Pioneer Natural Resources Acquires Parsley Energy

Parsley Energy Acquires Jagged Peak Energy

January 10, 2020

Oil & Gas

Parsley Energy, Inc. completed its acquisition of Jagged Peak Energy Inc., exchanging Parsley Class A common stock for Jagged Peak shares and causing Jagged Peak to delist from the NYSE. The deal is intended to combine complementary Permian Basin assets to capture operational synergies and improve capital efficiency for the combined company.

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.

Pioneer Natural Resources Acquires DoublePoint Energy Assets in Midland Basin

May 4, 2021

Oil & Gas

Pioneer Natural Resources completed the acquisition of the leasehold interests and related assets of DoublePoint Energy (structured as the purchase of Double Eagle III Midco 1 LLC) in the Midland Basin for approximately $6.2–$6.4 billion in stock, cash and assumed debt. The transaction adds ~97,000 contiguous net acres to Pioneer's Midland Basin footprint and was approved by the boards of the companies; DoublePoint was backed by equity commitments from Apollo, Quantum Energy Partners, Magnetar Capital and Blackstone Credit.

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.

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.

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.