Tracked deals
41
41 tracked deals across 2024.
Oil & Gas Acquisitions in 2024
Buyer mix
Strategic-led
39 strategic · 12 pe
Top trend
Volume peaked in 2026
46 tracked deals announced in 2026.
Buyer Snapshot
Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Imperative Chemical Partners, Inc. | 2 | Provider of production and completion chemicals, acid sti... | Strategic (PE-backed) |
| APA Corporation | 1 | Independent energy company focused on exploring for and p... | Strategic |
| ARB Midstream | 1 | Privately held energy company offering crude midstream so... | Strategic |
| Archrock, Inc. | 1 | Energy infrastructure company focused on U.S. natural gas... | Strategic |
| Axis Energy Services LLC | 1 | Integrated U.S. onshore well service company providing co... | Strategic |
| BP Energy Partners | 1 | Dallas-based private equity firm making control investmen... | PE |
| California Resources Corporation | 1 | Independent energy company focused on oil and gas product... | Strategic |
| Carnelian Energy Capital | 1 | Energy-focused private investment firm managing funds tha... | PE |
| ChampionX | 1 | Global oilfield technology company focused on products an... | Strategic |
| Chord Energy | 1 | Independent oil and gas operator with core production ass... | Strategic |
Acquisition Volume in Oil & Gas in 2024 by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
December 31, 2024
- Buyer
- EG Acquisition LLC
- Target
- Golden Vertex Corp., Golden Vertex (Idaho) Corp., Elevation Gold Mining Corporation (certain assets, including shares of Golden Vertex Corp.)
- Seller
- Elevation Gold Mining Corporation
- Industry
- Oil & Gas
- Location
- Arizona, United States
- Type
- Divestiture
Elevation Gold Mining Corporation entered into a purchase and sale agreement with EG Acquisition LLC to sell certain assets, including the outstanding common shares of Golden Vertex Corp., which holds the Moss Mine in Arizona. The transaction received Canadian Supreme Court approval on December 17, 2024 and the U.S. recognition/approval order was entered on December 30, 2024, with closing expected/occurring on December 31, 2024.
-
December 17, 2024
- Buyer
- Zamajal, S. A. de C.V., Grupo Carso, S.A.B. de C.V., Control Empresarial de Capitales, S.A. de C.V.
- Target
- Talos Mexico
- Seller
- Talos Energy Inc., Talos Mexico
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Divestiture
Talos Energy sold an additional 30.1% interest in its Mexican subsidiary, Talos Mexico, to Zamajal, an entity owned primarily by Grupo Carso. The deal increases Zamajal’s ownership to 80% of Talos Mexico (Talos retains 20%), with Talos receiving $49.7 million in cash at closing and $33.0 million contingent upon first commercial production from the Zama Field.
-
December 16, 2024
- Buyer
- Vitesse Energy, Inc.
- Target
- Lucero Energy Corp.
- Seller
- FR XIII PetroShale Holdings L.P.
- Industry
- Oil & Gas
- Location
- North Dakota, United States
- Type
- Buyout
Vitesse Energy, Inc. will acquire Lucero Energy Corp. in an all-stock transaction valued at approximately US$222 million (fully diluted equity value). The deal is expected to close in the second quarter of 2025, and would add Lucero’s operated oil and gas production assets in the Bakken to Vitesse’s portfolio.
-
- Buyer
- Seplat Energy Plc
- Target
- Mobil Producing Nigeria Unlimited (MPNU)
- Seller
- ExxonMobil Corporation
- Industry
- Oil & Gas
- Location
- Nigeria
- Type
- Divestiture
Seplat Energy Plc has completed the acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil Corporation for $672 million in cash. The deal—part of Seplat's Nigeria-focused growth strategy—boosts pro forma production and 2P reserves substantially and transfers roughly 1,000 Mobil staff to Seplat, funded from available cash and debt facilities.
-
December 10, 2024
- Buyer
- TotalEnergies
- Target
- SapuraOMV Upstream (SapuraOMV)
- Seller
- OMV, Sapura Upstream Assets
- Industry
- Oil & Gas
- Location
- Sarawak, Malaysia
- Type
- Buyout
TotalEnergies completed the acquisition of the upstream gas interests held by OMV and Sapura (each 50%) in SapuraOMV Upstream, giving it operated stakes in blocks SK408 and SK310 offshore Sarawak. The deal strengthens TotalEnergies' upstream gas position in Malaysia and secures additional feed for the Bintulu LNG plant while keeping production costs and emissions intensity low.
