ExxonMobil Acquires Denbury Inc.

ConocoPhillips Acquires Marathon Oil Corporation

May 29, 2024

Energy

ConocoPhillips has acquired Marathon Oil Corporation in an all-stock transaction (0.2550 COP shares per Marathon share) with an enterprise value of $22.5 billion (including $5.4 billion of net debt). The deal, approved by Marathon shareholders and completed in November 2024, expands ConocoPhillips' U.S. Lower 48 portfolio, is immediately accretive, and is expected to deliver significant cost and capital synergies.

ConocoPhillips to Acquire Concho Resources

October 19, 2020

Oil & Gas

ConocoPhillips agreed to acquire Concho Resources in an all-stock transaction valued at $9.7 billion, exchanging each Concho share for 1.46 shares of ConocoPhillips. The combination creates a larger independent oil and gas company with expanded Permian Basin scale, expected cost and capital synergies of $500 million annually and an enhanced low-cost resource base.

Noble Corporation plc Acquires Diamond Offshore Drilling, Inc.

June 10, 2024

Energy

Noble Corporation plc completed the acquisition of Diamond Offshore Drilling, Inc. in a stock-plus-cash merger, with Diamond shareholders receiving 0.2316 shares of Noble and $5.65 cash per share and becoming approximately 14.5% owners of Noble. The deal expands Noble's fleet with additional 7th-generation drillships and semisubmersibles, adds roughly $2.0 billion of backlog, and is expected to generate meaningful cost synergies and accretion to free cash flow.

Vår Energi Acquires ExxonMobil's Upstream Assets in Norway

December 10, 2019

Energy

Vår Energi has completed the acquisition of ExxonMobil's Norway upstream assets for a cash consideration of roughly USD 4.5 billion, a deal that effectively doubled the company's production on the Norwegian Continental Shelf. The portfolio adds interests in more than 20 producing fields (about 150,000 boepd additional), increases reserves to ~1,900 million boe and transfers some ~33–50 ExxonMobil employees to Vår Energi, reinforcing the company's position as the second-largest operator on the NCS.

Chevron Acquires PDC Energy

August 7, 2023

Energy

Chevron Corporation completed its acquisition of PDC Energy, Inc. in an all‑stock transaction valued at $6.3 billion (approximately $7.6 billion enterprise value), adding significant oil and gas assets in the Denver‑Julesburg (DJ) Basin and the Permian Basin. The deal, approved by PDC shareholders and closed in August 2023, is expected to be accretive to Chevron's earnings, increase proved reserves and deliver operational synergies.

Chevron Acquires Hess Corporation

October 23, 2023

Energy

Chevron Corporation completed its acquisition of Hess Corporation in an all-stock transaction valued at approximately $53 billion (roughly $60 billion enterprise value). The deal gives Chevron a 30% stake in the Guyana Stabroek Block and adds substantial Bakken, Gulf of Mexico and Southeast Asia production, and was closed after a favorable arbitration outcome and regulatory approvals. Hess shareholders received 1.0250 shares of Chevron per Hess share as part of the transaction.