mergers and acquisitions
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The Houston-based oil and gas producer says the latest transaction moves its divestment sum past $9 billion. -
Tourmaline Oil Corp. said it has agreed to buy smaller Canadian producer Black Swan Energy.
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The producers operate conventional and unconventional assets across the US Lower 48 and produced a combined 111,000 BOE/D in the first quarter of 2021.
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The all-stock transaction is expected to bolster the newly created operator's production profile to around 160,000 BOE/D.
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The deal is expected to bolster Southwestern's annual production to more than 4 Bcf/D.
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Pembina and Kinder Morgan both add substantial infrastructure in separate deals valued at a combined $8 billion.
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The latest deal bucks a trend that has been dominated by moves to consolidate assets within a single basin by creating a multibasin company that its leaders say is better prepared for the "commodity roller coaster."
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The deal expands the largest gas producer's operations into the core of the northeast Marcellus Shale.
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Oasis Petroleum announced this week that it is acquiring the position from Diamondback Energy.
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The deal gives Houston-based Vencer Energy 44,000 acres and 40,000 BOE/D of baseline production.
