Whiting Petroleum and Oasis Petroleum to Merge in ~$6.0B Merger of Equals

Devon Energy to Merge with Coterra Energy in $21.4B All-Stock Deal

January 31, 2026

Oil & Gas

Devon Energy and Coterra Energy have signed a definitive all-stock agreement to merge, creating a premier Delaware Basin–anchored shale operator. The deal will exchange 0.70 shares of Devon common stock for each share of Coterra, and is expected to close in the second quarter of 2026 subject to regulatory and shareholder approvals.

American Water Works Company to Merge with Essential Utilities in $63 Billion All-Stock Deal

October 28, 2025

Infrastructure

American Water Works Company, Inc. and Essential Utilities, Inc. announced a definitive, all-stock, tax-free merger under which Essential shareholders will receive 0.305 shares of American Water for each share of Essential. The combination is intended to create the largest regulated water and wastewater utility in the United States, serving about 4.7 million water/wastewater connections across 17 states, with the deal expected to close in the first quarter of 2027 subject to regulatory approvals and other customary conditions.

Chord Energy to Combine with Enerplus in ~$11B Stock and Cash Deal

February 25, 2024

Oil & Gas

Chord Energy and Enerplus entered into a definitive arrangement agreement to combine in an approximately $11 billion stock and cash transaction. Each Enerplus share will be exchanged for 0.10125 shares of Chord stock plus $1.84 in cash, with Enerplus shareholders owning about 33% of the combined company (fully diluted) and Chord shareholders owning about 67%.

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

December 11, 2023

Oil & Gas

Occidental Petroleum entered into a purchase agreement to acquire Midland, Texas-based oil and gas producer CrownRock L.P. for approximately $12.0 billion, including the assumption of CrownRock’s debt. The deal is expected to close in the first quarter of 2024, subject to regulatory approvals and customary closing conditions.

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.

Crestwood Equity Partners Acquires Oasis Midstream Partners in ~$1.8 Billion Deal

February 1, 2022

Energy

Crestwood Equity Partners LP completed its previously announced merger with Oasis Midstream Partners LP, enhancing Crestwood’s scale in the Williston and Delaware Basins. The deal combines complementary midstream assets and is expected to deliver roughly $45 million in operational and commercial synergies.