Articles filed under M&A

Upstream mergers and acquisitions (M&A) had a banner year in 2023 in the oil and gas sector, with dealmaking reaching a whopping $192 billion total, according to the latest quarterly tally by Enverus Intelligence Research (EIR).

Could more natural gas-focused exploration and production (E&P) or midstream transactions be in the works after Chesapeake Energy Corp. and Southwestern Energy Co. agreed to combine into the Lower 48’s largest gas producer?

Houston-based Talos Energy Inc. is snapping up QuarterNorth Energy Inc., a privately held U.S. deepwater explorer in the Gulf of Mexico (GOM), as it doubles down to expand its “operational breadth and production profile,” CEO Timothy Duncan said.

Merging the Lower 48 portfolios of Chesapeake Energy Corp. and Southwestern Energy Co. is set to create the largest natural gas pure-play in the United States, becoming a “must-own” company with the resources to redefine the global energy reach of independent producers.

Diversified Energy Co. plc has sold a sliver of its Appalachian Basin natural gas wells for around $230 million to a holding company to reduce debt, but it said it would continue to operate the assets.

Chesapeake Energy Corp. and Southwestern Energy Co., longtime rivals for control in the Lower 48 natural gas patch, agreed to merge Thursday in a combination valued at $7.4 billion, bringing together their estimable resources in Appalachia and the Haynesville Shale.

LNG and Mexico exports are expected to underpin U.S. natural gas demand growth over the coming years, with the Agua Dulce hub in South Texas playing a critical supply role.

Houston’s APA Corp., which in recent years has pursued overseas oil and gas prospects, is storming back to the Permian Basin with a $4.5 billion all-stock takeover of Callon Petroleum Co.

Kinder Morgan Inc. (KMI) has finalized the $1.8 billion acquisition of NextEra Energy Partners LP’s South Texas Midstream LLC, securing natural gas pipeline and storage assets serving Mexico and the Gulf Coast. 

Midstream giant Williams said Wednesday that it has reached a deal to acquire a portfolio of Gulf Coast natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion, capping a busy year for storage acquisitions and expansions.