Acquisitions & Divestitures

Revolutionizing Oil And Gas Environmental Due Diligence With ESG Dynamics

Environmental Due Diligence / /

How is ESG Dynamics reshaping environmental due diligence? In the fast-paced world of oil and gas acquisitions, environmental due diligence is a critical step to assess risks and maximize regulatory compliance. However, this process has historically been time-consuming and costly. A typical assessment may take several weeks to months, contingent on its depth and breadth. The […]

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CrownRock: 2022 Upstream GHG IQ Report

Environmental Due Diligence / /

Occidental Petroleum (OXY) to buy pure-play Permian producer CrownRock for $12 billion.  CrownQuest is the parent company of CrownRock. The pure-play Permian operator continued to ramp up production, reaching an average rate of 154 thousand barrels of oil equivalent per day (MBOE/D) in 2022. This was accomplished via a steady drilling and completions program, with

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Diamondback Acquires Lario with Unclear Environmental Picture

A&D Spotlight / /

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

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Diamondback’s ESG Goals Could Extinguish FireBird Flares

A&D Spotlight / /

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

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Earthstone and Apa Corp (Apache) Face Opposite ESG Impacts from Two Titus Delaware Basin Deals

A&D Spotlight / /

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

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Devon’s New Eagle Ford Assets Bring New Flaring Challenge

A&D Spotlight / /

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

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Centennial and Colgate’s Delaware Basin Merger Draws an ESG Spotlight

A&D Spotlight / /

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

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The ESG Impact of ExxonMobil’s Barnett Divestiture to BKV Corporation

A&D Spotlight / /

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

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Environmental Implication of ConocoPhillips Acquisition of Shell Permian Assets

A&D Spotlight / /

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

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