The additional leasehold increases Trio’s footprint by about 8%, from 8,600 acres to 9,267 acres, the company said.
Crescent Energy will acquire operated interests and working interests from Mesquite Energy while nearly doubling its inventory in the play.
E&Ps continue to look at the Permian Basin for undeveloped acreage, but deal activity in the Eagle Ford Shale surged in the first quarter as buyers searched for producing assets.
Crestwood, which owned half of the Tres Palacios gas storage facility, said it would use proceeds from the deal to pay down debt.
The deal's exclusivity period, extended already from the original deadline of December 2022 to April 30, will now end on Aug. 31.
For Enbridge, the purchase of the Montney storage mirrors a deal the midstream company made in March to buy gas storage on the U.S. Gulf Coast.
Exxon Mobil grew oil and gas production in the Permian Basin to record levels during the first quarter, the supermajor reported in earnings.
Antero Resources about 12,000 net acres and more than 50 equivalent incremental drilling locations in the Marcellus at an average cost of $1 million per location.
In an interview with Hart Energy, Pioneer CEO Scott Sheffield and his newly announced successor Richard Dealy discussed the future of the Permian Basin and the E&Ps own M&A strategy.
U.S. Energy Development Corp. acquired a 25% working interest in the Midland Basin’s Mascot Project, which include at least 50 undeveloped well locations.