Professional M&A intelligence for the energy transition
Equinor acquired Suncor Energy's UK for $850 million. The deal will add approximately 15,000 barrels of oil equivalent per day in equity share in 2023 and create synergies with Equinor’s existing operations.
Italian energy major Eni completed its acquisition of Neptune Energy, a diversified upstream E&P company with assets in North Africa, Europe, Asia-Pacific and Norway.
INEOS Energy completed the acquisition of the US Gulf business held by CNOOC Energy Holdings U.S.A., a U.S. subsidiary of CNOOC International. The deal increases INEOS Energy’s production globally to over 90 thousand barrels of oil equivalent per day.
Chesapeake Energy and Southwestern Energy merged in an all-stock deal to form Expand Energy. The combined company became the largest U.S. natural gas producer with 7.9 Bcfe/d production capacity, headquartered in Oklahoma City.
ConocoPhillips acquired Marathon Oil in an all-stock deal valued at $22.5B (incl. $5.4B net debt). The deal added 2B barrels of resources across the Eagle Ford, Bakken, and Permian basins, with expected $500M in annual cost and capital synergies within the first full year.
Shell completed the sale of The Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance. Renaissance Africa Energy Company , a consortium comprising four Nigerian independent energy companies —ND Western Limited, Aradel Holdings Plc, FIRST Exploration and Petroleum Development Company Limited, Waltersmith Group and an international energy company – Petrolin Group.