CrownRock LP
Transactions
BreitBurn Energy Closes Permian Acquisitions For $302 Million
BreitBurn Energy Closes Permian Acquisitions For $302 Million
BreitBurn Energy Partners Closes Permian Basin Acquisition
BreitBurn Energy Partners Closes Permian Basin Acquisition
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New Financings
Priced a private offering of 5.000% senior unsecured notes due 2029. CrownRock, an oil and gas producing…
Pricing a private offering of $185 million aggregate principal amount of 5.625% senior notes due 2025 at…
Priced a private offering of $1 billion principal amount of 5.625% senior notes due 2025. The notes will…
Completed its offering of 7.125% senior unsecured notes due 2021. Proceeds will be used to fund its…
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News
Oxy’s Hollub Drills Down on CrownRock Deal, More M&A, Net-zero Oil
Vicki Hollub is leading Occidental Petroleum through the M&A wave while pioneering oil and gas in EOR and DAC towards the goal of net-zero oil.
Report: ConocoPhillips Shopping Delaware Basin Assets for $1B Sale
ConocoPhillips has laid out a $2 billion divestiture campaign to reduce debt from a blockbuster acquisition of Marathon Oil.
'A Renewed Look': Central Basin Platform's Old Rock Gains New Interest
As majors prune their portfolios to sell non-core assets, M&A activity is heating up on the Permian’s Central Basin Platform and Northwest Shelf—and Ring Energy hopes to be a buyer.
Great Expectations Continue to Round Out a Big Year in A&D
At least $1.8 billion in A&D transactions have taken place already in 2024.
As Permian Targets Grow Scarce, 3Q M&A Drops to $12B—Enverus
Upstream M&A activity fell sharply in the third quarter as public consolidation slowed and Permian Basin targets dwindled, according to Enverus Intelligence Research.
After M&A, Some ‘Stingy’ E&Ps Plan to Hold Operated Shale Inventory
After a whirlwind run of upstream consolidation, experts anticipated a wave of portfolio rationalization and divestitures. But with high-quality drilling locations already scarce, E&Ps may cling to operated inventory.
Despite Low Prices, Thrifty, Efficient E&Ps Keep Distributions Flowing
Even with lower commodity prices, producers have maintained healthy shareholder returns through dividends and buybacks thanks to M&A, drilling efficiencies and capital discipline.
Private Equity Gears Up for Big Opportunities
The private equity sector is having a moment in the upstream space.
Non-op Rising: NOG’s O’Grady, Dirlam See Momentum in Co-purchase M&A
Non-operated specialist Northern Oil & Gas is going after larger acquisitions by teaming up with adept operating partners like SM Energy and Vital Energy. It’s helping bridge a capital gap in the upstream sector, say NOG executives Nick O’Grady and Adam Dirlam.
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.
Could UpCurve Be an M&A Target in Delaware Inventory Scramble?
On a shrinking list of private equity-backed Delaware Basin operators, UpCurve Energy’s CEO told Hart Energy there’s a “reasonable chance” the company’s Reeves County, Texas, assets will be sold off.
APA Executive: After Recent Divestitures, ‘More to Come’
At the EnerCom Denver conference, an APA Corp. executive didn’t address reports that APA was shopping up to $1 billion in Permian Basin assets, but he said the company is looking to shed $2 billion in term loans associated with its purchase of Callon Petroleum.
Oxy Nears $4.5B Debt Reduction Target Post Barilla Draw Sale
Occidental Petroleum, which paid $12 billion to acquire CrownRock LP, looks to achieve 85% of its near-term debt reduction target of $4.5 billion by the end of the third quarter 2024, says Oxy CEO Vicki Hollub.
Debt, Politics and Gas: Ecopetrol Explains Rejecting $3.6B Oxy Deal
Ecopetrol said its decision to not move forward with a $3.6 billion deal to acquire Oxy’s CrownRock LP assets was mainly due to the impact on its leverage, but also political shifts under Colombian President Gustavo Petro.
CrownRock Offloads Oxy Shares Two Weeks After Closing $12B Deal
Underwriters of the offering agreed to purchase CrownRock’s Occidental stock at $58.15 per share, which will result in approximately $1.719 billion in proceeds before expenses.