Tracked deals
276
276 tracked deals across 2001-2026.
Top Oil & Gas Acquirers (2001-2026)
Buyer mix
Strategic-led
247 strategic · 94 pe
Top trend
Volume peaked in 2024
42 tracked deals announced in 2024.
Primary Insight
What Stands Out
- Upstream and downstream both feature: upstream project/stake deals (e.g., Bay du Nord; North Ustyurt PSA) alongside downstream refining and distribution acquisitions (e.g., Raízen in Argentina).
- Portfolio simplification and ownership build-outs show up in the same set of deals, including Equinor moving Bay du Nord toward full ownership.
- The page includes capability-focused M&A: Spotfire acquiring Enertel Holdings to integrate forecasting and valuation workflows into upstream planning.
- U.S. and Canada resources are recurring themes, including Mid-Continent producing assets and Canada’s Alberta Cardium and Duvernay light-oil positioning.
- International reach is visible across the dataset, with transactions tied to hubs like Singapore and offshore/PSA structures such as those in Uzbekistan and offshore Canada.
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Strathcona Resources Ltd. | 5 | North American oil & gas producer focused on thermal oil,... | Strategic (PE-backed) |
| Offen Petroleum | 4 | Independent distributor of motor fuel, propane, lubricant... | Strategic (PE-backed) |
| Gladstone Investment Corporation | 3 | Publicly traded business development company (BDC) that m... | PE |
| Harvest Midstream | 3 | Privately held midstream service provider operating crude... | Strategic |
| Ranger Energy Services, Inc. | 3 | Independent provider of well service rigs and associated ... | Strategic |
| RelaDyne | 3 | National distributor of lubricants, fuel, diesel exhaust ... | Strategic (PE-backed) |
| Superior Plus Corp. | 3 | Integrated propane distribution and specialty chemicals c... | Strategic |
| Xyresic Capital | 3 | Independent sponsor / lower-middle-market private equity ... | PE |
| CIC Partners | 2 | Middle-market private equity firm that invests growth cap... | PE |
| ConocoPhillips | 2 | Global independent oil and gas exploration and production... | Strategic |
Acquisition Volume in Oil & Gas by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
Vår Energi and BlueNord agreed to combine their businesses in a statutory merger that will create Europe’s largest independent oil and gas producer. The transaction will add BlueNord’s producing assets on the Danish Continental Shelf to Vår Energi’s North Sea operations, with BlueNord shareholders receiving a mix of newly issued Vår Energi shares and cash.
-
July 23, 2026
- Buyer
- Matador Resources Company
- Target
- Paloma Permian LLC, Ridge Runner Resources II, LLC
- Seller
- EnCap Investments (portfolio ownership noted), Ridge Runner Resources II (seller of the Woodford acreage to Matador)
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Matador Resources has entered into a definitive agreement to acquire Paloma Permian LLC, an EnCap Investments portfolio company, for $1.275 billion in cash. In addition, Matador agreed to acquire Woodford acreage from Ridge Runner Resources II, also an EnCap portfolio company, expanding its Delaware Basin position and Woodford play footprint (Paloma and Ridge Runner expected to close in the fourth quarter of 2026).
-
- Buyer
- Magnolia Oil & Gas Corporation
- Target
- WildFire Energy
- Seller
- Warburg Pincus LLC, Kayne Anderson
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Magnolia Oil & Gas has agreed to acquire WildFire Energy for approximately $4.06 billion, including WildFire’s debt. The deal is expected to close in late Q3 2026 and would add roughly 810,000 net acres in South Texas (Austin Chalk, Eagle Ford, and Woodbine formations).
-
- Buyer
- ConocoPhillips
- Target
- BP Energy Company of Kirkuk Limited
- Seller
- bp
- Industry
- Oil & Gas
- Location
- Kirkuk Governorate, Iraq
- Type
- Growth capital
bp and ConocoPhillips agreed to terms under which ConocoPhillips will acquire a 42% interest in BP Energy Company of Kirkuk Limited. The partnership is intended to support the redevelopment of multiple large oil and gas fields in Iraq’s Kirkuk region and increase long-term production potential under a development and production contract.