-
- Buyer
- Innovex International, Inc.
- Target
- Downhole Well Solutions, LLC
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Innovex International (NYSE: INVX) has completed the acquisition of the remaining equity ownership of Downhole Well Solutions, LLC (DWS), having made a prior minority investment in May 2023. The acquisition brings DWS's proprietary drilling optimization and friction-reduction rental tools into Innovex's product portfolio to expand its downhole technology offerings and support growth in US Land and international markets.
-
- Buyer
- Gordon Technologies LLC, Enersol
- Target
- Vertex Downhole Trading LLC (Vertex UAE)
- Seller
- Vertex Downhole Technologies Inc
- Industry
- Oil & Gas
- Location
- Dubai, United Arab Emirates
- Type
- Buyout
Gordon Technologies LLC, an Enersol company, has acquired Vertex Downhole Trading LLC (Vertex UAE), the Eastern Hemisphere business of Vertex Downhole Technologies Inc. The deal expands Gordon's Measurement While Drilling (MWD) footprint across the Middle East and Eastern Hemisphere and transfers IP rights for Winc, Winc+ and Mudlink technologies.
-
- Buyer
- ONEOK, Inc.
- Target
- Medallion Midstream
- Seller
- Global Infrastructure Partners
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
ONEOK, Inc. (NYSE: OKE) has closed its acquisition of Medallion Midstream from Global Infrastructure Partners for approximately $2.6 billion in cash. The deal adds over 1,200 miles of crude gathering pipelines (≈1.3 million barrels per day capacity) and ~1.5 million barrels of crude storage in the Permian Basin, expanding ONEOK's crude gathering, transportation and storage capabilities and creating commercial synergies with its existing pipeline network.
-
October 9, 2024
- Buyer
- Minerva Bunkering
- Target
- Bomin Bunker Oil
- Seller
- Mabanaft
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Minerva Bunkering, a subsidiary of Mercuria Energy Group, has acquired Bomin Bunker Oil from Mabanaft, extending Minerva’s physical supply footprint across the Americas. The deal adds supply locations in US Gulf Coast ports, Houston, Norfolk, Panama and Ecuador and establishes Minerva’s first physical supply operation in Houston to strengthen service capabilities in the region.
-
- Buyer
- Imperative Chemical Partners, Inc.
- Target
- Performance Chemical Company
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Imperative Chemical Partners, Inc. acquired Performance Chemical Company, a Midland, Texas-based provider of specialty chemical solutions serving midstream and production operators in the oil & gas industry. The acquisition expands Imperative's midstream service capabilities and geographic reach, while PCC's founders will retire following the transaction; terms were not disclosed.
-
October 1, 2024
- Buyer
- Axis Energy Services LLC
- Target
- Brigade Energy Services LLC
- Industry
- Oil & Gas
- Location
- Colorado, United States
- Type
- Buyout
Axis Energy Services and Brigade Energy Services have closed a merger to form a combined well-servicing company operating under the Axis Energy Services name and headquartered in Dallas. The combination creates a larger, technology-forward well services provider with expanded workforce and equipment capacity—positioning the company to better serve major U.S. oil and gas basins and accelerate P&A, completion and workover capabilities.
-
- Buyer
- Tailwater E&P LLC, Tailwater Capital LLC
- Target
- Non‑operated working interest asset package (Permian Basin) — assets acquired from Accelerate Resources Operating LLC
- Seller
- Accelerate Resources Operating LLC
- Industry
- Oil & Gas
- Location
- Texas; New Mexico, United States
- Type
- Divestiture
Tailwater E&P LLC, the upstream platform of private equity firm Tailwater Capital, acquired an off‑market non‑operated working interest asset package in the Permian Basin from Accelerate Resources Operating LLC. The assets include more than 5,000 net leasehold acres and produce in excess of 5,000 net barrels of oil equivalent per day across the Midland and Delaware Basins, and Tailwater E&P hedged a significant portion of the production profile as part of the transaction.
