A company just made its largest deal. The Permian is still a deal making hotspot, and there's a reemerging oil play that's catching our attention in this A&D Minute sponsored by BOK Financial Securities.
Kimbell Royalty Partners announced its largest deal in company history. They're scooping up Permian Basin and Midcontinent assets from a private seller for $455 million in cash. The oil and gas mineral and royalty interests are located in the core positions of the Delaware, Midland and Midcontinent.
Other deals are being done across the Permian, America's hottest oil basin. Permian pure-play Diamondback Energy sold an ownership interest in Midland Basin crude oil gathering assets for $225 million. The sale helped Diamondback pass its $1 billion divestiture target, but analysts say the company might not be done selling off assets.
And there's another part of Texas that's caught our attention: The Eagle Ford. Magnolia Oil & Gas bolted on assets in the Giddings field in a $40 million deal. Magnolia is focused on the Austin Chalk where it holds 22,800 net acres in the core of Karnes County. Magnolia also holds a large position in the Giddings area, which it says is a “re-emerging oil play with significant upside.”
That's your A&D Minute powered by BOK Financial Securities. Be the first to watch new episodes every Wednesday with our A&D Watch newsletter. Sign up at hartenergy.com/transactions.
Recommended Reading
Viper to Buy Diamondback Mineral, Royalty Interests in $4.45B Drop-Down
2025-01-30 - Working to reduce debt after a $26 billion acquisition of Endeavor Energy Resources, Diamondback will drop down $4.45 billion in mineral and royalty interests to its subsidiary Viper Energy.
EON Deal Adds Permian Interests, Restructures Balance Sheet
2025-02-11 - EON Resources Inc. will acquire Permian overriding royalty interests in a cash-and-equity deal with Pogo Royalty LLC, which has agreed to reduce certain liabilities and obligations owed to it by EON.
Shell Raises Shareholder Distributions and LNG Sales Target, Trims Spending
2025-03-25 - Shell trimmed its annual investment budget to a $20 billion to $22 billion range through 2028 after spending $21.1 billion last year.
BP Pledges Strategy Reset as Annual Profit Falls by a Third
2025-02-11 - BP CEO Murray Auchincloss pledged on Feb. 11 to fundamentally reset the company's strategy as it reported a 35% fall in annual profits, missing analysts' expectations.
Hess Corp. Bucks E&P Trend, Grows Bakken Production by 7%
2025-01-29 - Hess Corp. “continues to make the most of its independent status,” delivering earnings driven by higher crude production and lower operating costs, an analyst said.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.