Devon Energy announced that it has entered into a definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy. Search Oil & Gas Jobs >> https://lnkd.in/epRnWH3p #oilgas #energynews #USA
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Strathcona Resources to go public through deal to buy Pipestone Energy: CALGARY — Strathcona Resources Ltd. says it will go public through a deal to purchase oil and gas exploration company Pipestone Energy Corp. Calgary-based oil and gas producer Strathcona says the deal will value the combined business at $8.6 billion. It adds the new company will become the fifth largest oil producer in Canada. Strathcona … Strathcona Resources to go public through deal to buy Pipestone Energy Read More » The post Strathcona Resources to go public through deal to buy Pipestone Energy appeared first on Energeticcity.ca. https://bit.ly/47ca6EQ
Strathcona Resources to go public through deal to buy Pipestone Energy
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United States oil company Devon Energy (10/7/24: $29 billion market value) has announced to buy Williston Basin assets from Grayson Mill Energy for $5 billion with $3.25 billion in cash & $1.75 billion by issuing new shares. Grayson Mill Energy is owned by private equity group EnCap. Read - https://lnkd.in/gVZq5usG follow Caproasia | Driving the future of Asia United States oil company Devon Energy (10/7/24: $29 billion market value) has announced to buy Williston Basin assets from Grayson Mill Energy for $5 billionwith $3.25 billion in cash & $1.75 billion by issuing new shares. Grayson Mill Energy is owned by private equity group EnCap. Announcement (8/7/24): “Devon Energy (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy in a transaction valued at $5 billion, consisting of $3.25 billion of cash and $1.75 billion of stock to the sellers. The transaction is subject to customary terms and conditions, including various purchase price adjustments, and is expected to close by the end of the third quarter of 2024, with an effective date of June 1, 2024 … … The transaction is immediately accretive to Devon’s key per-share financial measures, including earnings, cash flow, free cash flow and net asset value. The assets were acquired at less than 4-times EBITDAX, with an estimated free cash flow yield of 15 percent at an $80 WTI oil price.” Devon Energy – Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. Devon Energy EnCap Investments L.L.C Grayson Mill Energy
United States $29 Billion Oil Company Devon Energy to Buy Williston Basin Assets from Grayson Mill Energy for $5 Billion with $3.25 Billion in Cash & $1.75 Billion by Issuing New Shares, Grayson Mill Energy is Owned by Private Equity Group EnCap
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In and about the oil, gas & renewables industry Diamondback acquires Endeavor Diamondback Energy Inc. agreed to buy fellow Texas oil-and-gas producer Endeavor Energy Resources LP in a $26 billion cash-and-stock deal to create the largest operator focused on the prolific Permian Basin. Diamondback will fund the deal with 117.3 million shares and $8 billion in cash, the two Midland, Texas-based companies said in a statement Monday. Diamondback shareholders will own 60.5% of the company after the deal closes. Shareholders of Endeavor, which isn’t publicly traded, will own the rest. Diamondback will fund the deal with 117.3 million shares and $8 billion in cash. The agreement is the latest in a string of massive deals transforming the US energy landscape as companies push to line up future drilling sites and cut costs. Over the past four months, Exxon Mobil Corp. struck a deal to buy Pioneer Resources for about $60 billion, Chevron Corp. agreed to buy Hess Corp. for about $53 billion and Occidental Petroleum Corp. agreed to buy CrownRock LP for about $10.8 billion. This post was adapted from an article by Joe Ryan and Mitchell Ferman of Bloomberg and brought to you by Cordell Marshall.
