Factbox: Permian set for M&A frenzy as cash-rich producers seek to boost reserves

Baytex Energy

14/09/2023 11:28

(Adds Earthstone Energy, GRP Energy Capital, NGP Energy
Capital, Novo Oil & Gas Holdings and Vital Energy)
       Sept 14(Reuters) - Dealmaking is picking up in the
Permian basin, the largest U.S. oil patch, as drillers look to
quickly rebuild their depleting assets.
    Permian is a prime target for producers looking to increase
their inventory. The shale patch, which lies between Texas and
New Mexico, has the necessary infrastructure and is known for
high productivity and large undeveloped reserves.
    Below is a list of Permian Basin deals signed since the
start of 2023:
    
 Target         Acquirer      Deal type      Deal      Status
                                             value     
                                             (in USD)  
 Ranger Oil     Baytex        M&A            2.5 bln   Pending
 Corp           Energy Corp                            
 Black Swan     Ovintiv Inc   Asset          ~4.3 bln  Pending
 Oil & Gas,                   acquisition              
 Piedra                                                
 Resources and                                         
 PetroLegacy                                           
 II                                                    
 Advance        Matador       M&A            1.6 bln   Completed
 Energy         Resources Co                           
 Partners                                              
 Holdings LLC                                          
 Chesapeake     WildFire      Asset          1.43 bln  Pending
 Energy Corp    Energy        acquisition              
 Chesapeake     INEOS         Asset          1.4 bln   Completed
 Energy Corp                  acquisition              
 Percussion     Callon        M&A            475 mln   Completed
 Petroleum      Petroleum Co                           
 Operating II                                          
 Forge Energy   Vital Energy  Asset          540 mln   Completed
 II Delaware    and Northern  acquisition              
                Oil & Gas                              
                Inc                                    
 XTO Energy     Chord Energy  Asset          375 mln   Pending
 Inc &                        acquisition              
 affiliates                                            
 Diamondback    Undisclosed   Asset          439 mln   Completed
 Energy                       acquisition              
 Pecos Oil &    Riley         Asset          330 mln   Completed
 Gas            Exploration   acquisition              
                Permian                                
 Tanos Energy   Diversified   Asset &        ~250 mln  Completed
 Holdings II    Energy Co     infrastructur            
 LLC                          e acquisition            
 Driftwood      Vital Energy  Asset          214.52    Pending
 Energy                       acquisition    mln       
 Operating LLC                                         
 Pogo           HNR           M&A            120.46    Pending
 Resources LLC  Acquisition                  mln       
                Corp                                   
 Earthstone     Black         Asset          5 mln     Pending
 Energy Inc     Mountain      acquisition              
                Energy Ltd                             
 Chord Energy   BCP           Asset          NA        Completed
                Resources     acquisition              
 Delaware       VTX Energy    Asset          NA        Completed
 Basin          Partners LLC  acquisition              
 Resources                                             
 Cox Operating  Arena Energy  Asset          NA        Completed
 LLC            LLC           acquisition              
 Undisclosed    Elk Range     Asset          NA        Unknown
 private        Royalties Lp  acquisition              
 seller                                                
 Tower Rock     Elk Range     Asset          NA        Completed
 Oil & Gas      Royalties Lp  acquisition              
 Swordfish      Pearl Energy  Investment     NA        Completed
 Energy         Investments                            
 Holdings LLC                                          
                                                       
 Novo Oil &     Earthstone    M&A               1.5    
 Gas Holdings   Energy                       bln       Completed
                                                       
                                                       
                                                       
 Earthstone     Permian       M&A               4.5      Pending
 Energy         Resources                    bln       
                                                       
                                                       
                                                       
 Warwick        Viper Energy  Asset             1 bln    Pending
 Capital        Partners      acquisition              
 Partners and                                          
 GRP Energy                                            
 Capital                                               
                                                       
                                                       
 NGP Energy     Civitas       M&A               4.7      Pending
 Capital        Resources                    bln       
 Management                                            
                                                       
                                                       
 Henry Energy   Vital Energy  Asset             1.17     Pending
 and Henry                    acquisition    bln       
 Resources,                                            
 Tall City                                             
 Property                                              
 Holdings III                                          
 and Maple                                             
 Energy                                                
 Holdings                                              
                                                       
 
 (Reporting by Mrinalika Roy and Tanay Dhumal in Bengaluru;
Editing by Sriraj Kalluvila, Vinay Dwivedi and Shinjini Ganguli)
 ((mrinalika.roy@thomsonreuters.com;))