Mergers and Acquisitions

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Berkshire Hathaway Boosts Stake in Occidental Petroleum to Nearly 29%

Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, US News / By

(Reuters) – Billionaire Warren Buffett’s Berkshire Hathaway Inc. acquired another 2.95 million shares in Occidental Petroleum , a regulatory filing showed, bringing his stake in the U.S. oil producer’s common stock to nearly 29%. Berkshire disclosed in a U.S. Securities and Exchange Commission filing on Monday that it paid about $176 million in three separate purchases of …

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Matador to Buy Permian Oil Assets From EnCap for $1.9 Billion

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, Oil, US News / By

Photographer: Callaghan O’Hare/Bloomberg Oil producer Matador Resources Co. agreed to buy assets in the Permian Basin from a portfolio company of EnCap Investments LP for $1.9 billion in cash, the latest in a series of shale industry tie-ups. The deal includes oil and gas producing properties and undeveloped acreage in New Mexico and West Texas owned by …

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How Devon Energy Missed Out on the U.S. Oil and Gas Mega-Deal Wave

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, Oil, Pinned Primary, US News / By

(Reuters) – U.S. oil and gas producer Devon Energy has lost bids to acquire at least three of its peers in the last 12 months because its shares were spurned as acquisition currency, according to people familiar with the negotiations. Devon missed out on the sector’s dealmaking boom by losing to ConocoPhillipsthe $22 billion deal to …

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COMMENTARY: Why Government Should Leave Oil and Gas Mergers Alone – Alex Epstein

Energy Commentary, Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

O&G mergers are good for America because they increase domestic production, which makes oil cheaper and increases our national security. Government should get out of the way immediately. By Alex Epstein Myth: Oil and gas mergers are bad for America because they make oil more expensive. Truth: Oil and gas mergers are good for America …

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Chord Energy and Enerplus Complete Combination, Creating Premier Williston-Focused E&P Company

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, Oil, US News / By

HOUSTON, May 31, 2024 /PRNewswire/ — Chord Energy Corporation (NASDAQ: CHRD) (“Chord”, “Chord Energy” or the “Company”) and Enerplus Corporation (TSX: ERF) (NYSE: ERF) (“Enerplus”) announced today the completion of their previously announced business combination (the “Arrangement”). The Arrangement was approved by Chord and Enerplus shareholders on May 14, 2024 and May 24, 2024, respectively, and received …

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Oil Giants Exxon, Chevron Lean on Big-Ticket Deals to Build Bigger Reserves

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

Cash-rich Exxon Mobil and Chevron are bolstering their oil and gas drilling inventory with multi-billion-dollar takeovers as they bet on resilient demand for years to come. The consolidation wave sweeping through the U.S. energy sector that spurred deals worth $250 billion in 2023 shows no signs of slowing as companies rush to deploy their cash …

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Conoco’s Marathon Deal is Cheap and Cheerful

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.) By Robert Cyran NEW YORK, May 29 (Reuters Breakingviews) – While rivals are going big and risky, ConocoPhillips is taking a cheerful boogie board ride on oil’s merger wave. The $139 billion oil driller said on Wednesday that it has agreed to buy rival Marathon …

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Double Eagle Explores $6.5 Billion Sale of Shale Oil Producer, Sources Say

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, Shale, US News / By

Prolific oil and gas developer Double Eagle is exploring a sale of its latest Permian Basin-based producer in a deal that could be worth more than $6.5 billion, including debt, according to people familiar with the matter. The Double Eagle team is expected to launch a sale process for the producer in the second half …

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ConocoPhillips to Buy Marathon Oil for $22.5 Bln in Latest Energy Merger

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, Tri-Pinned, US News / By

(Reuters) – ConocoPhillips  on Wednesday agreed to buy Marathon Oil  in a $22.5 billion deal, the latest in a series of mega-mergers in the oil and gas industry as companies look to bolster reserves. The U.S. oil and gas industry has been riding a consolidation wave over the last two years. Last year was one of …

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More Hurdels Await Chevron Inches After Hess Shareholder Approval

Energy Topics & Technology, Latest, Mergers and Acquisitions / By

Approval from Hess shareholders was a win, but more hurdles await.   Chevron Corp. cleared the first major hurdle toward closing its $53 billion acquisition of Hess Corp. — and securing a share in one of the world’s most promising oil fields. The chief executive officers of the two companies may want to keep their …

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