This is your Hart Energy A&D Minute with Jordan Soto and powered by Executive Oil Conference.
Upstream oil and gas M&A stormed back in the third quarter with $16 billion in announced transactions—the year’s strongest showing after a hit-and-miss first half.
Tudor, Pickering, Holt & Co. analyst Matt Portillo noted that: “Since 2021, the public universe has taken out some notable privates in both oil and gas basins.”
And he expects private-to-public consolidation to continue in 2023 as “private operators have started to reach free cash flow inflection points that could allow for further deals to occur.”
Deals this past week include:
- The sale of Exxon Mobil’s Montana oil refinery for $310 million to Houston-based Par Pacific.
- And Danish energy firm Ørsted sold a $410 million stake in U.S. wind and solar projects to private equity firm Energy Capital Partners.
That’s your Hart Energy A&D Minute powered by Executive Oil Conference—gain insight into global energy security, inflation plus the latest trends and technologies Nov. 15 and 16 in Midland, Texas.
Also, watch new A&D Minute episodes every Wednesday, and don’t forget to sign up for our A&D Watch newsletter at HartEnergy.com/newsletters/ad-watch.
Recommended Reading
Helmerich & Payne Seals $1.97B Deal for KCA Deutag
2025-01-16 - Helmerich & Payne has completed its acquisition of KCA Deutag International Ltd. as it positions itself as a global onshore drilling powerhouse.
GridStor Acquires Battery Storage Project from Black Mountain
2025-01-16 - GridStor’s acquisition of the battery energy storage project in Oklahoma from Black Mountain Energy Storage comes amid a need for new power resources to support the region’s electric system reliability.
Green Lantern Sells Vermont Solar Project to Sea Oak Capital
2025-01-15 - Green Lantern Solar’s 500-kW Brighton Solar project is sited on the closed portion of an operating family-owned gravel operation.
Report: Will Civitas Sell D-J Basin, Buy Permian’s Double Eagle?
2025-01-15 - Civitas Resources could potentially sell its legacy Colorado position and buy more assets in the Permian Basin— possibly Double Eagle’s much-coveted position, according to analysts and media reports.
Amplify to Add D-J, Powder River Assets in Merger Agreement with Juniper Capital
2025-01-15 - Amplify Energy Corp. is combining with certain Juniper Capital portfolio companies in a merger agreement that adds 287,000 acres in the Denver-Julesburg and Powder River basins.
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.