Professional M&A intelligence for the energy transition
Earthstone Energy (NYSE: ESTE) acquired EnCap-backed Novo Oil & Gas Holdings for $1.5 billion in August 2023. Concurrently, Earthstone flipped a one-third working interest to Northern Oil and Gas for $500 million, effectively reducing the net cost to $1 billion. The deal added approximately 38,000 boe/d of production from 114 wells and approximately 11,300 net […]
Talos Energy completed its $1.29 billion cash-and-stock acquisition of QuarterNorth Energy. The deal added approximately 30,000 boe/d of deepwater Gulf of Mexico production. QuarterNorth is a privately-held U.S. Gulf of Mexico exploration and production company with ownership in several prolific offshore fields.
Vital Energy acquired Forge Energy II Delaware from Quantum Energy Partners for $540 million in October 2023, marking its entry into the Delaware Basin. The deal added approximately 14,000 boe/d and 24,000 net acres in Reeves and Pecos counties, Texas. Vital Energy agreed to acquire 70% of the assets for $378 million and will operate […]
Tourmaline Oil completed its C$1.3 billion of Crew Energy in October 2024. The deal added approximately 30,000 boe/d of production and 270,000 net acres in the Montney formation in northeast British Columbia, consolidating Tourmaline's leading Montney position.
Northern Oil and Gas acquired MPDC Mascot Project's Permian Basin non-operated working interests for $320 million in 2023. The deal added approximately 4,300 boe/d of production and 4,200 net acres concentrated in the Midland Basin. Citigroup Global Markets served as NOG’s financial advisor. Kirkland & Ellis LLP is serving as the Company’s legal advisor. Petrie […]
Tourmaline Oil acquired Bonavista Energy in a C$1.45 billion cash-and-stock deal in October 2023. The transaction added 60,000 boe/d of production and 350,000 net acres in the Deep Basin of Alberta.
Continental Resources acquired Pioneer Natural Resources' Delaware Basin assets for $3.25 billion in cash in 2021. The deal added approximately 92,000 net acres in Texas and 50,000 boe/d of production. The transaction marked Continental's entry into the Delaware Basin and positioned the company in three of the most prolific U.S. unconventional plays alongside the Bakken […]
Strathcona Resources merged with Pipestone Energy in a C$1.65 billion all-stock deal in October 2023, creating Canada's fifth-largest oil producer. The combined entity holds significant Montney and oil sands positions.
ConocoPhillips closed its $13 billion all-stock acquisition of Concho Resources in 2021, becoming the largest independent producer in the Permian Basin at the time. The combined company held approximately 700,000 net acres in the Permian. The deal was the largest U.S. shale acquisition since the COVID-19 pandemic-induced oil price crash and signaled a wave of […]
Whitecap Resources completed its C$1.9 billion acquisition of XTO Energy Canada from ExxonMobil and Imperial Oil in August 2022. The deal added approximately 35,000 boe/d of Montney and Duvernay production in the Western Canadian Sedimentary Basin.