Recent Oil & Gas Acquisitions
Acquisition Volume in Oil & Gas by Year
Last 5 years
North American Oil & Gas Deals highlights recent transactions across upstream producers, oilfield services, equipment manufacturers and distributors in the United States and Canada. The page reflects activity ranging from basin-scale asset purchases to service‑sector tuck‑ins and strategic joint ventures.
Buyers include public and private exploration & production firms, private equity sponsors, and specialty service and distribution companies. Notable examples are Peoria Resources, LLC acquiring an operated DJ Basin portfolio, Cactus, Inc. taking a 65% interest in Baker Hughes’ SPC business, and RelaDyne expanding its regional distribution footprint in Missouri and California.
What Stands Out
- Buyer mix: public and private E&Ps, private equity sponsors, oilfield service providers and distributors — e.g., Peoria Resources, LLC, Lime Rock Partners, Cactus, Inc., RelaDyne.
- Capability and vertical integration focus: acquisitions add in‑house well servicing, compression and manufacturing capacity or blending/distribution capabilities (Borco’s Permian well service purchase; Encore’s compression/manufacturing expansion; Allegheny adding blending at Maryville).
- Geographic concentration: transactions cluster in Texas (Permian, Eagle Ford), the DJ Basin, and Canadian provinces such as Alberta, with additional retail/distribution deals in California, Missouri, Tennessee and Pennsylvania.
- Deal structures vary: asset portfolio and working‑interest purchases, majority‑stakes and joint ventures (65% SPC JV), all‑stock combinations, equity commitments, and take‑private transactions.
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March 12, 2026
- Target
- BlueNord ASA
- Seller
- Kite Lake Capital Management (UK) LLP, Dolomite Capital Advisors LLP (formerly known as Taconic Capital Advisors UK LLP)
- Industry
- Oil & Gas
- Location
- Norway
- Type
- Divestiture
Kite Lake Capital Management (UK) LLP and Dolomite Capital Advisors LLP sold a combined 2,123,387 shares of BlueNord ASA, representing 8.3% of the company’s share capital, at NOK 554 per share. The transaction size was NOK 1,176 million, with Kite Lake selling 287,298 shares and Dolomite selling 1,836,089 shares.
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- Buyer
- Flowco Holdings Inc.
- Target
- Valiant Artificial Lift Solutions LLC
- Industry
- Oil & Gas
- Location
- Oklahoma, United States
- Type
- Buyout
Flowco Holdings (NYSE: FLOC) completed its previously announced acquisition of Valiant Artificial Lift Solutions, adding electric submersible pump (ESP) capabilities to its production optimization portfolio. The total consideration was approximately $200 million, funded with about $170 million in net cash and roughly 1.5 million shares of Flowco Class A common stock.
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February 26, 2026
- Buyer
- Peoria Resources, LLC, JAPEX (U.S.) Corp.
- Target
- Verdad Resources Holdings LLC (operated oil and gas portfolio)
- Seller
- Verdad Resources Holdings LLC
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Divestiture
Peoria Resources, LLC (a subsidiary of JAPEX (U.S.) Corp.) has acquired Verdad Resources' entire operated oil and gas business in the Denver‑Julesburg (DJ) Basin for an enterprise value of approximately $1.26 billion. The transaction transfers roughly 101,000 net acres of horizontal Niobrara and Codell development (Colorado and Wyoming) to Peoria as it establishes a scaled operated position in the DJ Basin.
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February 19, 2026
- Buyer
- Borco U.S.A.
- Target
- Permian-based well service company (unnamed)
- Industry
- Oil & Gas
- Location
- United States
- Type
- Buyout
Borco U.S.A. acquired a Permian-based well service company that operates three active well service rigs, bringing well servicing, workover, and maintenance capabilities in-house. The acquisition strengthens Borco's vertical integration in the Permian Basin, improving operational flexibility, lowering lifting costs, and supporting its recently acquired 220-well package.
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February 19, 2026
- Buyer
- Logan Energy Corp.
- Target
- Acquired Assets (Montney assets predominantly in Simonette, Alberta)
- Seller
- A subsidiary of a publicly-traded oil and gas company (the Vendor)
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Buyout
Logan Energy Corp. has entered into a definitive purchase agreement to acquire an entire interest in certain Montney assets predominantly in Simonette, Alberta from a subsidiary of a publicly-traded oil and gas company (the Vendor) for $62.5 million (subject to closing adjustments). The acquisition is expected to close on or around March 10, 2026, and Logan is also arranging $50.0 million in bought-deal equity financings plus an expansion of its revolving credit facilities to support the transaction.