-
September 24, 2024
- Buyer
- Carnelian Energy Capital
- Target
- Zavanna, LLC
- Industry
- Oil & Gas
- Location
- Colorado, United States
- Type
- Recapitalization
Denver-based independent E&P company Zavanna received an equity investment from investment funds managed by Carnelian Energy Capital to recapitalize the business and fund development of its Williston Basin asset base. Management and founder Bill Coleman retain a significant ownership stake alongside Carnelian; the new capital will also support accretive bolt-on acquisitions and trades.
-
September 4, 2024
- Buyer
- Harbour Energy plc, L1 (LetterOne)
- Target
- Wintershall Dea (upstream business)
- Seller
- BASF, L1 (LetterOne)
- Industry
- Oil & Gas
- Location
- Hesse, Germany
- Type
- Divestiture
Harbour Energy has acquired the majority of Wintershall Dea's upstream business for $11.2 billion in a transfer completed by BASF and L1 (LetterOne). As part of the transaction, L1 received a 14.87% preference shareholding in Harbour, making it a minority shareholder while Harbour expands its upstream E&P portfolio.
-
August 26, 2024
- Buyer
- Waring Oil Company LLC
- Target
- Lavigne Oil Company of Baton Rouge LLC
- Industry
- Oil & Gas
- Location
- Louisiana, United States
- Type
- Buyout
Waring Oil Company LLC acquired Lavigne Oil Company of Baton Rouge LLC, effective Aug. 26, expanding Waring’s geographic footprint into Louisiana. The deal transfers Lavigne’s fuel tanks to Waring, keeps Kevin Cutrer on as an outside salesperson, and broadens Waring’s wholesale fuels, lubricants and DEF service capabilities.
-
August 19, 2024
- Buyer
- Quantum Capital Group, QB Energy, KODA Resources
- Target
- Caerus Oil and Gas
- Seller
- Caerus Investor Group (Oaktree Capital Management; The Anschutz Corporation; Old Ironsides Energy), Caerus Oil and Gas
- Industry
- Oil & Gas
- Location
- Colorado, United States
- Type
- Divestiture
Quantum Capital Group, through two portfolio companies QB Energy and KODA Resources, has acquired the oil and gas operations and acreage of Caerus Oil and Gas for approximately $1.8 billion, including assumption of certain asset-backed securities and liabilities. The deal splits Piceance Basin assets to QB Energy and Uinta Basin assets to KODA, transferring operations and many Caerus staff to the acquiring operators to support continued natural gas development for western U.S. markets.
-
August 6, 2024
- Buyer
- Palmdale Oil
- Target
- Maassen Oil Company, Inc.
- Industry
- Oil & Gas
- Location
- Florida, United States
- Type
- Buyout
Palmdale Oil, a family-owned Florida fuel and lubricants provider headquartered in Palm Beach Gardens, has acquired Maassen Oil Company, Inc., a small Arcadia, Florida-based distributor of refined fuels, lubricants and propane. The deal expands Palmdale's bulk plant footprint and distribution capabilities across Florida, enhancing transportation efficiency and service coverage in markets including Tampa and Fort Myers.
-
August 5, 2024
- Buyer
- SNF Holding Company
- Target
- PfP Industries, Ace Fluid Solutions
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
SNF, the global specialty chemicals group, has signed agreements to acquire PfP Industries and Ace Fluid Solutions to strengthen its oil and gas product and service offering. The transactions expand SNF’s friction reducer and fluid management capabilities—including dry, slurry and emulsion friction reducers—and enhance its presence serving upstream oil & gas customers, particularly in the Permian Basin.
-
- Buyer
- Helmerich & Payne, Inc.
- Target
- KCA Deutag International Limited
- Industry
- Oil & Gas
- Location
- Scotland, United Kingdom
- Type
- Buyout
Helmerich & Payne (H&P) has entered a definitive agreement to acquire KCA Deutag International Limited for $1.9725 billion in cash, a transaction expected to close before the end of 2024 subject to customary conditions. The deal materially expands H&P's international footprint—notably increasing its Middle East rig count from 12 to 88—adds offshore management contracts and manufacturing capabilities, and is expected to be immediately accretive to cash flow per share.
-
- Buyer
- Archrock, Inc.
- Target
- Total Operations and Production Services, LLC (TOPS)
- Seller
- Investment funds managed by affiliates of Apollo Global Management, Inc.
