mergers and acquisitions

With $9.6 billion in assets in the market, the focus is shifting from who is exiting Southeast Asia to who is positioning for entry through acquisition, according to Rystad Energy.

Transaction adds 90,000 net acres and 68,000 BOE/D of production as Crescent expands its South Texas footprint.

The deal adds 40,000 B/D of production and expands Cenovus’ SAGD footprint with three Alberta assets.

The Federal Reserve Bank of Dallas’ third-quarter energy survey reflects industry views on the drawdown of the US Strategic Petroleum Reserve, the outlook for Persian Gulf crude exports, and expectations for oil prices.

EY reports an 11% decline in reserve additions and the first sub-100% reserve replacement ratio since 2021, even as crude output climbed.

Superior seeks to expand its international footprint through the acquisition, which is reportedly valued at $1.2 billion.

By acquiring 100% of Ventura’s outstanding shares, SED Energy Holdings would scale its business into a combined $1 billion company backed by a $1.3 billion contract backlog focused on deepwater drilling, shallow-water tender rigs, and seismic acquisition.

DNO outbid Genel Energy for the deal, which Genel said it may challenge, according to a filing with the London Stock Exchange.

The deal hands Diversified nearly 500 gross operated wells producing 68,000 BOE/D.

Oil prices are high, but spending has not caught up—yet. Meanwhile, exploration strategies are changing around the world toward a lower-risk model, and the frenzied pace of US M&A has very much cooled off.