TG Natural Resources Acquires Rockcliff Energy II from Quantum for $2.7 Billion

EQT Corporation Acquires Tug Hill and XcL Midstream from Quantum Energy Partners

August 16, 2023

Energy

EQT Corporation has completed its acquisition of Tug Hill's upstream assets (THQ Appalachia I) and XcL Midstream's gathering and processing assets (THQ‑XcL Holdings I) from Quantum Energy Partners for a mix of cash and EQT stock (transaction consideration initially announced at ~$5.2 billion; closing consideration reported as ~$2.4 billion cash plus EQT shares). The bolt‑on deal expands EQT's footprint and midstream capabilities in Southwest Appalachia, delivering production and gathering/processing capacity expected to lower EQT's cost structure and increase cash flow.

Southwestern Energy Acquires Indigo Natural Resources for ~$2.7B

September 1, 2021

Energy

Southwestern Energy Company agreed to acquire Haynesville-focused Indigo Natural Resources, LLC for approximately $2.7 billion in a transaction comprised of cash, stock and assumed debt. The acquisition adds high-margin dry gas assets and inventory in the Haynesville play, expands Southwestern's access to Gulf Coast LNG markets and accelerates free cash flow and deleveraging targets.

Tall Oak Midstream II (Tailwater-Backed) Acquires Redcliff Midstream

March 24, 2021

Energy

Tall Oak Midstream (Tall Oak II), backed by Dallas-based private equity firm Tailwater Capital, has acquired Redcliff Midstream, a gas gathering, treating and processing provider operating in Oklahoma's Northern STACK play. The acquisition expands Tall Oak II’s pipeline, compression and processing footprint in the Northern STACK Extension region; financial terms were not disclosed.

Energy Transfer Acquires WTG Midstream for $3.25 Billion

May 28, 2024

Oil & Gas

Energy Transfer LP agreed to acquire WTG Midstream Holdings LLC in a transaction valued at approximately $3.25 billion, comprising $2.45 billion in cash and ~50.8 million newly issued Energy Transfer common units. The deal, from affiliates of Stonepeak, the Davis Estate and Diamondback Energy, adds WTG's Permian-focused midstream assets — including a 6,000-mile pipeline network, eight processing plants (≈1.3 Bcf/d) and a 20% interest in the BANGL NGL pipeline — to Energy Transfer's footprint to enhance its gas/NGL supply, processing and downstream capabilities.

Acacia Research Acquires Majority Stake in Benchmark Energy II

November 14, 2023

Oil & Gas

Acacia Research Corporation (Nasdaq: ACTG) has acquired a majority interest in Benchmark Energy II, LLC, an Austin, Texas–based independent oil and gas company focused on acquisition, production and development of operated assets in Texas and Oklahoma. McArron Partners, Benchmark’s existing lead investor, retains its investment and plans to commit additional capital while Acacia intends to use its capital base to accelerate Benchmark’s acquisition and field-optimization strategy.

Blackstone Infrastructure Partners Acquires ~44% Economic Interest in Tallgrass Energy

February 5, 2019

Energy

Affiliates of Blackstone Infrastructure Partners agreed to acquire 100% of the general partner membership interests and approximately a 44% economic interest in Tallgrass Energy, LP from Kelso & Co., The Energy & Minerals Group and certain management investors for about $3.3 billion in cash. Singapore sovereign wealth fund GIC will be a minority investor in the transaction; the deal represents an ownership transition and provides capital and strategic support for Tallgrass’s midstream growth projects.