Vice President of Accounting
Diamondback Energy and Kinetik Holdings increased their ownership stakes in the Permian Basin to the Gulf Coast 800-mile EPIC Crude pipeline. Each partner owns 27.5% of the 600,000-BBLD system.
United Arab Emirates clean energy giant Masdar acquired Saeta Yield for $1.4 billion. The deal includes 538 MW of wind assets in Spain, 144 MW of wind assets in Portugal, and 63 MW solar PV assets in Spain along with a 1.6 GW development pipeline.
Macquarie Asset Management purchased $1.73 billion in ownership of D.E. Shaw Renewable Investments. D.E. Shaw has a portfolio across 24 states with 10 GW of generation capacity, which can power 2 million homes.
Vivakor purchased Endeavor Crude for $120 million. Endeavor is a midstream logistics business that transports, stores, treats, remediates, and sells crude oil, produced water, and associated hydrocarbons with long-term contracts in the Permian Basin, Eagle Ford Shale, and the Oklahoma STACK.
Marubeni, a Japanese company, acquired 50% of Ozona CCS’ carbon capture and storage project in South TX that includes capturing CO2 emitted from gas production and processing plants, transporting via pipelines and storing in saline aquifers about 2 to 3 KM underground.
Validus Energy purchased Citizen Energy for $2 billion. Citizen’s assets are located in OK, KS, TX, and AR.
Dorchester Minerals acquired mineral and royalty interests in the Permian and DJ basins including 14,529 acres across 14 counties in NM and West TX and 1,204 net royalty acres in Weld County, CO.
Enbridge spent $3.1 billion to acquire Public Service Co. of North Carolina, which serves 600,000 customers in NC and has 13,000 miles of distribution and transmission pipelines and an LNG storage facility under construction.
PEDEVCO acquired 30% working interest to jointly develop 10,750 net acres in the SW Pony Prospect in Weld County, CO through a five-year participation agreement with a large Denver based D-J Basin E&P company. The development includes drilling a minimum of five horizontal Niobrara wells per year over the next five years.
Tailwater E&P acquired non-operated working interests in 5,000 net acres in Midland and Delaware basins from Accelerate Resources.
SM Energy and NOG acquired Uinta Basin operator XCL Resources for $2.6 billion. SM acquired 80% and NOG acquired the remaining 20% of 63,300 net acres and 465 net locations with net proved reserves of 110 MMBOE.
Viper Energy acquired Midland Basin mineral and royalty interests for $915 million from Tumbleweed Royalty. Viper expects Diamondback to complete between 120 and 140 gross locations beyond existing DUCs and permits on the acquired properties through the end of 2026.
Summit Midstream acquired Tall Oak Midstream for $450 million. Tall Oak’s assets include 220 MMCFD natural gas processing plants and 411 miles of gas gathering lines in the Arkoma Basin in AR and OK.
According to the EIA, electricity consumption is growing fastest in TX. One of the main sources of growing demand for power is large-scale computing facilities such as data centers and cryptocurrency mining operations. Electricity demand from customers considered large flexible load will total 54 billion KWH in 2025, up almost 60% from expected demand in 2024.
Prairie Operating purchased Nickel Road Operating for $84.5 million. Nickel Road has 5,592 net leasehold acres, 26 operated horizontal wells, and 89 operated well permits in Weld County, CO.
Mach Natural Resources acquired operating interest and leasehold from undisclosed sellers for $136 million. Mach acquired 3,590 net acres and 19 operated wells in the Ardmore Basin and 128,788 net acres and 270 operated wells in the Anadarko Basin of OK and western KS with combined production of 5,220 BOED.
Texas Pacific Land Corp spent $286 million on Midland Basin royalty interests spanning 7,490 net royalty acres in Martin and Midland counties, TX. Exxon Mobil and Diamondback operate 60% of the acquired acreage, with production of 1,300 BOED.
TotalEnergies acquired a 50% stake in two wind projects in Germany’s North Sea being developed by RWE. Each project will generate wind capacities of 2 GW.
McDermott International sold its CB&I storage solutions business to Mason Capital Management for $475 million. CB&I builds storage facilities, tanks, and terminals across multiple sectors of the energy industry, including wastewater, upstream, downstream, petrochemical, and industrial.
Tourmaline Oil acquired Montney Shale assets from Crew Energy for $950 million. The assets produce 30,000 BOED.
Chevron sold its Athabasca Oil Sands assets and Duvernay Shale assets in Canada to Canadian Natural Resources for $6.5 billion.
Viking Minerals sold its funds II and III interests for $22 million to an undisclosed buyer.
Woodside Energy acquired Tellurian for $900 million and renamed the Driftwood LNG development Woodside Louisiana LNG. The facility under-construction is a pre-final investment decision, liquefaction, and export terminal in Calcasieu Parish, LA with permitted capacity of 27.6 million tonnes per annum.
Exxon leased the largest offshore CO2 storage site in the U.S. from the Texas General Land Office. The site near Jefferson, Chambers, and Galveston counties, TX covers 271,000 acres and complements Exxon’s CO2 pipeline network, the largest in the U.S.
