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
Utica Oil’s Infinity IPO Values its Play at $48,000 per Boe/d
2025-01-30 - Private-equity-backed Infinity Natural Resources’ IPO pricing on Jan. 30 gives a first look into market valuation for Ohio’s new tight-oil Utica play. Public trading is to begin the morning of Jan. 31.
Utica Liftoff: Infinity Natural Resources’ Shares Jump 10% in IPO
2025-01-31 - Infinity Natural Resources CEO Zack Arnold told Hart Energy the newly IPO’ed company will stick with Ohio oil, Marcellus Shale gas.
Riverstone’s Leuschen Plans to IPO Methane-Mitigation-Focused SPAC
2025-01-21 - The SPAC will be Riverstone Holdings co-founder David Leuschen’s eighth, following the Permian Basin’s Centennial Resources, the Anadarko’s Alta Mesa Holdings and the Montney’s Hammerhead Resources.
Venture Global LNG Pares IPO Hopes by 15% to $2.2B
2025-01-22 - LNG exporter Venture Global nearly halved the price per share, while increasing the number of shares it expects to offer.
Confirmed: Liberty Energy’s Chris Wright is 17th US Energy Secretary
2025-02-03 - Liberty Energy Founder Chris Wright, who was confirmed with bipartisan support on Feb. 3, aims to accelerate all forms of energy sources out of regulatory gridlock.
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.