Amber Energy Approved to Acquire CITGO (via PDV Holding) Pending 2026 Closing

Gold Reserve/Dalinar Energy Bids for PDV Holding (Parent of CITGO) in Delaware Court Sale Process (Red Tree Stalking Horse; Amber/Elliott Ultimately Selected)

April 16, 2025

Energy

In a Delaware bankruptcy-court sale process, Gold Reserve’s U.S. acquisition subsidiary Dalinar Energy submitted bids to purchase the shares of PDV Holding, Inc. (the indirect parent company of CITGO Petroleum). The U.S. District Court previously approved Red Tree Investments LLC as the stalking horse bidder and later adopted/advanced another bidder selection, with Amber Energy/Elliott referenced as the ultimately selected buyer in the court’s decision, subject to regulatory approvals and an OFAC license.

Chevron Acquires PDC Energy in $6.3 Billion All-Stock Transaction

August 7, 2023

Oil & Gas

Chevron Corporation agreed to acquire all outstanding shares of PDC Energy, Inc. in an all-stock transaction valued at $6.3 billion. The deal adds PDC’s oil and gas assets—275,000 net acres in the Denver-Julesburg (DJ) Basin and 25,000 net acres in the Permian Basin—to strengthen Chevron’s position in key U.S. production basins. Chevron later announced the acquisition was completed after PDC shareholder approval.

Renewable Energy Group Acquires Amber Resources (dba Sawyer Petroleum) and Affiliates

January 4, 2022

Oil & Gas

Renewable Energy Group, Inc. (REG) has acquired Amber Resources, LLC (dba Sawyer Petroleum) and affiliated entities M.O. Dion & Sons and Amber Petroleum Products, expanding REG's downstream footprint in Southern California. The acquisition adds over 60 million gallons/year of diesel sales, a significant lubricants business (Shell Prestige distributor), eight locations including three cardlock sites, and is expected to be immediately accretive.

PDC Energy Acquires Great Western Petroleum, LLC

May 6, 2022

Energy

PDC Energy, Inc. completed the acquisition of privately held Great Western Petroleum, LLC, a Denver-based oil and gas producer. The deal included $543 million in cash consideration (less $50 million previously escrowed), approximately 4 million shares of PDC common stock, and PDC paid off Great Western’s secured credit facility and senior secured notes; PDC said the acquisition is accretive to its operating, ESG and financial metrics.

Chevron Acquires Equity Interest in American Natural Gas LLC (Beyond6) from Mercuria

October 1, 2021

Energy

Chevron U.S.A. Inc. closed its previously announced acquisition of an equity interest in American Natural Gas LLC (operator of the Beyond6 CNG fueling network), acquiring a network of about 60 compressed natural gas stations across the United States from Mercuria Energy Trading. The deal expands Chevron's alternative-fuels footprint and supports its strategy to grow lower-carbon and renewable natural gas distribution capabilities.

AVANGRID and PNM Resources Merger Agreement Extended

January 3, 2022

Energy

AVANGRID, Inc. and PNM Resources extended their merger agreement to July 20, 2023, to continue working through the regulatory review process in New Mexico. The companies are also pursuing an appeal process after a December 2021 order rejected a stipulated agreement for approval of the merger, including a Notice of Appeal filed with the New Mexico Supreme Court and related joint motions.