In addition to bolstering its multi-basin network, ONEOK pulled off a $5.9 billion transaction while leaving its credit rating intact.
With just half as many public E&Ps around today as there were in 2017, Kimmeridge and Managing Partner Ben Dell think the E&P space still has—and needs—plenty more M&A.
After a whirlwind run of upstream consolidation, experts anticipated a wave of portfolio rationalization and divestitures. But with high-quality drilling locations already scarce, E&Ps may cling to operated inventory.
Bankers from CrossFirst, Texas Capital, BOK Financial and Comerica say that after a sluggish season of asset level deals, divestitures will come from larger-scale M&A, but it will take time.
Vivakor purchased Endeavor Crude and related companies, which have a series of long-term strategic partnerships with customers in the Permian Basin, Eagle Ford Shale and Oklahoma’s STACK play.
The acquisition of Tall Oak Midstream III balances Summit Midstream’s crude and natural gas commodity exposure in preparation for high natural gas demand in the coming years, Summit Midstream CEO Heath Deneke said.
Energy Transfer co-CEOs discuss pipeline pain points, needed M&A, regulatory woes and much more in this Midstream Business exclusive.
Citizen Energy, backed by private equity firm Warburg Pincus, started exploring a sale in recent months after Validus Energy offered to buy the company, the sources said.
Legendary dealmaker Stephen Trauber keeps his eyes open for out of the box ideas: Why not a BP-Shell merger? Or Chevon and ConocoPhillips?
Mach Natural Resources announced that the underwriters of its public offering of 7.27 million units have exercised an option to purchase an additional 1 million common units at $16.50 per unit.