mergers and acquisitions
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The two Houston area-based companies have struck an agreement valued at almost $1.6 billion. -
The Houston-based independent will become the top producer in the Eagle Ford Shale with an output of 400,000 BOE/D and is eyeing 1,000 wells to refracture.
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The acquisition of SilverBow Resources gives Crescent Energy a pro forma output of 250,000 BOE/D.
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The new AIQ ownership structure will see Presight acquire 51% shareholding, with ADNOC retaining 49% and receiving a 4% stake in Presight. AIQ will continue to operate as a standalone company.
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Losing drill-hungry independent and private companies in the region to robust M&A will mean an activity slowdown that is expected to impact volumes coming from the nation’s largest oil field.
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The second major deal in the US proppant industry this year will see US Silica go forward as a private company.
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The US upstream sector began 2024 with $51 billion in mergers and acquisitions though Enverus outlines why the dealmaking may slow down.
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As the biggest US companies grow bigger, the advantage of scale becomes clearer.
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The world's largest oilfield service company made the deal to expand its exposure to the less cyclical production segment of the upstream business.
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The merged companies will emerge as a new company, Innovex International, increasing its global scale and footprint in growing markets.
