Aera Energy LLC
Transactions
California Resources Closes Aera Energy Merger for $1.13B
California Resources Closes Aera Energy Merger for $1.13B
Exxon Mobil, Shell Divest Large California Oil Producer Aera Energy
Exxon Mobil, Shell Divest Large California Oil Producer Aera Energy
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News
California Mergin’: CRC-Aera Combination Creates Golden State Scale
CRC President and CEO Francisco Leon believes the state needs to bolster its own oil and gas production—not all citizens and lawmakers agree.
Private Producers Find Dry Powder to Reload
An E&P consolidation trend took out many of the biggest private producers inside of two years, but banks, private equity and other lenders are ready to fund a new crop of self-starters in oil and gas.
CEO: Berry Seeks Horizontal Drilling Opportunities in Uinta Basin
Berry Corp., which has a large footprint in California’s San Joaquin Basin, might be more excited about deals and drilling near its Uinta Basin acreage.
Come Together: California Resources, Aera Merge for Scale, Drilling Runway
California Resources Corp. closed an acquisition of Aera Energy to become California’s top oil and gas producer. Now, CRC President and CEO Francisco Leon wants to grow from a one-rig to an eight-rig drilling program—but faces stiff pushback from regulators and environmental advocates in the Golden State.
California Resources Wraps $1.1B Deal, Becomes State’s Top Oil Producer
California Resources Corp.’s deal to acquire Aera Energy for more than $2 billion, including debt, makes it the state’s largest oil producer at 146,000 boe/d, 79% oil, the company said.
It’s All Relative: Family Oil Companies Attract Huge M&A Attention
What role do firms controlled by descendants of the original Permian Basin wildcatters play in a sector increasingly dominated by scale?
Hunting for Growth: Petro-Hunt Digs Deeper into Delaware, Williston
Dallas-based Petro-Hunt, one of the nation’s largest private oil and gas producers, is drilling in the Permian and Williston basins—and keeping an eye out for accretive M&A.
Aera Energy Lands $2.8MM in DOE DAC Funding
The funding will be used to conduct a feasibility study to establish the viability of direct air capture as a business and technology in California, the company says.
Berry Bolts On More California Assets as Kern County M&A Continues
As Berry Corp. continues its aggressive hunt for growth opportunities outside of California, the E&P made a second bolt-on acquisition in Kern County in the fourth quarter.
California Resources Corp., Aera Energy to Combine in $2.1B Merger
The announced combination between California Resources and Aera Energy comes one year after Exxon and Shell closed the sale of Aera to a German asset manager for $4 billion.
Private Equity Returns to Oil and Gas Industry
As private equity firms return to upstream oil and gas, firms might raise up to $15 billion for oil and gas upstream, but the industry could use up to $25 billion, experts said.
Shell, Exxon Face Delays in Exiting California Oilfield
The sale of Aera Energy to German asset manager IKAV was supposed to close this month but is still pending review by the U.S. Committee on Foreign Investment.
Exxon Mobil, Shell Divest Large California Oil Producer Aera Energy
The total transaction value was not disclosed. However, in its release, Shell noted that the sale of its 51.8% membership interest in Aera Energy is for a total consideration of approximately $2 billion in cash.