Sitio CEO Seeks More Mineral, Royalty M&A: ‘We’re Still Too Small’
After growing into one of the nation’s largest public mineral and royalty companies last year through a $4.8 billion merger with Brigham Minerals, Sitio is searching for more deals, primarily in the Permian Basin.
Matador Closes $1.6 Billion Delaware Basin Bolt-on
Matador closed on a $1.6 billion deal to purchase EnCap’s Advance Energy Partners, capturing inventory in the Delaware Basin’s Lea County, New Mexico, and Ward County, Texas.
Energy A&D Transactions from the Week of April 12, 2023
Here’s a snapshot of recent energy deals, including Liberty Energy's purchase of Siren Energy, a Permian-focused CNG provider, and a series of acquisitions by Tailwater Royalties in the Permian, Haynesville and Eagle Ford.
Diamondback Energy Reportedly Exploring Delaware Basin Asset Sale
An analyst said Diamondback’s Pecos County, Texas, assets are inferior to its Midland Basin assets and could help the E&P reach its $1 billion divestiture goal.
Analysts: Shale M&A Opportunities Shrink After Ovintiv’s $4.2 Billion Permian Deal
With Ovintiv Inc. scooping up three EnCap-backed drillers in the core Midland Basin, public E&Ps have fewer places to look to add quality inventory runway, analysts say.
Energy A&D Transactions from the Week of April 5, 2023
Here’s a snapshot of recent energy deals, including Ovintiv's $4.2 billion Midland Basin acquisition and Bakken exit and Riley Permian's $330 deal for New Mexico assets.
Energy A&D Transactions from the Week of March 29, 2023
Here’s a snapshot of recent energy deals, including Brookfield Renewable Partner's $10.3 billion deal to acquire Origin Energy's Australian assets and Crescent Energy Partners' $1.28 billion acquisition of Montney assets.
Oil, Gas Price Volatility Slows Upstream M&A Market
A flurry of oil deals kicked off a strong start to 2023, but upstream dealmaking has slowed to a crawl in recent weeks due to low commodity prices and a banking liquidity crisis.
Vitol’s VTX Energy Partners Completes Southern Delaware Basin Deal
VTX Energy, backed by Swiss oil trader Vitol, purchased 35,000 net leasehold acres with an average production of 40,000 boe/d in the Delaware Basin’s Pecos and Reeves counties, Texas, in a deal Enverus said could be valued at $1.5 billion to $2 billion.
US Shale Basins Boast $54/bbl Average Breakeven Price
The average full-cycle breakeven for U.S. shale basins is approximately $54/bbl, while the average for public E&Ps and private operators is $53/bbl and $58/bbl, respectively, Wells Fargo said, citing Rystad Energy data.