Devon Energy to Merge with Coterra Energy in $21.4B All-Stock Deal

Chesapeake Energy to Merge With Southwestern Energy in $7.4B Deal (Expand Energy)

September 26, 2024

Energy

Chesapeake Energy Corporation and Southwestern Energy Company have agreed to merge in an all-stock transaction valued at about $7.4 billion. The combined company will be rebranded as Expand Energy, headquartered in Oklahoma City, and is expected to close in the first week of October (following HSR expiration) per Source 1.

Permian Resources Acquires Earthstone Energy in $4.5 Billion All-Stock Deal

August 21, 2023

Energy

Permian Resources and Earthstone Energy entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt. The deal is expected to enhance Permian Resources’ Delaware Basin position with significant acreage and pro forma production scale, and to deliver meaningful accretion and ~$175 million in annual cash flow improvements from synergies.

ExxonMobil Acquires Denbury Inc.

November 2, 2023

Energy

Exxon Mobil Corporation completed its all‑stock acquisition of Denbury Inc. in a transaction valued at $4.9 billion, with Denbury shareholders receiving 0.84 shares of ExxonMobil per Denbury share. The deal adds Denbury's ~1,300 miles of CO2 pipelines, onshore sequestration sites and Gulf Coast/Rockies oil and gas operations (over 200 million boe of proved reserves and roughly 46,000–47,000 boe/d of production), strengthening ExxonMobil's Low Carbon Solutions and CCS capabilities.

ExxonMobil Merges With Pioneer Natural Resources in a $59.5 Billion Deal

October 12, 2023

Oil & Gas

ExxonMobil and Pioneer Natural Resources announced a merger valued at $59.5 billion. The combination brings together Pioneer’s contiguous Midland Basin acreage with ExxonMobil’s Delaware and Midland Basin portfolio to strengthen U.S. unconventional scale and increase Permian production potential.

Chord Energy to Combine with Enerplus in ~$11B Stock and Cash Deal

February 25, 2024

Oil & Gas

Chord Energy and Enerplus entered into a definitive arrangement agreement to combine in an approximately $11 billion stock and cash transaction. Each Enerplus share will be exchanged for 0.10125 shares of Chord stock plus $1.84 in cash, with Enerplus shareholders owning about 33% of the combined company (fully diluted) and Chord shareholders owning about 67%.

Devon Energy Acquires Validus Energy for $1.8 Billion

June 1, 2022

Oil & Gas

Devon Energy Corp. agreed to acquire Eagle Ford operator Validus Energy for $1.8 billion in cash, in a transaction expected to close at the end of Q3 2022 with an effective date of June 1, 2022. The acquisition adds ~42,000 net acres and ~35,000 boe/d of production (projected to average ~40,000 boe/d), deepening Devon's Eagle Ford footprint and driving scale, operational synergies and improved cash returns to shareholders.