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February 7, 2026
- Buyer
- RelaDyne
- Target
- Dion and Sons
- Industry
- Oil & Gas
- Location
- California, United States
- Type
- Addon
RelaDyne has acquired Dion and Sons, a Southern California petroleum distributor and provider of industrial reliability services with seven facilities across the region. The deal expands RelaDyne's West Coast footprint and strengthens its product and service offerings in fuel, lubricants, DEF, and reliability services.
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February 4, 2026
- Buyer
- Reliable Energy Partners, Soundcore Capital Partners, LP
- Target
- Irvington Gas, LLC
- Seller
- Kasey family
- Industry
- Oil & Gas
- Location
- Kentucky, United States
- Type
- Addon
Reliable Energy Partners, a growth platform backed by Soundcore Capital Partners, has acquired Irvington Gas, LLC. The acquisition expands Reliable’s operational footprint to six states and strengthens its multi-regional propane distribution platform in markets around the Louisville, Kentucky Metro area.
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January 31, 2026
- Buyer
- Devon Energy
- Target
- Coterra Energy
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
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.
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January 30, 2026
- Buyer
- SM Energy Company
- Target
- Civitas Resources, Inc.
- Industry
- Oil & Gas
- Location
- Colorado, United States
- Type
- Buyout
SM Energy has completed its all-stock merger with Civitas Resources following stockholder approvals. The combined company retains the SM Energy name and ticker symbol “SM” and is led by Beth McDonald as president and chief executive officer.
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January 30, 2026
- Buyer
- Superior Energy Services, Inc.
- Target
- Abaco Energy Technologies
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Superior Energy Services has announced the successful closing of its previously announced acquisition of Abaco Energy Technologies. The deal expands Superior’s Wellbore Technologies segment by adding Abaco’s bottom-hole assembly capabilities and elastomer technologies for downhole drilling, completion, and remediation.
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January 29, 2026
- Buyer
- RelaDyne
- Target
- Dennis Oil Company
- Seller
- Dennis family / Jeff Dennis
- Industry
- Oil & Gas
- Location
- Missouri, United States
- Type
- Addon
RelaDyne has acquired Dennis Oil Company, a family-owned blender and distributor of commercial and industrial lubricants headquartered in Springfield, Missouri. The deal expands RelaDyne's Midwest footprint and adds density and product/blending capabilities across Missouri, Kansas, Oklahoma, and Arkansas.
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January 21, 2026
- Buyer
- Allegheny Petroleum Products
- Target
- McNutt Oil Company
- Industry
- Oil & Gas
- Location
- Tennessee, United States
- Type
- Buyout
Allegheny Petroleum Products has acquired McNutt Oil Company of Maryville, Tennessee in a private transaction. Allegheny will retain McNutt’s employees and facilities and plans to add local manufacturing and blending capabilities at the Maryville site in 2026 to expand its national manufacturing footprint.
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January 15, 2026
- Buyer
- Lime Rock Partners
- Target
- Athena Energy Partners
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Growth capital
Lime Rock Partners has closed an equity commitment to Athena Energy Partners, a Houston-based upstream oil and gas company led by former Ensign Natural Resources executives. The capital will support Athena’s acquisition, optimization and development of oil and gas properties with an initial focus on South Texas’ Eagle Ford Shale.
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January 14, 2026
- Buyer
- Canadian Natural Resources Ltd.
- Target
- Tourmaline Oil Corp
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Buyout
Canadian Natural Resources Ltd. has acquired Tourmaline Oil Corp for approximately $800 million, consolidating a major natural gas producer into its portfolio. The deal brings Tourmaline’s Calgary-headquartered natural gas assets and production into Canadian Natural’s operations to expand scale, capabilities and market access across North America and international markets.
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January 6, 2026
- Buyer
- Encore Oilfield Services, LLC
- Target
- Custom Compression Systems, LLC
- Seller
- Louisiana Machinery Company, L.L.C. (Louisiana Cat)
- Industry
- Oil & Gas
- Location
- Louisiana, United States
- Type
- Buyout
Encore Oilfield Services, LLC has acquired Custom Compression Systems, LLC (formerly Williamson Production Systems), a New Iberia, Louisiana-based manufacturer of gas compression systems. The deal adds 103,000 square feet of manufacturing space, heavy lifting capacity (two 80-ton cranes and 70-foot eave heights) and access to 225,000 horsepower of Caterpillar natural gas engines through a partnership with Louisiana Cat, expanding Encore's compression packaging and manufacturing capabilities.
