Mergers, Acquisitions & Divestitures

Vermilion Energy Inc. announces strategic deep basin acquisition

December 23, 2024

(Oil & Gas 360) – CALGARY, AB, Dec. 23, 2024 /CNW/ – Vermilion Energy Inc. (“Vermilion”, or the “Company”) (TSX: VET) (NYSE: VET) is pleased to announce it has entered into an arrangement agreement (the “Arrangement Agreement”) to acquire Westbrick Energy Ltd. (“Westbrick”), a privately held oil and gas company operating in the Deep Basin, for total consideration of $1.075 billion by way of a plan

Landbridge completes acquisition of 46,000 acres in Delaware basin

December 23, 2024

(World Oil) – LandBridge has closed its previously announced acquisition of approximately 46,000 largely contiguous surface acres, known as the Wolf Bone Ranch, in the Delaware Basin from a subsidiary of VTX Energy Partners, LLC, a Vitol investment. The Wolf Bone Ranch acquisition strategically expands LandBridge’s position in Reeves and Pecos Counties, Texas, an important region for both oil and natural gas production,

Exclusive-Northern Oil and Gas in bid to acquire smaller rival Granite Ridge, sources say

December 20, 2024

(Yahoo Finance) – Northern Oil and Gas has made an acquisition offer for Granite Ridge Resources, a smaller U.S. producer with operations in basins including the Permian and Eagle Ford, according to people familiar with the matter. Minneapolis, Minnesota-based Northern has submitted at least two offers for Granite Ridge, the sources said, adding the latest bid, made in recent weeks, was

INEOS Energy to acquire oil and gas assets in US Gulf of Mexico

December 16, 2024

( Oil & Gas 360) The third major investment by INEOS Energy in the USA, in the past three years. Capital spend on energy assets in the USA now exceeds $3bn, providing a strong platform for future growth. Deal includes interest in two high quality deep water early production assets (Appomattox and Stampede) in the Gulf of Mexico. Increases INEOS

Vitesse Energy to acquire Lucero Energy in accretive all-Stock transaction supporting increase to Vitesse’s dividend

December 16, 2024

(Oil & Gas 360) HIGHLIGHTS Following closing, acquisition of Lucero is expected to be immediately accretive to Vitesse’s earnings, operating cash flow, free cash flow and net asset value Subject to board approval and closing the transaction, Vitesse expects to increase its cash dividend from $2.10 to $2.25 per share on an annualized basis Upon closing, this acquisition strengthens Vitesse’s

Phillips 66 announces agreement to sell interest in Gulf Coast Express

December 16, 2024

(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)– Phillips 66 (NYSE: PSX) announced today that it has entered into a definitive agreement to sell DCP GCX Pipeline LLC, which owns a 25% non-operated equity interest in Gulf Coast Express Pipeline LLC, to an affiliate of ArcLight Capital Partners, LLC for pre-tax total cash proceeds of $865 million, subject to purchase price adjustments. “With

Tullow Oil confirms talks with Kosmos Energy over potential all-share takeover

December 13, 2024

(Yahoo Finance) – Kosmos Energy has confirmed that it is in “preliminary discussion” with Tullow Oil, an independent oil and gas exploration company, regarding a potential all-share takeover offer. The announcement follows recent media reports speculating about the deal. Tullow Oil, which has faced leadership changes following the resignation of CEO Rahul Dhir on 4 December, acknowledged the approach in

Permian Resources announces divestiture of Midstream gathering systems

December 10, 2024

(Oil & Gas 360) – MIDLAND, Texas – Permian Resources Corporation (NYSE: PR) (“Permian Resources” or the “Company”) today announced it has entered into a definitive agreement to sell its natural gas and oil gathering systems primarily located in Reeves County, Texas to Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik”) for a total cash consideration of $180 million, subject to customary post-closing adjustments.

BP looks to sell a minority stake in its U.S. natural gas pipelines

December 6, 2024

(Oil Price) – BP is looking to sell up to 49% of its U.S. natural gas pipeline network in a deal that could fetch up to $3 billion, Reuters reported on Friday, citing anonymous sources with knowledge of the plans. The potential sale would be part of BP’s efforts to reduce its net debt, which has recently increased, according to some of Reuters’s

Shell, Equinor join to create UK’s largest independent oil and gas company

December 6, 2024

(World Oil) – Equinor and Shell will combine their UK offshore oil and gas assets and expertise to form a new company which will be the UK North Sea’s biggest independent producer, the companies’ UK subsidiaries have announced. The incorporated joint venture (IJV) will be set up to sustain domestic oil and gas production and security of energy supply in

Crescent Energy to acquire Ridgemar Eagle Ford assets in $900M deal

December 5, 2024

(World Oil) – Crescent Energy Company has announced the signing of a definitive agreement to acquire Eagle Ford assets from Ridgemar Energy for upfront consideration of $905 million plus future oil price contingent consideration, subject to customary purchase price adjustments. The acquisition is directly offset Crescent’s core Central Eagle Ford position and builds upon its significant acquisition activity in

Matador Resources Company announces contribution of Pronto Midstream, LLC to San Mateo Midstream, LLC

December 5, 2024

(Oil & Gas 360) – DALLAS–(BUSINESS WIRE)–Dec. 5, 2024– Matador Resources Company (NYSE: MTDR) (“Matador”) today announced that it has executed a definitive agreement whereby Matador would contribute Pronto Midstream, LLC (“Pronto”), Matador’s wholly-owned midstream subsidiary, to San Mateo Midstream, LLC, Matador’s midstream joint venture (“San Mateo”), for a total implied valuation of Pronto of approximately $600 million. At the closing of the transaction, Matador will receive

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