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Archrock, Inc. will acquire Total Operations and Production Services, LLC (TOPS) from investment funds managed by affiliates of Apollo Global Management in a cash-and-stock transaction valued at $983 million. The deal adds approximately 580,000 horsepower (predominantly electric motor drive compression), deepens Archrock's Permian Basin footprint and electric compression capabilities, and is expected to be immediately accretive to earnings and cash available for dividend per share.
-
- Buyer
- Elevation Midstream, ARB Midstream
- Target
- Platte River Holdings (ARB Midstream subsidiary)
- Industry
- Oil & Gas
- Location
- Colorado, United States
- Type
- Buyout
Elevation Midstream has merged with Platte River Holdings, a subsidiary of ARB Midstream, combining contiguous crude, gas and water midstream assets in the Denver‑Julesburg (DJ) Basin. The transaction creates a larger, integrated midstream platform with expanded gathering, transmission and terminal capabilities to support basin consolidation and future M&A-driven growth.
-
- Buyer
- California Resources Corporation
- Target
- Aera Energy, LLC
- Seller
- IKAV Energy Inc., Canada Pension Plan Investment Board, Oaktree Capital Management, LP
- Industry
- Oil & Gas
- Location
- California, United States
- Type
- Buyout
California Resources Corporation (CRC) completed an all-stock combination with Aera Energy, LLC, creating a larger California-focused oil producer and carbon management platform. The transaction issued 21.3 million CRC shares to Aera's former equity owners (IKAV, CPPIB and Oaktree), produces pro forma net daily output of ~146 Mboe/d, and CRC expects $150 million in annual synergies within 15 months.
-
- Buyer
- Kinetik Holdings Inc.
- Target
- Durango Permian LLC
- Seller
- Funds managed by Morgan Stanley Energy Partners, Durango Midstream LLC
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Divestiture
Kinetik Holdings Inc. has completed the acquisition of Durango Permian LLC from investment funds managed by Morgan Stanley Energy Partners. The transaction transfers Durango Permian's Permian Basin gas gathering, processing and CO2 sequestration assets to Kinetik and includes cash and equity consideration with contingent payments tied to commissioning of the Kings Landing processing project.
-
- Buyer
- The Carlyle Group (via Carlyle International Energy Partners)
- Target
- Portfolio of E&P assets from Energean plc (including Cassiopea and Abu Qir)
- Seller
- Energean plc
- Industry
- Oil & Gas
- Location
- United Kingdom
- Type
- Buyout
The Carlyle Group, through its Carlyle International Energy Partners fund, has agreed to acquire a portfolio of gas-weighted exploration and production (E&P) assets in Italy, Egypt and Croatia from Energean plc. The assets — which include interests in the Cassiopea field (Italy) and the Abu Qir hub (Egypt) — will form the basis of a standalone Mediterranean E&P platform subject to regulatory approvals.
-
- Buyer
- Noble Corporation plc
- Target
- Diamond Offshore Drilling, Inc.
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Noble Corporation plc entered into a definitive merger agreement to acquire Diamond Offshore Drilling, Inc. in a stock-plus-cash transaction, with Diamond shareholders receiving 0.2316 Noble shares plus $5.65 in cash per Diamond share. The acquisition closed on September 4, 2024, expanding Noble’s offshore drilling fleet and adding approximately $2 billion of backlog.
-
- Buyer
- Energy Transfer LP
- Target
- WTG Midstream Holdings LLC
- Seller
- Affiliates of Stonepeak, The Davis Estate, Diamondback Energy, Inc.
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Energy Transfer LP agreed to acquire WTG Midstream Holdings LLC in a transaction valued at approximately $3.25 billion, comprising $2.45 billion in cash and ~50.8 million newly issued Energy Transfer common units. The deal, from affiliates of Stonepeak, the Davis Estate and Diamondback Energy, adds WTG's Permian-focused midstream assets — including a 6,000-mile pipeline network, eight processing plants (≈1.3 Bcf/d) and a 20% interest in the BANGL NGL pipeline — to Energy Transfer's footprint to enhance its gas/NGL supply, processing and downstream capabilities.