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January 1, 2026
- Buyer
- Infinity Natural Resources, Inc.
- Target
- Chase Oil Corporation
- Seller
- Chase Oil Corporation
- Industry
- Oil & Gas
- Location
- Pennsylvania, United States
- Type
- Addon
Infinity Natural Resources (NYSE: INR) acquired Chase Oil Corporation's working interest in the South Bend field in Pennsylvania in an all-stock transaction valued at approximately $36 million, effective January 1, 2026. The deal adds roughly 18 producing wells (~14 MMcf/d net) and strategic Marcellus/Utica acreage, providing immediate production uplift and near-term development opportunities.
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- Buyer
- Gladstone Investment Corporation, Xyresic Capital
- Target
- Rowan Energy, Inc.
- Industry
- Oil & Gas
- Location
- Oklahoma, United States
- Type
- Buyout
Gladstone Investment Corporation, alongside independent sponsor Xyresic Capital, has acquired Rowan Energy, Inc., a U.S. oil-and-gas services company based in Oklahoma City. Gladstone provided senior secured debt and the majority of the equity to complete the transaction; the investment is intended to support Rowan's growth and value-creation initiatives in frac sand filtration, completion-equipment deployment, and field-operations support.
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December 11, 2025
- Buyer
- Tailwater Capital
- Target
- Central Midstream Partners, LLC
- Seller
- Jordan family
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Tailwater Capital has acquired a majority interest in Central Midstream Partners, LLC, a Houston-based liquids transportation, storage and terminal services provider with assets across the Gulf Coast and Ohio/Utica region. Tailwater will invest additional equity from Tailwater Fund V to support growth projects while Central Midstream CEO George Jordan and the Jordan family remain involved post-transaction.
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December 11, 2025
- Buyer
- Public market investors
- Target
- Kodiak Gas Services
- Seller
- EQT Infrastructure III, EQT Infrastructure IV, EQT
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Divestiture
EQT Infrastructure III and IV have fully exited their investment in Kodiak Gas Services (NYSE: KGS), following Kodiak's 2023 IPO and a 30-month series of sell-downs. Kodiak, headquartered in Houston, Texas, is a leading provider of natural gas contract compression services in North America; under EQT's ownership the business grew revenue and EBITDA more than 8x and expanded headcount to just over 1,300 employees.
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December 9, 2025
- Buyer
- HF Sinclair
- Target
- Industrial Oils Unlimited
- Industry
- Oil & Gas
- Location
- Oklahoma, United States
- Type
- Buyout
HF Sinclair, through its Lubricants and Specialties subsidiary, entered into a definitive agreement to acquire Tulsa-based Industrial Oils Unlimited in a $38 million transaction. The deal is expected to close in the first quarter of 2026, subject to customary closing conditions.
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November 12, 2025
- Buyer
- Waterous Energy Fund Management Corp. (on behalf of Waterous Energy Fund III LPs)
- Target
- Greenfire Resources Ltd.
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Buyout
Waterous Energy Fund Management Corp., acting for Waterous Energy Fund (WEF), purchased 8,703,479 common shares of Greenfire Resources Ltd. for C$6.55 per share (C$57.0 million), increasing its ownership to approximately 68.3% of Greenfire on an undiluted basis. The private transactions gave WEF majority control of the Calgary-based oil and gas producer; WEF said it will continue to review its investment and may take further actions with respect to Greenfire's securities.
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November 10, 2025
- Buyer
- Ranger Energy Services, Inc.
- Target
- American Well Services
- Seller
- Argonaut Private Equity
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Ranger Energy Services (NYSE: RNGR) has acquired American Well Services (AWS), a Permian Basin-focused well services provider, from Argonaut Private Equity for approximately $90.5 million in a cash, stock and earn‑out deal. The acquisition increases Ranger’s rig count by roughly 25%, expands its service lines and is expected to be immediately accretive with identified synergies of $4 million.
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November 4, 2025
- Buyer
- PEDEVCO Corp., Juniper Capital Advisors, L.P.
- Target
- Portfolio companies controlled by Juniper Capital Advisors (unnamed)
- Seller
- Juniper Capital Advisors, L.P.
