This company is boosting its stake in a Canadian oil sands project in a $3 billion deal with TotalEnergies. The deal transfers full ownership of the Surmont oil sands asset in Alberta to ConocoPhillips, whose first right of refusal on the project trips up Canadian producer Suncor’s plans to acquire Total’s Canadian business.
After closing a transformational deal earlier this year, VTX Energy Partners is looking for more growth in the Permian and aims to be a consolidator in the fragmented southern Delaware Basin. CEO Gene Shepherd said the company might even look to do M&A outside of the Permian.
The team behind Stronghold Energy II is back and searching for Permian deals. Steve and Caleb Weatherl have secured $500 million in financing for Garrison Energy Holdings. Caleb Weatherl told us that Garrison is evaluating deals in the Delaware Basin, Midland Basin, Central Basin Platform and Northwest Shelf.
And that’s your Hart Energy Live A&D Minute, powered by the Cybersecurity in Energy and Energy Infrastructure and Technology Conference June 27 and 28. Watch new A&D Minute episodes every Wednesday and sign up for our A&D Watch newsletter at hartenergy.com/deals.
Recommended Reading
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
Sunoco’s $7B Acquisition of NuStar Evades Further FTC Scrutiny
2024-04-09 - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for Sunoco’s pending acquisition of NuStar Energy has expired, bringing the deal one step closer to completion.