Pioneer Natural Resources Completes Acquisition of DoublePoint Energy Leasehold Interests in the Midland Basin

Langford Energy Partners Acquires Midland Basin Assets from Murchison Oil and Gas

January 13, 2025

Oil & Gas

Affiliates of Langford Energy Partners (LEP) closed the acquisition of Midland Basin assets from Murchison Oil and Gas, LLC on December 6, 2024. The assets include ~8,000 net acres across Howard, Borden and Midland counties, ~7,200 boe/d (72% oil) from 63 operated horizontal wells; the deal was funded with equity from Langford Energy Partners I, LP and senior bank debt led by Texas Capital Bank.

Enterprise Products Partners Acquires Piñon Midstream

August 21, 2024

Infrastructure

Enterprise Products Partners L.P. (through an affiliate) entered into a definitive agreement to acquire Piñon Midstream, LLC from Black Bay Energy Capital for $950 million in a debt-free cash transaction. Enterprise later announced the acquisition was completed. Piñon Midstream provides natural gas gathering and treating services in the Delaware Basin’s eastern flank in New Mexico and Texas, including sour gas treatment and CO2 permanent sequestration-related infrastructure.

Phillips 66 Acquires Pinnacle Midstream from Energy Spectrum Capital

May 20, 2024

Energy

Phillips 66 has agreed to acquire Pinnacle Midland Parent LLC (Pinnacle Midstream II) from private equity firm Energy Spectrum Capital for $550 million to expand its natural gas gathering and processing footprint in the Midland Basin. The assets include the Dos Picos 220 MMcf/d processing plant, ~80 miles of gathering pipeline and 50,000 dedicated acres; the deal is expected to close mid‑2024 subject to customary conditions, including HSR clearance.

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.

Surge Energy Acquires Grenadier Energy Partners II's Midland Basin Assets

January 31, 2021

Energy

Surge Energy US Holdings Company agreed to acquire leasehold interests and producing wells from Grenadier Energy Partners II LLC in Howard County, Texas, for an aggregate purchase price of approximately $420 million. The acquired Midland Basin assets average ~9,000 Boepd (roughly 75% oil) across ~18,010 net leasehold acres and include ~120 operated future drilling locations; the deal is expected to close in late Q1.

Pioneer Natural Resources Acquires Parsley Energy

October 19, 2020

Oil & Gas

Pioneer Natural Resources will acquire all outstanding shares of Parsley Energy in an all-stock transaction valued at approximately $4.5 billion (approximately $7.6 billion including assumed debt). The deal, which offers Parsley shareholders 0.1252 shares of Pioneer per Parsley share, is expected to deliver about $325 million of annual synergies and expand Pioneer's scale and asset base in the Permian Basin; closing is subject to customary approvals.