- Industry
- Oil & Gas
- Location
- United States
- Type
- Buyout
PEDEVCO Corp. completed a merger with portfolio companies controlled by Juniper Capital Advisors, issuing convertible preferred shares to Juniper that, upon conversion, will give Juniper ~53% ownership of the combined company. The transaction included a $35 million private placement, refinancing of the portfolio companies' debt, and increases PEDEVCO's borrowing base to support a combined asset base of ~6,500 BOEPD (80% oil) and ~328,000 net acres across the Northern DJ and Powder River Basins.
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October 27, 2025
- Buyer
- Cenovus Energy Inc., Strathcona Resources Ltd.
- Target
- MEG Energy Corp., Vawn thermal project and certain undeveloped thermal lands at Lindbergh, Plover Lake and Glenbogie
- Seller
- MEG Energy Corp. shareholders, Cenovus Energy Inc. (for the Vawn thermal project and undeveloped thermal lands)
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Buyout
Cenovus Energy entered into a definitive arrangement agreement to acquire MEG Energy in a $7.9 billion deal (inclusive of assumed debt), to be paid 75% in cash and 25% in Cenovus common shares, with the transaction expected to close in the fourth quarter of 2025 subject to approvals. Strathcona Resources simultaneously signed a voting support agreement to vote its MEG shares in favor of the Cenovus–MEG transaction, and announced it will purchase Cenovus’s Vawn thermal project and certain undeveloped thermal lands for initial consideration of $75.0 million plus up to $75.0 million in contingent consideration.
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October 16, 2025
- Buyer
- GeoPark Limited
- Target
- Loma Jarillosa Este Block, Puesto Silva Oeste Block
- Seller
- Pluspetrol S.A.
- Industry
- Oil & Gas
- Location
- Neuquén Province, Argentina
- Type
- Divestiture
GeoPark Limited completed the acquisition of a 100% operated working interest in the Loma Jarillosa Este and Puesto Silva Oeste blocks in the Vaca Muerta formation from Pluspetrol S.A., with total consideration of $115 million. The Government of Neuquén Province issued decrees formalizing the transfer and GeoPark has transferred a 5% working interest in Puesto Silva Oeste to Gas y Petróleo del Neuquén S.A. (GyP) as a strategic partner; GeoPark will be the operator.
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- Buyer
- Terramont Infrastructure Partners
- Target
- Bull Moose Capital Ltd
- Seller
- TriWest Capital Partners
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Buyout
Terramont Infrastructure Partners has acquired a majority interest in Bull Moose Capital Ltd., Canada’s largest provider of natural gas compression and power generation solutions. The seller was TriWest Capital Partners, and Terramont said the investment will support Bull Moose’s geographic expansion and increased focus on larger energy infrastructure projects.
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September 30, 2025
- Buyer
- RelaDyne
- Target
- Domestic Fuels & Lubes
- Industry
- Oil & Gas
- Location
- Virginia, United States
- Type
- Addon
RelaDyne has acquired Domestic Fuels & Lubes, a regional distributor of commercial fuels, lubricants and diesel exhaust fluid (DEF) headquartered in Chesapeake, Virginia. The deal expands RelaDyne’s regional density in the Mid-Atlantic and Southeast U.S., adding three locations across southeastern Virginia and northeastern North Carolina to its national distribution platform.
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September 30, 2025
- Buyer
- Core Laboratories
- Target
- Solintec
- Industry
- Oil & Gas
- Location
- Rio de Janeiro, Brazil
- Type
- Buyout
Core Laboratories (NYSE: CLB) has acquired Solintec, a Rio de Janeiro–based integrated geological services and laboratory company that serves Brazil's upstream oil and gas industry. The acquisition strengthens Core Lab's local presence in Brazil and expands its in-country reservoir laboratory and formation-evaluation capabilities for offshore pre-salt and onshore projects.
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September 11, 2025
- Buyer
- Pelican Acquisition Corporation, Pelican Holdco, Inc. (to be renamed Greenland Energy Company)
- Target
- Greenland Exploration Limited, March GL Company, 80 Mile PLC (retains 30% of Jameson project licenses)
- Industry
- Oil & Gas
- Location
- Greenland
- Type
- Buyout
Pelican Acquisition Corporation (a special purpose acquisition company) announced a definitive merger agreement with Greenland Exploration Limited (GEL) and March GL Company. The combined transaction is expected to result in the creation of Greenland Energy Company, which will pursue March GL’s earn-in for up to 70% of 80 Mile’s Jameson liquid hydrocarbon project in Greenland, with 80 Mile retaining its remaining 30% interest. The transaction is expected to close in the fourth quarter of 2025.