-
- Buyer
- Equinor
- Target
- Bay du Nord project (bp interest)
- Seller
- bp
- Industry
- Oil & Gas
- Location
- Rogaland, Norway
- Type
- Buyout
Equinor has reached an agreement with bp to acquire bp’s interest in the Bay du Nord offshore Canada project, increasing Equinor’s ownership to 100%. The transaction supports Equinor’s portfolio simplification as it continues maturing Bay du Nord toward a final investment decision targeted for early 2027.
-
- Buyer
- SandRidge Energy, Inc.
- Target
- Producing assets and leasehold interests in the Cherokee Play (Mid-Continent region)
- Industry
- Oil & Gas
- Location
- United States
- Type
- Buyout
SandRidge Energy entered into a definitive agreement to acquire producing assets and leasehold interests in the Cherokee Play in the Mid-Continent region for $65 million in cash, subject to customary purchase price adjustments. The deal is expected to close in the third quarter of 2026, with a May 1, 2026 effective date.
-
June 18, 2026
- Buyer
- Spotfire
- Target
- Enertel Holdings
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Spotfire, a business unit of Cloud Software Group, acquired Enertel Holdings to expand oil and gas asset valuation and economic analytics capabilities. Enertel’s QuantumCast forecasting and valuation workflows will be integrated into Spotfire Industry Pro to support upstream production forecasting, probabilistic type curves, and economic modeling.
-
- Buyer
- WINTON GROUP Ltd
- Target
- Agnico Eagle Mines Limited
- Industry
- Oil & Gas
- Location
- Ontario, Canada
- Type
- Growth capital
WINTON GROUP Ltd acquired an additional 5,000 shares of Agnico Eagle Mines Limited (AEM) in the fourth quarter, according to HoldingsChannel/MarketBeat. The stake was valued at approximately $848,000, with other institutional investors also making share adjustments during the same period.
-
- Buyer
- Mercuria Energy Group
- Target
- Raízen's downstream and related operations in Argentina, Raízen Argentina
- Seller
- Raízen
- Industry
- Oil & Gas
- Location
- Argentina
- Type
- Buyout
Mercuria Energy Group signed a binding agreement to acquire 100% of Raízen's downstream and related operations in Argentina. The acquired businesses include refining, fuel distribution, and associated infrastructure assets, subject to customary closing conditions and regulatory approvals.
-
May 26, 2026
- Buyer
- Northern Oil and Gas, Inc., Carnelian Energy Capital Management, L.P.
- Target
- Parallax Energy Operating Inc., Light-Oil Duvernay Assets (Duvernay East Shale Basin)
- Seller
- Parallax Energy Operating Inc. (Seller referenced for the assets/interest)
- Industry
- Oil & Gas
- Location
- Minnesota, United States
- Type
- Buyout
Northern Oil and Gas (NOG) has agreed to purchase an undivided 25% interest in Parallax Energy Operating Inc.’s Light-Oil Duvernay assets for an initial unadjusted purchase price of CA$350 million (about US$259 million). The transaction is funded with NOG common stock plus cash and includes potential CA$25 million contingent consideration, with NOG expecting to close late in the second quarter of 2026.
-
- Buyer
- LNG Energy Group Corp., Fifth Ocean Management LP, Westlawn Group
- Target
- Existing and future oil and gas blocks in Venezuela (via new JV company)
- Industry
- Oil & Gas
- Location
- Ontario, Canada
- Type
- Growth capital
LNG Energy Group Corp. entered into a binding exclusivity agreement and letter of intent to establish a 50/50 joint venture with Fifth Ocean Management LP, in partnership with Westlawn Group, to explore and develop oil and gas blocks in Venezuela. The proposed JV company would be organized in the United States, with LNG contributing existing Venezuela oil and gas assets and Fifth Ocean funding an investment program of up to US$200 million, subject to due diligence and definitive agreements.
