Occidental Petroleum to Acquire CrownRock LP in a $12 Billion Deal

Occidental Agrees to Acquire Carbon Engineering for Approximately $1.1 Billion

August 15, 2023

Energy

Occidental (through a wholly owned subsidiary) has entered into a definitive agreement to acquire Carbon Engineering Ltd. for approximately $1.1 billion in cash, payable in three roughly equal annual installments. The deal — which will make Carbon Engineering a subsidiary of Oxy Low Carbon Ventures upon closing — is intended to accelerate deployment and commercialization of direct air capture (DAC) technology and expand Occidental's low-carbon capabilities.

Crestwood Completes Acquisition of Oasis Midstream

February 1, 2022

Energy

Crestwood Equity Partners LP completed its previously announced merger with Oasis Midstream Partners LP, combining the companies to expand Crestwood's scale and competitive position in the Williston and Delaware Basins. The transaction is expected to deliver roughly $45 million of operational and commercial synergies and to enhance the combined company's financial strength and flexibility.

Stonepeak Acquires Oryx Midstream for Approximately $3.6 Billion

April 2, 2019

Energy

Funds managed by Stonepeak Infrastructure Partners agreed to acquire substantially all assets of Oryx Southern Delaware Holdings LLC and Oryx Delaware Holdings LLC (collectively, Oryx) for about $3.6 billion. Sellers include affiliates of Quantum Energy Partners, Post Oak Energy Capital, Concho Resources and WPX Energy; Oryx will remain headquartered in Midland, Texas with its leadership team continuing in place and investing alongside Stonepeak.

Devon Energy Acquires RimRock Oil & Gas's Williston Basin Leasehold Interests

June 8, 2022

Oil & Gas

Devon Energy Corp. agreed to acquire the leasehold interests and related assets of RimRock Oil and Gas, LP (a Warburg Pincus portfolio company) in the Williston Basin for $865 million in cash. The bolt-on transaction, expected to close in Q3 2022 with an April 1, 2022 effective date, adds contiguous acreage, ~15,000 Boe/d (Q1) of production and operational synergies to Devon's Williston position.

APA Corporation to Acquire Callon Petroleum in an All-Stock $4.5 Billion Deal

January 4, 2024

Oil & Gas

APA Corporation entered into a definitive agreement to acquire Callon Petroleum Company in an all-stock transaction valued at approximately $4.5 billion, inclusive of Callon’s net debt. The deal is expected to be accretive to key financial metrics and expand APA’s Permian Basin footprint by combining Callon’s Delaware-focused assets with APA’s Midland assets.

Canadian Overseas Petroleum Acquires Atomic Oil & Gas for $54M

December 1, 2020

Oil & Gas

Canadian Overseas Petroleum Limited (COPL) agreed to acquire Atomic Oil & Gas LLC for US$54 million in a mix of assumed debt, cash and COPL shares, with an effective date of December 1, 2020 and expected completion by January 31, 2021. The acquisition adds operated onshore oil assets in the Powder River Basin (Wyoming) — including two oil production units, associated midstream assets and ~31.1mm BOE (2P) reserves — materially expanding COPL's production, reserves and U.S. footprint.