Crescent Energy Company Acquires Vital Energy, Inc. in All-Stock Deal

Vital Energy Acquires Assets of Driftwood Energy Operating, LLC

February 14, 2023

Energy

Vital Energy, Inc. (NYSE: VTLE) signed a definitive agreement to acquire the assets of Driftwood Energy Operating, LLC, comprising leasehold interests, production and hedges, in exchange for 1,578,948 shares of Vital common stock and $127.6 million in cash. The asset package (effective Jan. 1, 2023) includes ~16,500 gross acres (11,200 net) in Upton and Reagan counties of the Midland Basin, ~5,400 BOE/day production, and an estimated 30 gross operated horizontal locations.

Crescent Energy Acquires Uinta Basin Assets from Verdun/EP Energy for $690M

March 31, 2022

Energy

Crescent Energy Co. closed its purchase of Uinta Basin oil and gas assets in Utah for $690 million, acquiring approximately 145,000 contiguous net acres producing roughly 30,000 boe/d (about 65% oil). The assets were sold by Verdun Oil Co. II LLC (an EnCap Investments-backed vehicle) previously associated with EP Energy; Crescent said the deal expands its Rockies position and adds multiyear development inventory and cash flow.

Vitesse Energy Acquires Lucero Energy in Accretive All-Stock Transaction

December 16, 2024

Oil & Gas

Vitesse Energy, Inc. will acquire Lucero Energy Corp. in an all-stock transaction valued at approximately US$222 million (fully diluted equity value). The deal is expected to close in the second quarter of 2025, and would add Lucero’s operated oil and gas production assets in the Bakken to Vitesse’s portfolio.

Chesapeake Energy Completes Acquisition of Vine Energy Inc.

November 1, 2021

Energy

Chesapeake Energy Corporation completed its previously announced acquisition of Vine Energy Inc., with Vine stockholders receiving 0.2486 shares of Chesapeake common stock plus $1.20 in cash per Vine share. The deal strengthens Chesapeake's position in the Haynesville Shale by adding more than 900 drilling locations and is expected to improve free cash flow and accelerate returns to Chesapeake shareholders.

Victory Capital Acquires New Energy Capital Partners

September 13, 2021

Financial Services

Victory Capital Holdings, Inc. agreed to acquire 100% of New Energy Capital Partners (NEC), adding NEC as its 11th investment franchise and launching an alternative investments platform focused on clean energy infrastructure. NEC, a Hanover, New Hampshire–based alternative asset manager specializing in debt and equity investments in clean energy projects, will operate within Victory Capital's centralized operating and distribution infrastructure.

Independence Energy and Contango Merge to Form Crescent Energy Company

December 7, 2021

Energy

Independence Energy LLC and Contango Oil & Gas Company completed a combination to form Crescent Energy Company, a diversified U.S. energy company managed by KKR's Energy Real Assets team. Contango shareholders received 0.2000 shares of Crescent Class A common stock for each Contango share, and the combined company is positioned to pursue a consolidation strategy across Lower 48 basins.