Diamondback Energy announced yet another Permian acquisition on November 16th. The company agreed to purchase Lario Permian LLC assets focused in the core of the Midland Basin. The century-old family-owned parent company, Lario Oil & Gas, also operates in the Bakken and Mid-Continent. Diamondback offered $1.5 billion in cash and stock for about 25 Mboe/d […]
Diamondback Acquires Lario with Unclear Environmental Picture Read More »
Diamondback Energy continues to grow through a string of Permian Basin acquisitions. On October 11th, it announced that it would buy FireBird Energy’s assets, which includes 22 Mboe/d production and 38,000 acres in the western Midland Basin. FireBird bought more than half of that acreage from Chevron just a year ago. Valued at $1.6 billion
Diamondback’s ESG Goals Could Extinguish FireBird Flares Read More »
Earthstone Energy acquired NGP-backed Titus Oil & Gas in August, as part of its ongoing Permian Basin growth strategy. The $627 million cash plus stock deal brings 7,900 net acres in the northern Delaware Basin, 3 active rigs and 31,800 Boe/d production to Earthstone’s portfolio. The deal follows its first quarter purchases of Bighorn Permian
Devon Energy announced on August 9th that it would acquire private operator Validus Energy, in a $1.8 billion cash transaction slated to close late Q3 2022. The new assets add 42,000 net acres adjacent to Devon’s position in the core of the Eagle Ford play. Validus bought the property from Ovintiv for $0.9 billion just a year
Devon’s New Eagle Ford Assets Bring New Flaring Challenge Read More »
Centennial Resource Development and Colgate Energy plan to merge, becoming the largest pure-play Delaware Basin oil and gas company, valued at $7 billion. The stock market responded positively to the May 19th announcement. Centennial’s stock price quickly reversed a month-long dip, up 47% over two weeks. The press release labeled this “a merger of equals”. Beyond financials, the
Centennial and Colgate’s Delaware Basin Merger Draws an ESG Spotlight Read More »
BKV to buy ExxonMobil’s Barnett assets for $750 million On May 19, 2022, ExxonMobil agreed to sell its Barnet Shale production and midstream assets to BKV Corporation. Closing by end of June, the offer includes $750 million plus extra compensation depending on future gas prices. According to its press release, the sale is part of a
The ESG Impact of ExxonMobil’s Barnett Divestiture to BKV Corporation Read More »
ConocoPhillips acts as a consolidator in the Permian Basin with Concho* and Shell acquisitions *ConocoPhillips acquired Concho Resources for $9.7 billion in October 2020. What does the combined footprint look like? The combined footprint places ConocoPhillips in the Top 2 spot in Permian operated production, lowers the overall GOR, and improves on Flaring and Fuel
Environmental Implication of ConocoPhillips Acquisition of Shell Permian Assets Read More »
