Professional M&A intelligence for the energy transition
Crescent Energy completed its acquisition of Ridgemar Energy's Eagle Ford operating assets for approximately $905 million in cash and stock in January 2025. The deal added 20,000 boe/d of production and 130 high-quality drilling locations in Central Eagle Ford. The transaction extended Crescent's Eagle Ford position in Frio, Atascosa, and McMullen counties, Texas, building on […]
Permian Resources completed its $4.5 billion all-stock acquisition of Earthstone Energy in November 2023, creating one of the largest pure-play Delaware Basin operators. The combined entity holds approximately 400,000 net acres with production above 300,000 boe/d. The deal added 223,000 net acres in the Delaware and Midland basins to Permian Resources' position. EnCap-affiliated funds and […]
Civitas Resources acquired Tap Rock Resources' Permian assets from NGP Energy Capital Management for $2.45 billion, marking its entry into the Delaware Basin. The deal added 30,000 boe/d of production and 47,000 net acres in Lea and Eddy counties, New Mexico.
Civitas Resources acquired NGP-backed Hibernia Energy III's Midland Basin assets for $2.25 billion in August 2023. The deal added 38,000 boe/d of production and 38,000 net acres in Reagan and Upton counties, Texas.
ExxonMobil completed its $64.5 billion all-stock acquisition of Pioneer Natural Resources, the largest pure-play Permian Basin producer. The combined company’s more than 1.4 million net acres in the Delaware and Midland basins have an estimated 16 billion barrels of oil equivalent resource. ExxonMobil’s Permian production volume will more than double to 1.3 million barrels of […]
Chevron closed its $60 billion all-stock acquisition of Hess Corporation in July 2025 after winning an arbitration dispute with ExxonMobil over Hess's 30% stake in Guyana's Stabroek Block. The deal gives Chevron access to one of the world's most prolific deepwater oil discoveries. In addition to the Guyana asset, Chevron gained Hess's 465,000 net acres […]
Diamondback Energy completed its $26 billion cash-and-stock merger with privately held Endeavor Energy Resources in September 2024, creating the third-largest producer in the Permian Basin behind ExxonMobil and Chevron. The combined entity produces approximately 816,000 barrels of oil and gas equivalent per day across 838,000 net pro forma acres. Jefferies is serving as lead financial […]
Devon Energy closed its $5 billion acquisition of Williston Basin operator Grayson Mill Energy from EnCap Investments in September 2024. The cash-and-stock transaction added approximately 307,000 net acres in the Bakken and 100,000 boe/d of production. The deal significantly expands Devon's position in the Williston Basin with the addition of 307,000 net acres (70 percent […]
ExxonMobil completed its all-stock acquisition of Denbury valued at $4.9 billion in a bid to strengthen its Low Carbon Solutions business. The deal adds more than 1,300 miles of CO₂ pipelines and access to over 15 onshore CO₂ storage sites, creating the largest owned and operated CO₂ pipeline network in the U.S. The transaction also […]
Chevron Corporation (NYSE: CVX) acquired PDC Energy (NASDAQ: PDCE) in an all-stock transaction valued at $6.3 billion, or $72 per share. The total enterprise value, including debt, of the transaction is $7.6 billion. The acquisition provides Chevron with assets expected to deliver higher returns in lower carbon intensity basins in the U.S. PDC brings strong […]