Borr Drilling Divests Mexico Joint Ventures (Perfomex) to Local Partner

Continental Resources Acquires 50% Interest in Phoenix Global Resources, Forming a 50/50 Vaca Muerta JV with Mercuria

August 20, 2026

Oil & Gas

Mercuria’s Phoenix Global Resources announced that Continental Resources has signed a Heads of Agreement to acquire a 50% interest in Phoenix. After completion, Mercuria and Continental will become equal owners of a newly formed 50/50 joint-venture operating company focused on developing and expanding Phoenix’s Vaca Muerta position in Argentina.

Parex Resources Acquires Frontera Energy’s Colombian E&P Assets for $750 Million Firm Value

March 10, 2026

Energy

Parex Resources entered into a definitive arrangement agreement to acquire Frontera Energy’s upstream Colombian exploration and production business (Frontera E&P Assets) for $500 million cash at closing plus a $25 million contingent payment, valuing the deal at approximately $750 million including assumed debt. The transaction was structured as a plan of arrangement under British Columbia law and closed on June 1, 2026, with Frontera transitioning to a standalone infrastructure company and distributing capital back to shareholders.

Borco U.S.A. Acquires Permian-based Well Service Company

February 19, 2026

Oil & Gas

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.

Dril-Quip and Innovex Downhole Solutions Complete Merger, Creating Innovex International (NYSE: INVX)

September 6, 2024

Industrial Services

Dril-Quip, Inc. (NYSE: DRQ) completed its previously announced all-stock merger with Innovex Downhole Solutions, Inc. to create a combined energy-industrial platform under the Innovex International name. The merged company began trading on the New York Stock Exchange on September 9, 2024 under ticker INVX.

Permico Founders Acquires Assets of Permico Midstream Partners

March 3, 2022

Oil & Gas

Permico Founders, LLC acquired the assets of Permico Midstream Partners, LLC through a Chapter 11-administered sale that closed March 3, 2022. The development-stage Houston midstream company — which focuses on transporting and processing natural gas liquids (NGLs) and marketing end products — sold its assets as part of a restructuring; GulfStar served as financial advisor to the trustee during the process.

Ranger Energy Services Acquires PerfX Wireline Services

July 9, 2021

Oil & Gas

Ranger Energy Services, Inc. (NYSE: RNGR) completed the acquisition of PerfX Wireline Services on July 8, expanding its Mallard wireline business alongside the recent Patriot Completion Services acquisition. The transactions add significant assets (wireline trucks, pumps, cranes), eight locations and 27 customers, and include a warrant giving Ranger a 30% ownership option in XConnect; Ranger issued shares and assumed certain equipment-related debt as part of the combined deals.