-
April 29, 2024
- Buyer
- Tivoli Midstream LLC, Funds managed by Intrepid Investment Management, LLC
- Target
- Chocolate Bayou Assets
- Seller
- Affiliates of Ascend Performance Materials, LLC
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Divestiture
Tivoli Midstream LLC, backed by funds managed by Intrepid Investment Management, closed the acquisition of the Chocolate Bayou terminal and infrastructure assets in Brazoria County, Texas from affiliates of Ascend Performance Materials. The assets include approximately 3.0 million barrels of storage capacity (100+ tanks), extensive logistics connectivity (rail, truck, barge, pipelines) and are anchored by a long-term partnership with Ascend, positioning Tivoli to establish a Gulf Coast infrastructure hub.
-
- Buyer
- Global Partners LP
- Target
- Chelsea, Massachusetts liquid energy terminal (from Gulf Oil Limited Partnership), New Haven, Connecticut liquid energy terminal (from Gulf Oil Limited Partnership), Linden, New Jersey liquid energy terminal (from Gulf Oil Limited Partnership), Woodbury, New Jersey liquid energy terminal (from Gulf Oil Limited Partnership)
- Seller
- Gulf Oil Limited Partnership
- Industry
- Oil & Gas
- Location
- United States
- Type
- Divestiture
Global Partners LP has completed the acquisition of four liquid energy terminals from Gulf Oil Limited Partnership — Chelsea, MA; New Haven, CT; Linden, NJ; and Woodbury, NJ — for $212.3 million. The terminals add approximately 3.0 million barrels of shell capacity and strengthen Global's storage and distribution network across the U.S. Northeast, expanding its ability to serve gasoline, distillate and ethanol markets.
-
- Buyer
- Woodsman Energy Corp., Westbridge Capital Ltd. (fund manager / financier)
- Target
- Central and Northern Alberta oil and gas assets (Sullivan Lake and Valhalla)
- Industry
- Oil & Gas
- Location
- Alberta, Canada
- Type
- Addon
Woodsman Energy Corp., with financing provided by a fund managed by Westbridge Capital Ltd., closed the acquisition of oil and gas assets in Central and Northern Alberta (Sullivan Lake and Valhalla) on March 28, 2024. The properties add approximately 400 boe/d of production (about 60% oil/NGLs), are >95% working interest and mostly operated, and expand Woodsman's portfolio of long-life, low-decline assets.
-
March 25, 2024
- Buyer
- ChampionX
- Target
- RMSpumptools Limited
- Seller
- James Fisher and Sons plc
- Industry
- Oil & Gas
- Location
- United Kingdom
- Type
- Buyout
ChampionX plans to acquire RMSpumptools Limited, a business unit within James Fisher and Sons plc’s energy division, for a net purchase price of approximately £86 million (about $110 million). The acquisition is intended to integrate RMSpumptools’ engineered mechanical and electrical connector technologies into ChampionX’s Production and Automation Technologies portfolio and expand its presence in international oilfield markets.
-
March 25, 2024
- Buyer
- Imperative Chemical Partners, Inc.
- Target
- Western Chemical, LLC
- Industry
- Oil & Gas
- Location
- Utah, United States
- Type
- Buyout
Imperative Chemical Partners, a Midland, Texas-based oilfield chemical services provider, has acquired Western Chemical, a Roosevelt, Utah operator focused on the Uinta Basin. The deal expands Imperative’s geographic coverage and customer footprint in the Lower 48 and retains Western founder Joe Arnold in a leadership role within the combined organization.
-
March 18, 2024
- Buyer
- Drilling Tools International Corp.
- Target
- Deep Casing Tools
- Seller
- Energy Ventures III LP
- Industry
- Oil & Gas
- Location
- Aberdeenshire, United Kingdom
- Type
- Buyout
Drilling Tools International Corp. (DTI) has completed the acquisition of UK-based Deep Casing Tools (DCT), a developer and manufacturer of patented downhole drilling and casing-running technologies. Financial terms were not disclosed; Energy Ventures III LP, the largest shareholder in DCT, will exit on closing. The deal expands DTI's product capabilities and international footprint, with particular emphasis on the Middle East.
-
February 25, 2024
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%.
-
February 21, 2024
- Buyer
- Dead River Company
- Target
- Bourne's Energy
- Seller
- Peter Bourne / Bourne family
- Industry
- Oil & Gas
- Location
- Vermont, United States
- Type
- Buyout
Dead River Company, a Maine-based heating fuels and propane provider, acquired Bourne's Energy of Morrisville, Vermont effective February 1, 2024. The transaction expands Dead River's service footprint and customer base in Vermont; financial terms were not disclosed.
