Professional M&A intelligence for the energy transition
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.
Vermilion Energy Inc. completed the acquisition of privately-held Westbrick Energy Ltd. for about C$1.08 billion. The acquired assets are located in the Deep Basin of west-central Alberta and include over 700,000 net acres, with current production of approximately 50,000 boe per day (60% liquids).
TotalEnergies SE acquired the interests of OMV(50%) and Sapura Upstream Assets (50%) in SapuraOMV Upstream, an independent gas producer in Malaisia. The deal is valued at $903 million. SapuraOMV's main assets are its 40% operated interest in block SK408 and 30% operated interest in block SK310, both located offshore Sarawak in Malaysia.
DNO ASA, the Norwegian oil and gas operator, acquired 100 percent of the shares of Sval Energi Group AS from HitecVision for a cash consideration of $450 million based on an enterprise value of $1.6 billion.
PBF Energy completed its acquisition of Martinez refinery in California from Equilon Enterprises LLC d/b/a Shell Oil Products US. The 157,000 barrel-per-day, dual-coking Martinez refinery is located on an 860-acre site in the City of Martinez, 30 miles northeast of San Francisco, Calif.
Vertex Energy completed its $75 million acquisition of Shell's Mobile, Alabama refinery. The 91,000 barrel-per-day Mobile refinery is strategically located on the U.S. Gulf Coast and is capable of sourcing a flexible mix of cost-advantaged light-sweet domestic and international feedstocks.
Marathon Petroleum completed its $21 billion divestiture of Speedway convenience store and fuel retail business to 7-Eleven, a subsidiary of Japan's Seven & i Holdings Co., Ltd. (3382: Tokyo). The deal made 7-Eleven the largest U.S. convenience retailer.
EG Group acquired Cumberland Farms for $2.15 billion in October 2019. The deal added 567 stores across eight U.S. Northeast states to EG's portfolio.
ARKO Corp. (Nasdaq: ARKO) subsidiary GPM Investments acquired Pride Convenience Holdings, which operates 31 convenience stores in highly desirable locations. The deal expands ARKO's convenience store footprint into Massachusetts, making it the 34th state in which the company will operate.
Sunoco LP completed the divestiture of approximately 200 convenience store properties as part of its strategy to focus on fuel distribution and pipelines. 7-Eleven acquired over 200 stores, including Stripes convenience stores and Laredo Taco Company restaurants. Located across West Texas, New Mexico and Oklahoma, these stores will join the over 13,000 7-Eleven, Speedway and Stripes locations that 7-Eleven operates, […]