Kraken Resources Acquires Zavanna Energy Operating, LLC
May 11, 2026
Kraken Resources LLC acquired the membership interests of Zavanna Energy Operating, LLC on March 31, 2026. The acquisition includes approximately 35,000 net leasehold acres in North Dakota (Williams and McKenzie counties) and producing assets such as 175 operated wells, funded with borrowings under Kraken’s revolving credit facility, a $200 million equity contribution from affiliates of Kayne Anderson, and proceeds from a $400 million senior notes offering.
- Buyers
- Kraken Resources LLC, Kraken Oil & Gas Partners LLC
- Targets
- Zavanna Energy Operating, LLC
- Industry
- Oil & Gas
- Location
- North Dakota, United States
- Transaction Type
- Buyout
Explore More
Related Acquisitions
-
Hawkins Capital USA LLC Acquires Knock Out Energy LLC
March 21, 2026
Industrial Services
Hawkins Capital USA LLC, part of the Hawkins Lease Service Inc. family of businesses, announced the closing of its acquisition of Knock Out Energy LLC, an integrated oil and gas services provider. The deal expands Hawkins’ footprint in the Permian Basin and Barnett Shale and broadens its service capabilities across oil and gas and midstream sectors.
-
Diversified Energy Acquires Maverick Natural Resources
March 14, 2025
Energy
Diversified Energy Company PLC has completed its acquisition of Maverick Natural Resources. The transaction was partly satisfied by the issuance of 21,194,213 new ordinary shares and will see Maverick CEO Rick Gideon become Diversified's Chief Operating Officer effective March 18, 2025.
-
Carnelian Energy Capital Makes Equity Investment in Zavanna
September 24, 2024
Oil & Gas
Denver-based independent E&P company Zavanna received an equity investment from investment funds managed by Carnelian Energy Capital to recapitalize the business and fund development of its Williston Basin asset base. Management and founder Bill Coleman retain a significant ownership stake alongside Carnelian; the new capital will also support accretive bolt-on acquisitions and trades.
-
Vår Energi Acquires Neptune Energy Norge AS
January 31, 2024
Oil & Gas
Vår Energi ASA completed the acquisition of 100% of the shares in Neptune Energy Norge AS, strengthening its position on the Norwegian Continental Shelf and adding ~67 kboepd of production and ~265 mmboe of 2P reserves. The transaction was agreed at an enterprise value of USD 2.275 billion and closed on 31 January 2024 (effective date 1 January 2023); net cash consideration paid on completion (less cash in Neptune Norway) was approximately USD 1.2 billion. The deal increases Vår Energi's scale, operatorships and gas/LNG exposure and is inter-conditional with a separate transaction in which Eni acquires the remainder of Neptune's global assets.
-
The Prax Group Acquires Hurricane Energy Plc
June 19, 2023
Energy
The Prax Group has completed the acquisition of UK oil and gas explorer Hurricane Energy Plc, gaining full control of the Lancaster offshore oil field in the West of Shetland basin. The deal expands Prax's capabilities upstream as it moves to integrate Hurricane's exploration and production assets into its downstream and midstream operations.
-
NEO Energy Acquires Zennor Petroleum
January 1, 2021
Energy
NEO Energy, backed by private equity firm HitecVision, has acquired independent oil and gas company Zennor Petroleum Limited in a transaction valued at up to USD 625 million (including deferred and contingent consideration). The deal increases NEO’s operated UK Continental Shelf portfolio and production profile, adds ~40 mmboe of reserves and >90 mmboe of un‑risked resource, and brings the Zennor team into NEO (raising combined headcount to over 180).
Build a buyer list for your deal
Find active buyers from recent acquisition patterns and move straight into outreach.