Professional M&A intelligence for the energy transition
Harbour Energy completed the acquisition of LLOG Exploration Co. for $3.2 billion, marking the company's strategic entry into the U.S. Gulf of Mexico offshore oil and gas market. The transaction comprised $2.7 billion in cash and $0.5 billion in Harbour shares, strengthening Harbour's global upstream portfolio and establishing a new core business unit alongside its […]
Viper Energy, a subsidiary of Diamondback Energy, completed its all-equity acquisition of Sitio Royalties, combining two publicly-traded mineral and royalty companies, for about $4.1 billion, including net debt of roughly $1.1 billion. The merger will combine two publicly-traded mineral and royalty companies and expand Viper's portfolio of oil and gas mineral and royalty interests across […]
EOG Resources agreed to acquire Encino Acquisition Partners (EAP) from affiliates of CPP Investments and Encino Energy in a transaction valued at $5.6 billion including net debt. The acquisition adds about 675,000 net acres in the Utica Shale in Ohio, expanding EOG's position in the basin to roughly 1.1 million net acres and strengthening its […]
Repsol and HitecVision's joint venture NEO NEXT Energy agreed to merge with TotalEnergies' U.K. upstream oil and gas business, forming a new company called NEO NEXT+. After completion, TotalEnergies will hold 47.5%, HitecVision 28.875%, and Repsol 23.625% of the combined entity, which is expected to become the largest independent oil and gas producer in the […]
Verdad Resources completed the sale of its operated oil and gas portfolio to Peoria Resources, a subsidiary of JAPEX (U.S.) Corp. in a transaction valued at about $1.26 billion. The deal includes Verdad's exploration and production assets in the Denver-Julesburg Basin, comprising roughly 101,000 net acres across Colorado and Wyoming focused on the Niobrara and […]
U.S. Energy Development Corp. (USEDC) acquired an oil and gas asset in the Permian Basin for about $390 million, adding roughly 20,000 net acres in Reeves and Ward counties, Texas. The company also increased its syndicated revolving credit facility led by Citibank from $165 million to $300 million to support the acquisition and future growth.
ConocoPhillips agreed to sell its interests in the Ursa and Europa fields and its stake in Ursa Oil Pipeline to subsidiaries of Shell for $735 million, as part of its strategy to divest non-core assets. The deal includes a 15.96% interest in the Ursa field, a 1% interest in the Europa field, and an overriding […]
SM Energy completed its all-stock merger with Civitas Resources, creating a larger U.S. shale producer with an enterprise value of about $12.8 billion. Civitas shareholders received 1.45 SM Energy shares per share and now own about 52% of the combined company, which continues to operate under the SM Energy name.
Diversified Energy Company (NYSE:DEC; LSE:DEC) completed its acquisition of Oklahoma-based Canvas Energy in November 2025, expanding its leadership position in Oklahoma with an accretive natural gas acquisition. The deal adds production of approximately 11,000 barrels of oil equivalent per day consisting of 99% natural gas for the first four months of 2025. Kirkland & Ellis […]
Diamondback Energy (NASDAQ: FANG) subsidiary Viper Energy acquired certain mineral and royalty interests from subsidiaries of Diamondback Energy in a drop-down transaction valued at about $4.45 billion. The deal includes $1 billion in cash and approximately 69.6 million operating company units issued by Viper's operating subsidiary. The OpCo units will be issued alongside an equal […]