Energy A&D Transactions from the Week of Oct. 6, 2021
Here’s a snapshot of recent energy deals including the closing of the $9.25 billion all-stock merger of Cabot Oil & Gas and Cimarex Energy forming Coterra plus a Midland Basin bolt-on acquisition by Earthstone Energy.
Best of This Week’s Drilling Activity Highlights (Oct. 1, 2021)
Two Bone Spring wells completed by Devon Energy in a new field in the Permian Basin in New Mexico’s Lea County plus Southwestern Energy Marcellus Shale wells and a gas discovery reported in Jordan top this week’s oil and gas drilling activity highlights from around the world.
Cabot, Cimarex Emerge as Coterra Energy Following All-stock Merger
Coterra Energy, to be headquartered in Houston, was previously estimated to have an enterprise value of approximately $17 billion with a top tier asset base across the Marcellus, Permian and Anadarko shale basins.
Cabot, Cimarex Shareholders Approve Merger to Create US Shale Giant
The deal is expected to close in the fourth quarter of 2021, after which Cimarex Energy shareholders would own 50.5% of the combined entity and Cabot Oil & Gas shareholders the rest.
Best of This Week’s Drilling Activity Highlights (Sept. 24, 2021)
Spraberry Field producers in the Midland Basin announced by Headington Energy plus Chesapeake Marcellus Shale completions in Pennsylvania’s Wyoming County and another Exxon Mobil Guyana discovery top this week’s oil and gas drilling activity highlights from around the world.
Best of This Week’s Drilling Activity Highlights (Sept. 17, 2021)
A Mewbourne Oil well completed in Ochiltree County, Texas, plus a Chesapeake Energy Marcellus Shale discovery as well as additional finds offshore Australia’s Otway Basin and Java Island, Indonesia top this week’s oil and gas drilling activity highlights from around the world.
Influential Proxy Advisory Firm Backs Cabot, Cimarex Shale Merger
Cabot Oil & Gas and Cimarex Energy shareholders are due to convene on Sept. 29 to vote on the potential merger, which was initially announced in May.
Best of This Week’s Drilling Activity Highlights (Sept. 10, 2021)
Marcellus Shale completions in Pennsylvania by Chesapeake Energy in Bradford County and Southwestern Energy in Wyoming County plus a gas discovery offshore Malaysia top this week’s oil and gas drilling activity highlights from around the world.
Best of This Week’s Drilling Activity Highlights (Sept. 2, 2021)
Spraberry Field-Wolfcamp A discoveries by Pioneer Natural Resources in the Permian Basin plus Marcellus and Utica well completions in Pennsylvania’s Greene and Washington counties top this week’s oil and gas drilling activity highlights from around the world.
Appalachian Basin Reports Record-breaking Natural Gas Production
Record-high dry natural gas production in the Appalachian Basin was mainly due to the growth in pipeline takeaway capacity, according to the EIA.