Professional M&A intelligence for the energy transition
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 […]
Civitas Resources acquired NGP-backed Hibernia Energy III's Midland Basin assets for $2.25 billion in August 2023. The deal added 38,000 boe/d of production and 38,000 net acres in Reagan and Upton counties, Texas.
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 […]
Chevron Corporation (NYSE: CVX) acquired PDC Energy (NASDAQ: PDCE) in an all-stock transaction valued at $6.3 billion, or $72 per share. The total enterprise value, including debt, of the transaction is $7.6 billion. The acquisition provides Chevron with assets expected to deliver higher returns in lower carbon intensity basins in the U.S. PDC brings strong […]
Occidental (NYSE: OXY) acquired Midland-based oil and gas producer CrownRock in a cash-and-stock transaction valued at about $12 billion, including debt. The deal adds roughly 94,000 net acres in the Permian Basin’s Midland Basin and about 170,000 barrels of oil equivalent per day of production, strengthening Occidental’s U.S. onshore portfolio. The transaction was expected to […]
Diversified Energy acquired Maverick Natural Resources' Permian Basin assets for $1.27 billion, marking the company's first foray into the Permian, America's most productive oil and gas play. The deal adds production-heavy, long-life assets to Diversified's portfolio. According to Enverus, Permian land has been prioritized for acquisitions because high-quality inventory generates strong returns through the commodity […]
EQT will acquire upstream and midstream assets of Olympus Energy for $1.8 billion, including $1.3 billion in stock and $500 million in cash. The assets include 90,000 net acres in Southwest Pennsylvania, producing about 500 MMcf/d, with over 10 years of Marcellus inventory and 7 years of Utica upside.