-
May 14, 2026
- Buyer
- ENEOS Holdings Inc.
- Target
- Chevron South Asia Holdings Pte. Ltd.-held Chevron Singapore Pte. Ltd.'s 50% non-operated interest in Singapore Refining Co.'s Jurong Island refining complex, Chevron Lubricants Vietnam Ltd., Chevron Malaysia Ltd., Chevron Philippines Inc., Chevron Australia Downstream Holdings Pty. Ltd., PT Chevron Oil Products Indonesia (Chevron’s 99.99% stake)
- Seller
- Indirect subsidiaries of Chevron Corp.
- Industry
- Oil & Gas
- Location
- Singapore
- Type
- Buyout
ENEOS Holdings, via a newly established special purpose vehicle, has entered into share purchase agreements with indirect Chevron subsidiaries to acquire Chevron’s interests in downstream refining, marketing and retail assets across Southeast Asia-Pacific and Australia for $2.17 billion. The portfolio includes Chevron’s stake in Singapore’s Jurong Island refinery (Singapore Refining Co.), along with Caltex-branded retail and lubricants businesses in Vietnam, Malaysia, the Philippines and Indonesia, and Australia downstream marketing interests. The transaction is expected to close in 2027, subject to regulatory approvals and closing conditions.
-
- Buyer
- bp
- Target
- North Ustyurt Production Sharing Agreement (PSA) exploration blocks (Boyterak, Terengquduq, Birqori, Kharoy, Qoraqalpoq, Qulboy)
- Seller
- SOCAR, Uzbekneftegaz
- Industry
- Oil & Gas
- Location
- Uzbekistan
- Type
- Buyout
bp entered into a production sharing agreement covering six exploration blocks in Uzbekistan’s North Ustyurt region. The company acquired a 40% participating interest (20% from SOCAR and 20% from Uzbekneftegaz), with SOCAR serving as operator alongside Uzbekneftegaz at 30% and SOCAR at 30%.
-
- Buyer
- Kraken Resources LLC, Kraken Oil & Gas Partners LLC
- Target
- Zavanna Energy Operating, LLC
- Industry
- Oil & Gas
- Location
- North Dakota, United States
- Type
- Buyout
Kraken Resources LLC acquired the membership interests of Zavanna Energy Operating, LLC on March 31, 2026. The acquisition includes approximately 35,000 net leasehold acres in North Dakota (Williams and McKenzie counties) and producing assets such as 175 operated wells, funded with borrowings under Kraken’s revolving credit facility, a $200 million equity contribution from affiliates of Kayne Anderson, and proceeds from a $400 million senior notes offering.
-
- Buyer
- Expro Group Holdings N.V.
- Target
- Enhanced Well Technologies Group AS
- Industry
- Oil & Gas
- Location
- Norway
- Type
- Buyout
Expro Group Holdings N.V. entered into a definitive agreement to acquire Enhanced Well Technologies Group AS (Enhanced Drilling) for approximately NOK 2 billion (about $215 million) in cash, subject to customary closing conditions. The deal subsequently closed, and Expro plans to integrate Enhanced Drilling’s managed pressure drilling (MPD) and riserless mud recovery services into its energy services portfolio to improve drilling efficiency, reduce operational risk, and expand the technologies across more offshore basins.
-
April 21, 2026
- Buyer
- OCI Global, OCI Chemicals B.V.
- Target
- Methanex Corporation
- Seller
- OCI Global, OCI Chemicals B.V.
- Industry
- Oil & Gas
- Location
- Canada
- Type
- Divestiture
OCI Global (via its wholly owned subsidiary OCI Chemicals B.V.) sold all remaining Methanex Corporation shares it held, disposing of 2,612,962 common shares (about 3.4% of Methanex’s issued shares) on April 20, 2026. The block trade generated net proceeds of approximately US$138.1 million, and OCI no longer owns or directs any Methanex shares.