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September 4, 2025
- Buyer
- Strathcona Resources Ltd.
- Target
- MEG Energy Corp.
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Buyout
Strathcona Resources Ltd. purchased 6,035,600 common shares of MEG Energy Corp. for approximately $172.7 million, increasing its stake to roughly 14.2% of MEG's outstanding shares. The purchase is part of Strathcona's ongoing offer to acquire MEG and Strathcona intends to vote its shares against the proposed acquisition of MEG by Cenovus Energy Inc.
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August 15, 2025
- Buyer
- SNF
- Target
- Obsidian Chemical Solutions LLC
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
SNF, the global specialty chemical group, has acquired Obsidian Chemical Solutions LLC, a Midland, Texas-based provider of specialty chemical solutions and bulk storage for completion operations in the Permian Basin. The acquisition gives SNF an expanded manufacturing footprint and storage capacity in the Permian to accelerate service delivery and broaden its portfolio of customized formulations for stimulation, acidizing, cementing, drill-out and produced water treatment.
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July 25, 2025
- Buyer
- Thermotane Propane
- Target
- Matchett Propane
- Industry
- Oil & Gas
- Location
- Florida, United States
- Type
- Buyout
Thermotane Propane, a family-owned Florida propane company founded in 1947, has acquired Matchett Propane of Interlachen, Florida in a privately negotiated owner-to-owner transaction. The deal expands Thermotane's footprint to three locations and broadens its service area across the Gainesville, Ocala and St. Augustine markets as part of its multi-location growth plan.
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- Buyer
- The Borgman Company (TBC)
- Target
- Undisclosed oil company with producing assets and service infrastructure in West Texas
- Industry
- Oil & Gas
- Location
- United States
- Type
- Buyout
The Borgman Company (TBC) has agreed to acquire an undisclosed oil company’s producing assets and related service infrastructure in West Texas for $31.1 million. The deal is intended to materially expand TBC’s footprint and resource base in the Permian Basin and support continued growth in the region.
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July 14, 2025
- Buyer
- Unnamed individual buyer
- Target
- Bugle Energy Services
- Seller
- Owners of Bugle Energy Services
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
ACT Capital Advisors represented Bugle Energy Services, a Midland, Texas–based oilfield services provider, in its sale to an unnamed individual buyer. Bugle, which specializes in secondary containment, pit lining, temporary/drive-over containment and concrete restoration coatings, will continue operations under new private ownership.
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- Buyer
- Sitio Royalties Corp., Viper Energy, Inc.
- Target
- Viper Energy, Inc.
- Industry
- Oil & Gas
- Location
- Colorado, United States
- Type
- Buyout
Sitio Royalties Corp. said it will report its second-quarter 2025 results on Aug. 6, 2025 (later revised to Aug. 4, 2025). The company will not host a conference call because it has a pending merger with Viper Energy, Inc.
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- Buyer
- Strathcona Resources Ltd.
- Target
- MEG Energy Corp.
- Industry
- Oil & Gas
- Location
- Canada
- Type
- Buyout
Strathcona Resources Ltd. has formally commenced a take-over bid to acquire all outstanding common shares of MEG Energy Corp. not already owned by Strathcona for 0.62 Strathcona shares plus C$4.10 cash per MEG share. The offer is subject to customary conditions and includes a planned second-stage path to make MEG a wholly owned subsidiary or affiliate after the bid period.
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- Buyer
- Innovex International, Inc.
- Target
- Citadel Casing Solutions, LLC
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Innovex International, Inc. completed an all-cash acquisition of Citadel Casing Solutions, LLC, adding Citadel's differentiated downhole and casing technologies to Innovex's energy industrial platform. The transaction values Citadel at approximately 3.8x LTM Adjusted EBITDA, is ~8% accretive to Innovex EPS, and is expected to deliver roughly $2 million of cost synergies within three months while supporting market share expansion in offshore and international markets.