-
January 31, 2024
- Buyer
- Vår Energi ASA, Eni S.p.A.
- Target
- Neptune Energy Norge AS
- Seller
- Neptune Energy Group Holdings Limited, China Investment Corporation, Funds advised by Carlyle Group, CVC Capital Partners, Certain management owners
- Industry
- Oil & Gas
- Location
- Norway
- Type
- Buyout
Vår Energi ASA completed the acquisition of 100% of the shares in Neptune Energy Norge AS, strengthening its position on the Norwegian Continental Shelf and adding ~67 kboepd of production and ~265 mmboe of 2P reserves. The transaction was agreed at an enterprise value of USD 2.275 billion and closed on 31 January 2024 (effective date 1 January 2023); net cash consideration paid on completion (less cash in Neptune Norway) was approximately USD 1.2 billion. The deal increases Vår Energi's scale, operatorships and gas/LNG exposure and is inter-conditional with a separate transaction in which Eni acquires the remainder of Neptune's global assets.
-
January 30, 2024
- Buyer
- NOV
- Target
- Extract Companies, LLC
- Seller
- Riata Capital Group
- Industry
- Oil & Gas
- Location
- Oklahoma, United States
- Type
- Divestiture
NOV (National Oilwell Varco) has acquired Extract Companies, LLC, a Tulsa-based provider of artificial lift systems and ESP services, from Riata Capital Group. Under Riata's ownership Extract grew from under $10M to roughly $250M in revenue across nine facilities; terms were not disclosed and NOV said the acquisition will expand its artificial lift capabilities and customer service footprint.
-
- Buyer
- Cryopeak Energy Solutions Corporation, BP Energy Partners, The Energy & Minerals Group (EMG)
- Target
- Campus Energy Partners Infrastructure LP (LNG assets)
- Seller
- Campus Energy Partners Infrastructure LP
- Industry
- Oil & Gas
- Location
- British Columbia, Canada
- Type
- Divestiture
Cryopeak Energy Solutions Corporation — formed by the merger of Cryopeak LNG Solutions Corporation and Ferus Natural Gas Fuels Inc. — has acquired all LNG assets from Campus Energy Partners Infrastructure LP, including a regional LNG production facility in Dawson Creek, British Columbia. The deal makes Cryopeak the largest private, vertically integrated LNG producer and service provider in Canada, expanding its production capacity, transportation fleet and regional footprint.
-
January 22, 2024
- Buyer
- Pelican Energy Partners
- Target
- Stewart Tubular Products, LLC
- Seller
- Aterian Investment Partners
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
Pelican Energy Partners, an energy-focused private equity firm, has acquired Stewart Tubular Products, LLC from Aterian Investment Partners. Stewart, headquartered in Houston, Texas, is a precision manufacturer and provider of mission-critical threading services for downhole oil & gas components; Aterian had owned Stewart since 2016 and supported investments in equipment and ERP improvements. Pelican plans to continue supporting Stewart's growth as a supplier across the oil & gas value chain.
-
January 22, 2024
Sunoco LP and NuStar Energy L.P. entered into a definitive agreement under which Sunoco will acquire NuStar in an all-equity transaction valued at approximately $7.3 billion, including assumed debt. The deal is expected to close in Q2 2024 after satisfaction of customary closing conditions and approval by NuStar unitholders and regulators.
-
- Buyer
- Warburg Pincus (Capital Solutions Founders Fund)
- Target
- Service Compression, LLC
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Growth capital
Warburg Pincus, through its Capital Solutions Founders Fund, made a preferred equity investment in Service Compression to refinance existing borrowings and provide growth capital. The financing — paired with a new J.P. Morgan-led credit facility and additional shareholder capital — will be used to repay prior borrowings and expand Service Compression's fleet, including electric compression units to support customers' ESG initiatives.
-
- Buyer
- APA Corporation
- Target
- Callon Petroleum Company
- Industry
- Oil & Gas
- Location
- Texas, United States
- Type
- Buyout
APA Corporation entered into a definitive agreement to acquire Callon Petroleum Company in an all-stock transaction valued at approximately $4.5 billion, inclusive of Callon’s net debt. The deal is expected to be accretive to key financial metrics and expand APA’s Permian Basin footprint by combining Callon’s Delaware-focused assets with APA’s Midland assets.
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