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DOE Awards Additional Strategic Petroleum Reserve Exchange Barrels to Bolster Fuel Supply Chain
January 3, 2022
The U.S. Department of Energy (DOE) approved a third exchange of two million barrels of crude oil for release to ExxonMobil from the Strategic Petroleum Reserve (SPR). This release falls under the authorization published in the DOE announcement on November
Aker BP and Lundin Energy to Merge in $14 Billion Deal
January 3, 2022
Norway’s Aker BP will buy the oil and gas business of Sweden’s Lundin Energy, forming the second-largest listed petroleum firm on the Norwegian continental shelf, the two companies said on Tuesday. The cash and stock transaction values the acquired assets
Independence Energy and Contango Oil and Gas Complete Merger, Forms Crescent Energy Company
December 20, 2021
Crescent Energy Company has completed the combination of Independence Energy and Contango Oil & Gas Company, creating a premier, diversified and well-capitalized U.S. energy company focused on consolidation. Crescent’s investment approach will build on a long track record of prioritizing
Earthstone Energy to Acquire Chisholm Energy’s Northern Delaware Basin Assets for $604 Million
December 20, 2021
Earthstone Energy has entered into an agreement to acquire the assets of privately held Chisholm Energy Holdings located in the northern Delaware Basin of New Mexico. Chisholm is majority owned by Warburg Pincus and its affiliates. “The Chisholm Acquisition caps
Diversified Energy Completes Tapstone Acquisition
December 20, 2021
Diversified Energy Company has closed on its acquisition of Oklahoma-based Tapstone Energy Holdings. The transaction consists of certain upstream assets, field infrastructure, equipment and facilities. Oaktree Capital Management completed its co-investment in the acquisition. “As we close our fourth acquisition
Northern Oil and Gas Promotes COO Adam Dirlam to President
December 20, 2021
Northern Oil and Gas’ chief operating officer, Adam Dirlam, has been promoted effective immediately to serve as president. “During an incredibly transformational year for our company, it has become clear that Adam is ready and deserving of the role of
Cenovus Energy to Sell Tucker Thermal Assets for $800 Million
December 17, 2021
Cenovus Energy has reached an agreement to sell its Tucker thermal asset for total cash proceeds of $800 million. Proceeds from this transaction will further accelerate the company’s reduction of net debt and enhance its capacity to increase shareholder returns.
FERC Proposes $40 Million Civil Penalty for Energy Transfer’s Rover Pipeline
December 17, 2021
The U.S. Federal Energy Regulatory Commission on Thursday ordered Energy Transfer Partners and its Rover Pipeline unit to explain why the company should not pay a $40 million civil penalty for alleged violations during construction of a 711-mile-long (1,144-km) interstate
EIA: Permian Oil Output Forecast to Hit Record High in January
December 17, 2021
The largest U.S. shale basin’s output will surge to a record in January, according to a monthly forecast from the U.S. Energy Information Administration on Monday. Crude output from the largest U.S. shale basin, the Permian basin of Texas and
EnCap’s Affiliate Paloma Partners to Acquire Goodrich Petroleum for $480 Million
December 16, 2021
Goodrich Petroleum Corporation has entered into a definitive merger agreement to which a subsidiary of Paloma Partners VI Holdings, an affiliate of EnCap Energy Capital Fund, will commence a tender offer to acquire all of Goodrich’s outstanding common shares for
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