-
- Buyer
- Acerta Energy Ltd., McIntyre Partners, Trafigura
- Target
- Hawthorne Energy
- Seller
- Hawthorne Energy
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Buyout
Acerta Energy Ltd. acquired operated light oil and gas assets in central Alberta’s Cardium fairway from Hawthorne Energy, delivering approximately 8,300 boe/d of production. The transaction was backed by McIntyre Partners and Trafigura, and Acerta concurrently closed a US$175 million senior secured bond private placement; closing occurred on 10 April 2026 with expected post-closing regulatory approvals.
-
April 10, 2026
- Buyer
- Paramount Resources Ltd.
- Target
- Canadian Premium Sand Inc.
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Growth capital
Paramount Resources Ltd. acquired $275,000 in principal amount of 12.0% secured convertible debentures of Canadian Premium Sand Inc. as part of a private placement completed on April 9, 2026. The debentures mature on February 26, 2027 and may be converted into common shares at a $0.15 conversion price.
-
March 27, 2026
- Buyer
- Tenaris
- Target
- AllTorque's oilfield division, AllTorque Control Systems Inc.
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Buyout
Tenaris has acquired AllTorque’s oilfield division, strengthening its tubular running services by integrating AllTorque’s torque-turn monitoring systems into Tenaris’s Rig Direct and WISer offerings. The deal is designed to improve well integrity and rig-floor operational efficiency, building on an existing collaboration and expanding Tenaris’s Canada footprint.
-
- Buyer
- Mako Mining Corp.
- Target
- Mt. Hamilton LLC
- Seller
- Sailfish Royalty Corp.
- Industry
- Oil & Gas
- Location
- Nevada, United States
- Type
- Buyout
Mako Mining Corp. completed the acquisition of 100% of the legal registered membership interests of Mt. Hamilton LLC, the owner of the Mt. Hamilton gold project in Nevada, USA. The $40 million purchase price was paid through a gold stream arrangement under a gold purchase agreement with Sailfish Royalty Corp., and the transaction was completed following Mako shareholder approval on March 3, 2026.
-
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.
-
- Buyer
- STEP Energy Services Ltd.
- Target
- Sanjel Energy Services Inc.
- Industry
- Oil & Gas
- Location
- Canada
- Type
- Buyout
STEP Energy Services Ltd. completed the acquisition of Sanjel Energy Services Inc. on March 9, 2026. Blake, Cassels & Graydon LLP advised Sanjel Energy Services Inc.
-
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.
-
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.
-
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.
-
February 13, 2026
- Buyer
- Teine Energy Ltd.
- Target
- TMax Energy Ltd.
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Addon
Teine Energy Ltd. has entered into a definitive agreement to acquire all the outstanding shares of TMax Energy Ltd. in a Duvernay “tuck-in” acquisition. The deal is intended to increase Teine’s total Duvernay acreage to over 700 sections, with Teine producing over 10,000 boe per day within the Carrot Creek Duvernay lands.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
- 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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
- 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.
-
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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Frequently Asked Questions
What kinds of acquisitions are covered in Oil & Gas on this page?
The page highlights a range of deal types, including upstream project and producing-asset purchases, downstream refining and fuel distribution acquisitions, stake transactions, and an oil & gas analytics software acquisition (e.g., Spotfire / Enertel Holdings).
Are there deals focused on upstream assets or project interests?
Yes. Examples include Equinor acquiring bp’s interest in the Bay du Nord offshore Canada project and bp taking a 40% participating interest in Uzbekistan’s North Ustyurt production sharing agreement.
Does the page also include downstream or refining-related transactions?
Yes. Mercuria Energy Group’s agreement to acquire Raízen’s Argentina downstream and related operations, and ENEOS’ acquisition of Chevron’s downstream refining, marketing and retail assets, are both downstream-focused.
What geographies appear in the recent Oil & Gas acquisitions?
Recent locations shown include Rogaland (Norway), the United States (Texas, Minnesota, North Dakota), Ontario (Canada), Argentina, Singapore, Uzbekistan, and additional international references tied to specific deal footprints.
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