Targa Buys Back Bakken Assets After Strong 2024
Targa Resources Corp. is repurchasing its interest in Targa Badlands LLC for $1.8 billion and announced three new projects to expand its NGL system during its fourth-quarter earnings call.
Kinder Morgan Completes Bakken G&P Acquisition from Outrigger Energy II
Kinder Morgan closed on a $640 million deal for a Bakken natural gas gathering and processing network in the Williston Basin.
Intensity Infrastructure Partners Pitches Open Season for Bakken NatGas Egress
Analysts note the Bakken Shale’s need for more takeaway capacity as Intensity Infrastructure Partners launches an open season for a potential 126-mile natural gas transport line out of the basin.
Halliburton-Backed Startup Espiku Nears Water Treatment Pilot
Oregon-based Espiku, in collaboration with Halliburton Labs, aims to help drillers reuse produced water and reduce disposal. The company is scouting potential pilot project sites in the Permian Basin, Bakken and North Texas.
E&Ps Pivot from the Pricey Permian
SM Energy, Ovintiv and Devon Energy were rumored to be hunting for Permian M&A—but they ultimately inked deals in cheaper basins. Experts say it’s a trend to watch as producers shrug off high Permian prices for runway in the Williston, Eagle Ford, the Uinta and the Montney.
Trump Ambiguous Whether Canadian-Mexico Tariffs to Include Oil
At a news conference, President Trump said that he would exclude oil from tariffs before backtracking to say that he “may or may not” impose duties on crude.
Utica Oil’s Infinity IPO Values its Play at $48,000 per Boe/d
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.
Hess Corp. Bucks E&P Trend, Grows Bakken Production by 7%
Hess Corp. “continues to make the most of its independent status,” delivering earnings driven by higher crude production and lower operating costs, an analyst said.
After Big, Oily M&A Year, Upstream E&Ps, Majors May Chase Gas Deals
Upstream M&A hit a high of $105 billion in 2024 even as deal values declined in the fourth quarter with just $9.6 billion in announced transactions.
On The Market This Week (Jan. 20, 2025)
Here is a roundup of marketed oil and gas interests in the Delaware Basin, Midcontinent and Bakken from select sellers.