Shell New Energies and EDF Renewables plans for the 2.8 GW Atlantic Shores South offshore wind project were approved by BOEM. The construction and operations plan includes 197 locations for wind turbine generators, offshore substations, and a meteorological tower, with subsea transmission cables making landfall in Atlantic City and Sea Girt.
APA and TotalEnergies reached a final investment decision for first oil development in Block 58 offshore Suriname. The fields hold recoverable reserves estimated at 750 MMBBL and the project includes a 220,000 BBLD floating production, storage, and offloading unit.
Nabors acquired Parker Wellbore for $372 million, adding a large-scale, high performance tubular rental and repairs services operation to the Nabors portfolio.
Matador Resources acquired Ameredev for $1.83 billion, which includes 2,000 net locations in the Delaware Basin. Proved oil and natural gas reserves total 118 MMBOE.
EnSight IV Energy Management sold 7,000 net acres in Caddo, De Soto, Bossier, and Red River parishes, LA to Quantent Energy Partners that include PDP and undeveloped acreage in a high-quality reservoir.
Amber Energy was selected to purchase Citgo Petroleum for $7.286 billion. The sale was the result of U.S. sanctions placed on Venezuela’s PDVSA, the owner of Citgo parent, PDV Holding.
ARC Resources divested non-core, non-Montney assets for $80 million.
Methanex acquired OCI Global’s methanol business for $2.05 billion, including OCI’s interest in two methanol production facilities in Beaumont, TX. Combined, the facilities will provide Methanex 1.76 million tonnes annually of methanol.
APA sold non-core producing Permian Basin assets to an undisclosed buyer for $950 million. Net production is 21,000 BOED.
Aramco increased its interest in MidOcean Energy purchasing 15% interest from Hunt Oil. Aramco now owns 49% interest in MidOcean, and as a result of the transaction, MidOcean now owns 35% in Peru LNG, the only LNG export facility in South America.
SCF Partners acquired Newpark Fluid Systems, an oil and gas and geothermal fluids solution, for $127.5 million.
WhiteHawk Energy acquired Marcellus Shale natural gas mineral and royalty interests covering 435,000 gross unit acres across southwestern PA and WV. The acreage is operated by Antero, EQT, Range Resources, and CNX. WhiteHawk now owns natural gas mineral and royalty interests across more than 1 million Marcellus acres and 3,400 producing wells.
ONEOK spent $5.9 billion for EnLink Midstream and Medallion Midstream. EnLink’s Permian plants produce 220,000 BBLD of NGLs. Medallion is the largest privately owned crude midstream company in the region, with 1,300 miles of pipeline and storage facilities in the Midland Basin.
Texas Pacific Land acquired mineral interests in the Delaware and Midland Basins for $169 million that included 4,106 net royalty acres in northern Culberson County, TX operated by Coterra Energy.
Bison Oil & Gas has executed five acquisitions and multiple acreage swap and farm-out deals amassing a 210,000-net-acre position, 83% HBP, with 400 net inventory locations, making them the second largest operator in the D-J Basin.
Allied Resource Partners purchased 5 square miles, or 3,200 acres, in Grove County, KS and will drill eight wells in the area.
Enterprise Products acquired Piñon Midstream for $950 million. Piñon was approved to store CO2 in acid gas injection wells in NM; gas is injected 18,000 ft below the surface. Assets also include 50 miles of natural gas gathering and redelivery pipelines, five 3-stage compressor stations, 270 MMCFD of hydrogen sulfide and CO2 treating facilities. Piñon is supported by fee-based contracts with long-term acreage dedications, including minimum volume commitments.
Diversified Energy paid $68 million for interest in 331 net East Texas PDP wells with 21 MMCFED of production and 70 BCFE in PDP reserves.
BP sold its 20% stake in the Trans Adriatic Pipeline AG to Apollo for $1 billion. The pipeline has 880 KM of the Southern Gas Corridor pipeline that transports natural gas from the Shah Deniz field near the Caspian Sea to Greece and Italy.
According to the EIA, U.S. natural gas-fired power plants generated 5.9 million MW-hours per day of electricity in the summer of 2024, half of all electricity generated in the contiguous United States. As electric generation capacity from renewable sources grow, natural gas is used increasingly to balance the intermittent nature of electricity produced from wind and solar. Since 2014, generation from natural gas in the summer has increased from 29% in 2014 to 45% in 2024.
SLB sold its interests in the Palliser Block located in Alberta, Canada to an undisclosed buyer. The Palliser Block consists of oil and gas wells, surface facilities, a pipeline network, and certain oil and gas development rights.
Phillips 66 sold its 49% non-operated interest in Switzerland’s CMA, operator of 324 retail sites and petrol stations in Switzerland for $1.24 billion.
KKR acquired 24% of Eni’s biofuels unit Enilive for $3.17 billion. Enilive specializes in biorefining, biomethane production, smart mobility solutions, and the marketing and distribution of energy carriers such as hydrogen.
The EIA’s latest short term energy outlook cut its West Texas Intermediate oil price forecast for 2025 from $ 79.63 per barrel to $ 73.13 per barrel. Separately, the Dallas Fed Energy Survey results show the 2025 West Texas Intermediate oil price is expected to be $ 73.00 per barrel at mid-year and $76.00 per barrel by year end.