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- Buyer
- Gladstone Investment Corporation, Xyresic Capital
- Target
- Smart Chemical Solutions, LLC
- Seller
- Palo Duro Capital
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Gladstone Investment Corporation (Nasdaq: GAIN), alongside co-investor Xyresic Capital, has acquired Smart Chemical Solutions, LLC, a Midland, Texas–based provider of production chemicals to onshore oil and gas operators. Gladstone provided equity and senior secured debt to complete the transaction; Palo Duro Capital was the seller according to advisor announcements.
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May 15, 2025
- Buyer
- One X - A Completions Partner, Kingswood Capital Management, LP
- Target
- United Energy Partners
- Industry
- Oil & Gas
- Location
- Colorado, United States
- Type
- Addon
One X, a Kingswood Capital Management portfolio company, has acquired United Energy Partners, a Greeley, Colorado-based provider of pressure control services and equipment rentals that specializes in serviceless (greaseless) valve technology. The add-on expands One X's geographic footprint and fleet of serviceless pressure control valves across major U.S. shale basins (Permian, DJ, Eagle Ford, Bakken and Haynesville) and bolsters its completions services capabilities.
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May 6, 2025
- Buyer
- Dead River Co.
- Target
- Consumers Fuel Co.
- Seller
- John Holmes
- Industry
- Oil & Gas
- Location
- Maine, United States
- Type
- Buyout
Dead River Co., headquartered in South Portland, Maine, has acquired the oil and propane fuel distribution and service business of Consumers Fuel Co. of Belfast, Maine; the transaction closed on May 6, 2025. Consumers Fuel, a family-owned business founded in 1911 and owned by John Holmes, was advised by Tounge Associates during the sale and will transition operations, customers and employees to Dead River.
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- Buyer
- Scout Surface Solutions LLC
- Target
- Kinetic Pressure Control Ltd.
- Seller
- SCF Partners (SCF Ventures)
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Scout Surface Solutions LLC has acquired Kinetic Pressure Control Ltd. from SCF Partners (SCF Ventures). The deal brings Kinetic’s patented pressure and flow control technologies (including the K-BOS shear and seal device) into Scout’s completions and surface solutions platform to expand technical capabilities and global reach.
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- Buyer
- Kayne Private Energy Income Fund III (managed by Kayne Anderson Capital Advisors), Members of South Wind management team
- Target
- South Wind Exploration & Production, LLC
- Industry
- Oil & Gas
- Location
- Oklahoma, United States
- Type
- Growth capital
South Wind Exploration & Production, a newly formed Oklahoma City-based oil and gas E&P, received over $400 million of equity commitments from Kayne Private Energy Income Fund III (managed by Kayne Anderson Capital Advisors) and members of South Wind’s management team. The capital will be used to acquire and operate large, producing onshore U.S. oil and gas assets under a leadership team of industry veterans including Co-CEOs Tyler Bolton and Greg Boxer.
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April 29, 2025
- Buyer
- Petro-Victory Energy Corp., BlueOak Investments
- Target
- Capixaba Energia LTDA
- Industry
- Oil & Gas
- Location
- Espírito Santo, Brazil
- Type
- Buyout
Petro-Victory Energy Corp. (with BlueOak Investments as its strategic financial partner) has completed its previously announced acquisition of Capixaba Energia LTDA, a producing onshore oil and gas asset in Brazil’s Espírito Santo Basin. The deal strengthens Petro-Victory’s Brazil onshore position with immediate cash-flowing production (~400 boe/d) and expansion plans supported by BlueOak funding.
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April 28, 2025
- Buyer
- EnCap Investments, Westlawn Group, Rice Investment Group, X2 Resources management team
- Target
- X2 Resources
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Growth capital
X2 Resources announced an equity capital commitment from EnCap Investments, Westlawn Group, Rice Investment Group and its management team to back a new Houston-based upstream platform. The sponsor-backed vehicle will target $500 million to multibillion-dollar acquisition opportunities across premier oil and gas basins to develop large-scale oil and gas projects.
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April 16, 2025
- Buyer
- Undisclosed Buyer
- Target
- Pecos Propane, Inc.
- Seller
- Pacheco family / Pecos Propane shareholders
- Industry
- Oil & Gas
- Location
- New Mexico, United States
- Type
- Buyout
Generational Group advised Pecos Propane, Inc., a family-owned propane distributor based in Pecos, New Mexico, on its sale to an undisclosed buyer; the transaction closed April 16, 2025. Pecos Propane serves residential and commercial customers across Northern New Mexico and was backed by the Pacheco family prior to the sale.
