately 6,900 connections in 12 communities northeast of Houston and is expected to have a rate base of approximately $46 million at the end […]
NW Natural Holdings completed the acquisition of SiEnergy from SiEnergy Capital Partners, an affiliate of Ridgewood Infrastructure, expanding its regulated natural gas utility footprint in Texas. SiEnergy serves about 70,000 residential and commercial customers across the Houston, Dallas and Austin metropolitan areas.
MDU Resources subsidiary Montana-Dakota Utilities signed a purchase agreement to acquire a 49% ownership interest (122.5 MW) in the Badger Wind Farm near Wishek, North Dakota. The acquisition was selected as the least-cost option for MDU customers in its 2024 Integrated Resource Plan, contingent on North Dakota PSC approval.