Oil & Gas Buyout Acquisitions in 2026

Borco U.S.A. acquired a Permian-based well service company that operates three active well service rigs, bringing well servicing, workover, and maintenance capabilities in-house. The acquisition strengthens Borco's vertical integration in the Permian Basin, improving operational flexibility, lowering lifting costs, and supporting its recently acquired 220-well package.

Allegheny Petroleum Products has acquired McNutt Oil Company of Maryville, Tennessee in a private transaction. Allegheny will retain McNutt’s employees and facilities and plans to add local manufacturing and blending capabilities at the Maryville site in 2026 to expand its national manufacturing footprint.

Canadian Natural Resources Ltd. has acquired Tourmaline Oil Corp for approximately $800 million, consolidating a major natural gas producer into its portfolio. The deal brings Tourmaline’s Calgary-headquartered natural gas assets and production into Canadian Natural’s operations to expand scale, capabilities and market access across North America and international markets.

Encore Oilfield Services, LLC has acquired Custom Compression Systems, LLC (formerly Williamson Production Systems), a New Iberia, Louisiana-based manufacturer of gas compression systems. The deal adds 103,000 square feet of manufacturing space, heavy lifting capacity (two 80-ton cranes and 70-foot eave heights) and access to 225,000 horsepower of Caterpillar natural gas engines through a partnership with Louisiana Cat, expanding Encore's compression packaging and manufacturing capabilities.

Cactus, Inc. completed the acquisition of a 65% controlling interest in Baker Hughes's Surface Pressure Control (SPC) business, forming a joint venture between the two companies. The transaction expands Cactus's product and service capabilities and geographic footprint in oilfield pressure-control equipment and services; Baker Hughes retains a minority interest and the parties will provide formal financial guidance for the business in Q1 2026.