Professional M&A intelligence for the energy transition
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.
Baytex Energy closed its acquisition of Ranger Oil Corp. for around $2.5 billion, which included net debt of approximately US$650 million.
ADNOC acquired Mubadala Investment's 24.9% stake in Austrian energy major OMV AG. Financial details were not disclosed.
The Saudi Arabian Oil Company (Aramco) completed the acquisition of the Valvoline (NYSE: VVV) global products business for $2.65 billion.
Aramco completed the acquisition of a 40% equity stake in Gas & Oil Pakistan Ltd. (GO). GO, a downstream fuels, lubricants and convenience stores operator, is one of the largest retail and storage companies in Pakistan.
Aramco completed the acquisition of a 10% strategic stake in Rongsheng Petrochemical Co. Ltd. for approximately $3.6 billion.
Shell completed the sale of The Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance. Renaissance Africa Energy Company , a consortium comprising four Nigerian independent energy companies —ND Western Limited, Aradel Holdings Plc, FIRST Exploration and Petroleum Development Company Limited, Waltersmith Group and an international energy company – Petrolin Group.
Tokyo Gas America Ltd., a subsidiary of Tokyo Gas, decided to acquire all shares of Rockcliff Energy II, a portfolio company of Quantum Energy Partners, through its ownership interest in TG Natural Resources.
Harbour Energy announced the acquisition of the Wintershall Dea asset portfolio, comprising substantially all of Wintershall Dea AG's upstream assets.
Ithaca Energy plc completed the acquisition of JAPEX UK E&P Limited from Japan Petroleum Exploration Co., Ltd. (JAPEX) for approximately $193 million in cash. The deal added non-operated interests in the Seagull and other UK North Sea fields, complementing Ithaca's existing UKCS portfolio.