Professional M&A intelligence for the energy transition
Chesapeake Energy completed its $2.6 billion acquisition of Chief E&D Holdings and Tug Hill's affiliate in March 2022. The deal added approximately 113,000 net acres in the Marcellus Shale's prolific northeastern Pennsylvania core area.
Cenovus Energy acquired BP's 50% interest in the Sunrise oil sands project in October 2022, gaining 100% ownership. Cenovus paid C$600 million in cash, with BP also receiving Cenovus's 35% stake in the Bay du Nord project.
EQT Corporation completed its $5.2 billion acquisition of Quantum Energy Partners-backed Tug Hill's THQ Appalachia natural gas business and XcL Midstream's gathering system in December 2022. The deal added approximately 90,000 core net acres in West Virginia's Marcellus and Utica formations and 800 MMcfe/d of production. The combined entity strengthened EQT's position as the largest […]
Suncor Energy acquired Teck Resources' 21.3% interest in the Fort Hills oil sands project for approximately C$1.0 billion in February 2023, increasing Suncor's stake to 75.4%. The deal supports Suncor's strategy to consolidate operated assets.
EQT Corporation completed its $5.5 billion acquisition of Equitrans Midstream in July 2024, reuniting two companies that had separated in 2018. The combined company became the first vertically integrated U.S. natural gas producer with 27.6 Tcfe of proved reserves. The deal gave EQT control of the Mountain Valley Pipeline and over 2,000 miles of gathering […]
Suncor Energy acquired TotalEnergies' Canadian operations, including the 31.23% interest in the Fort Hills oil sands project, for C$1.47 billion in April 2023. The deal gave Suncor 100% ownership of Fort Hills. TotalEnergies EP Canada holds a 31.23% working interest in Fort Hills.
Tokyo Gas, through its U.S. subsidiary TG Natural Resources, acquired Quantum Energy Partners-backed Rockcliff Energy II for $2.7 billion in cash in January 2024. The deal added approximately 109,000 net acres in the Haynesville Shale. The transaction was the largest U.S. natural gas-focused upstream deal of 2023 and reflected Japanese utility interest in securing equity […]
Sitio Royalties Corp. (NYSE: STR) and Brigham Minerals, Inc. (NYSE: MNRL) completed their agreement to combine in an all-stock merger, with an aggregate enterprise value of about $4.8 billion. The combination brings together two of the largest public companies in the oil and gas mineral and royalty sector with high-quality assets in the Permian Basin […]
Permian Resources acquired Occidental Petroleum's New Mexico Delaware Basin assets for $817.5 million. The deal added approximately 27,500 net acres in Reeves and Lea counties and 15,000 boe/d of production. The acquired assets in Reeves County also include a fully integrated midstream system. Infrastructure on the acquired assets includes over 100 miles of operated oil […]
Murphy Oil subsidiary, Murphy Exploration & Production Company – USA, closed the transaction for the sale of its entire 50% stake in the Kin's Quay floating production system and associated export lateral pipelines in the Gulf of Mexico. The King's Quay FPS will be co-owned in a joint venture with entities managed by Ridgewood Energy […]