Professional M&A intelligence for the energy transition
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 […]
Crescent Point Energy acquired Hammerhead Resources for C$2.55 billion in cash and stock in December 2023. Crescent Point will become the largest owner of land in the volatile oil fairway in the Alberta Montney, in addition to already controlling the largest amount of land in the condensate-rich Kaybob Duvernay play.
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 […]
Chord Energy Corporation (NASDAQ: CHRD) completed its merger with Calgary-based Enerplus Corporation (TSX: ERF) (NYSE: ERF) in May 2024 in a stock-and-cash transaction with combined enterprise value of approximately $11 billion. The combined entity holds 1.3 million net acres in the Williston Basin. The deal created a leading Williston Basin operator with approximately 287,000 boe/d […]
APA Corporation (NASDAQ: APA) closed its $4.5 billion all-stock acquisition of Callon Petroleum in April 2024, significantly expanding its Permian Basin footprint, particularly in the Delaware Basin where Callon held nearly 120,000 net acres. The deal boosted APA's pro forma total production to more than 500,000 boe/d and increased its enterprise value to over $21 […]
Matador Resources Company (NYSE: MTDR) closed its $1.8 billion cash acquisition of EnCap-backed Ameredev II in September 2024. The deal added approximately 33,500 net acres in Lea County, New Mexico, and Loving and Winkler Counties, Texas, in the Delaware Basin. The transaction added 25,000-26,000 boe/d of production and 371 net operated drilling locations, with about […]
Vital Energy and Northern Oil and Gas jointly acquired Point Energy Partners from Vortus Investments for $1.1 billion in cash in September 2024. Vital took 80% of the assets while Northern took the remaining 20%. The deal added approximately 16,300 boe/d of production and 68,000 net acres in the Delaware Basin's Ward and Reeves counties. […]
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 […]