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April 1, 2025
- Buyer
- Phillips 66
- Target
- EPIC Y-Grade GP, LLC, EPIC Y-Grade, LP, EPIC NGL
- Seller
- EPIC Y-Grade GP, LLC, EPIC Y-Grade, LP
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Phillips 66 completed the acquisition of EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP (collectively "EPIC NGL") for approximately $2.2 billion in cash. The deal adds an NGL pipeline (~885 miles), two fractionators near Corpus Christi and purity distribution pipelines, expanding Phillips 66's Permian-to-Gulf Coast midstream footprint and connectivity to refiners, petrochemical customers and export markets.
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- Buyer
- Main Street Capital Corporation
- Target
- Moffitt Holdings, LLC (dba Moffitt Services)
- Seller
- Moffitt's founders and management team
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Recapitalization
Main Street Capital Corporation committed $49.3 million to facilitate a minority recapitalization of Moffitt Holdings, LLC (dba Moffitt Services), a Cypress, Texas-based bulk fuel and lubricant distributor. The financing package includes first-lien senior secured term debt and a direct equity investment provided in partnership with Moffitt's founders and management to provide liquidity and support the company's growth and operations.
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February 28, 2025
- Buyer
- Nwestco, LLC, Guardian Capital Partners
- Target
- Gettler-Ryan Inc.
- Industry
- Oil & Gas
- Location
- California, United States
- Type
- Addon
Nwestco, a Guardian Capital Partners portfolio company, has acquired Gettler-Ryan Inc., a turnkey provider of petroleum services based in Dublin and Sacramento, California. The add-on expands Nwestco's capabilities and footprint in Northern California, enabling combined resources to deliver enhanced fuel and car wash equipment maintenance, compliance, and installation services to retail and industrial customers.
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February 26, 2025
- Buyer
- Vermilion Energy Inc.
- Target
- Westbrick Energy Ltd.
- Seller
- Shareholders of Westbrick Energy Ltd.
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Buyout
Vermilion Energy Inc. has completed the acquisition of Westbrick Energy Ltd., adding approximately 50,000 boe/d of production (75% gas), ~1.1 million (770,000 net) contiguous acres in Alberta's Deep Basin, and four operated gas plants with 102 mmcf/d capacity. Consideration includes cash and an option for Westbrick shareholders to elect Vermilion common shares (1.1 million shares elected, ~C$14.2 million), funded by cash on hand, a new C$450 million term loan and available revolving credit, with Vermilion citing significant operational synergies and a deep inventory of over 700 future drilling locations.
-
February 3, 2025
- Buyer
- ArcLight Capital Partners, LLC
- Target
- Gulf Coast Express Pipeline LLC
- Seller
- An affiliate of Phillips 66
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Growth capital
ArcLight Capital Partners acquired a 25% equity interest in Gulf Coast Express Pipeline LLC (GCX) for $865 million from an affiliate of Phillips 66. Going forward GCX will be jointly owned by subsidiaries of Kinder Morgan and ArcLight and will continue to be operated by a Kinder Morgan subsidiary; the pipeline provides ~2 Bcf/d takeaway capacity from the Permian Basin to U.S. Gulf Coast end markets including LNG export facilities in South Texas.
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Frequently Asked Questions
What types of oil & gas deals are represented here?
Deals include upstream asset and working‑interest purchases, acquisitions of service and equipment businesses, distributor and blender add‑ons, private equity investments and joint ventures. Examples: basin asset buyouts, service company tuck‑ins, and majority‑stake JVs.
Which geographies are most active in these transactions?
Activity is concentrated in U.S. basins such as the Permian, Eagle Ford and DJ Basin, with material transactions in Alberta, Canada, and additional distributor/service deals across states like California, Missouri, Tennessee and Pennsylvania.
Who are the common buyers?
A mix of buyers appears: independent and public E&Ps, private equity funds, oilfield service and equipment companies, and regional distributors. Recurring names on this page include Civitas Resources, Inc., Energy Transfer LP, Lime Rock Partners, Cactus, Inc., and RelaDyne.
Are there any notable deal structures or sizes to be aware of?
Structures shown include a 65% controlling JV interest in a major service line, take‑private transactions, all‑stock combinations and equity commitments. Examples of disclosed sizes: Peoria Resources, LLC's DJ Basin purchase ($1.26B) and Canadian Natural Resources Ltd.'s acquisition of Tourmaline ($800M).