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Endeavor Energy busy in the Midland Basin last 30 days - get the full report https://lnkd.in/gAB3ntNq Endeavor Energy Resources ranks #8 in wells drilled in 2022 with 278 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana. With an asset position of approximately 370,000 net acres in the Midland Basin, Endeavor is poised for growth as it executes its horizontal drilling program. An estimated 90% of Endeavor’s assets in the Midland Basin have yet to be developed. Endeavor Energy Area of Operation Midland County, TX ranks #1 in the state of Texas for BOE produced in the most recent month (Jun 2022). The information below is the summary of oil and gas data that goes back to 1993 and contains information on the 13,795 wells that have been drilled from Jan 1993 to Jun 2022. Endeavor Energy has drilled 259 wells in Midland County since 2020. Martin County, TX ranks #3 in the state for BOE produced in the most recent month (Jun 2022). The information below is the summary of oil and gas data that goes back to 1993 and contains information on the 11,304 wells that have been drilled from Jan 1993 to Jun 2022. Endeavor Energy has drilled 206 wells in Martin County since 2020. Howard County, TX ranks #6 in the state for BOE produced in the most recent month (Jun 2022). The information below is the summary of oil and gas data that goes back to 1993 and contains information on the 12,428 wells that have been drilled from Jan 1993 to Jun 2022. Upton County, TX ranks #7 in the state for BOE produced in the most recent month (Jun 2022). The information below is the summary of oil and gas data that goes back to 1993 and contains information on the 12,536 wells that have been drilled from Jan 1993 to Jun 2022. Additional Counties that Endeavor Energy drill include Reagan, Upton, Glasscock and Howard. Areas of Operation
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Grayson Mill Energy, an oil and gas exploration firm based in Houston, has been supported by private equity firm EnCap Investments since 2016. The sale of the Williston Basin assets suggests that EnCap is gradually retreating from the energy sector. #energy #mergersacquisitions #oilandgas #texas #antitrust #antitrustlaw #competitionlaw
Devon Energy to Buy Grayson Mill's Williston Assets for $5B
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Beacon Energy, a company engaged in oil and gas exploration and production, has recently announced the sale of its deepwater Gulf of Mexico assets to GOM 1 Holdings. The sale of these assets is part of Beacon Energy’s strategic realignment or divestment of certain assets to focus on core operations, reduce debt, or pursue new opportunities. Key points about the sale of Beacon Energy’s deepwater Gulf of Mexico assets to GOM 1 Holdings include: 1. Asset Sale: The sale involves Beacon Energy transferring ownership of its deepwater assets in the Gulf of Mexico to GOM 1 Holdings. This transaction typically includes oil and gas production platforms, drilling rights, reserves, and related infrastructure located in the deepwater Gulf of Mexico region. 2. Strategic Realignment: Companies in the oil and gas industry often engage in asset sales or divestitures as part of their strategic realignment efforts. By selling non-core assets or underperforming properties, companies can streamline their operations, optimize their portfolio, and allocate resources more effectively to high-potential areas. 3. Financial Impact: The sale of deepwater Gulf of Mexico assets can have financial implications for Beacon Energy. Depending on the terms of the transaction, the company may receive cash proceeds from the sale, which can be used to pay down debt, fund new projects, or strengthen its financial position. 4. Focus on Core Operations: By divesting its deepwater Gulf of Mexico assets, Beacon Energy may be able to focus on its core operations or strategic priorities. This could involve reallocating resources to other regions, projects, or business segments that offer higher growth potential or better align with the company’s long-term objectives. 5. Regulatory Approval: The sale of oil and gas assets, especially in offshore regions like the Gulf of Mexico, may be subject to regulatory approval by government agencies overseeing energy exploration and production activities. Compliance with regulatory requirements is essential for completing the transaction smoothly and in accordance with legal and environmental standards. Overall, the sale of Beacon Energy’s deepwater Gulf of Mexico assets to GOM 1 Holdings represents a strategic decision aimed at optimizing the company’s portfolio, enhancing financial flexibility, and positioning itself for future growth opportunities in the oil and gas industry.
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Director at Caproasia | Capital Markets, Investments, Private Wealth & Family Office for Institutions, Billionaires, UHNWs & HNWs in APAC (Events, Roundtables, Summits, Research, Data, Media, Marketplace, Platforms)
United States oil company Devon Energy (10/7/24: $29 billion market value) has announced to buy Williston Basin assets from Grayson Mill Energy for $5 billion with $3.25 billion in cash & $1.75 billion by issuing new shares. Grayson Mill Energy is owned by private equity group EnCap. Read - https://lnkd.in/gD43NsPQ follow Caproasia | Driving the future of Asia United States oil company Devon Energy (10/7/24: $29 billion market value) has announced to buy Williston Basin assets from Grayson Mill Energy for $5 billionwith $3.25 billion in cash & $1.75 billion by issuing new shares. Grayson Mill Energy is owned by private equity group EnCap. Announcement (8/7/24): “Devon Energy (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy in a transaction valued at $5 billion, consisting of $3.25 billion of cash and $1.75 billion of stock to the sellers. The transaction is subject to customary terms and conditions, including various purchase price adjustments, and is expected to close by the end of the third quarter of 2024, with an effective date of June 1, 2024 … … The transaction is immediately accretive to Devon’s key per-share financial measures, including earnings, cash flow, free cash flow and net asset value. The assets were acquired at less than 4-times EBITDAX, with an estimated free cash flow yield of 15 percent at an $80 WTI oil price.” Devon Energy – Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. Devon Energy EnCap Investments L.L.C Grayson Mill Energy
United States $29 Billion Oil Company Devon Energy to Buy Williston Basin Assets from Grayson Mill Energy for $5 Billion with $3.25 Billion in Cash & $1.75 Billion by Issuing New Shares, Grayson Mill Energy is Owned by Private Equity Group EnCap
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Top U.S. energy companies last year paid out more of their earnings to shareholders than they invested in new oil and gas fields for the first time, according to a newly released report. #energy #oil #offshore #oilandgas
US Energy Firm Payouts to Oil Investors Top Exploration Spending for First Time
oedigital.com
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