Welcome to a special edition of the A&D minute, where we’re going to look at deals that made it into the $2 billion club. Trivia included!
Starting out in late January, Chesapeake Energy got back to its gassy roots purchase of Chief Oil and Gas for an estimated $2.6 billion. What basin did they simultaneously divest from?
After a bit of a drought, March brought Oasis Petroleum and Whiting together in what many saw as an inevitable $6 billion Bakken merger. Their new name?
Next up, May saw another monster $6 billion deal and creation of the largest pure-play Delaware Basin company, Permian Resources Corp. Which two companies teamed up to make it happen?
September saw a trio of transactions enter the $2 billion club. Brigham Minerals and Sitio Royalties merged in a $4.8 billion deal. EQT agreed to buy Tug Hill for $5.2 billion. And Exxon Mobil and Shell exited California for $4 billion. How long were those supermajors California dreaming?
In October, Harold Hamm made good – and spent $4.3 billion – to take Continental Resources Inc. private. Find out his reasoning here.
And our last megadeal of the year? Marathon Oil Corp.’s acquisition of Ensign Natural Resources with a heft $3 billion cash price tag. Remember the basin?
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