Top Stories You Missed Last Week June 24 - 28

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Happy Monday!

Last week, E&Ps continued to strike deals, a pair of IPOs launched?and service companies continued to weather a rapidly changing landscape.?Find out more below.

SM Energy to Buy XCL Resources in $2.55B Entry into Uinta Basin

SM Energy Company has agreed to acquire Uinta Basin operator XCL Resources in a three-way deal that includes non-op E&P NOG - Northern Oil & Gas, Inc. (NYSE: NOG) buying a 20% interest in XCL in deal valued at $2.55 billion.

SM Energy will purchase XCL, a private E&P backed by EnCap Investments LP and Rice Investment Group. Northern will concurrently buy a 20% undivided interest in XCL’s oil and gas interests for $510 million, bringing SM Energy’s net purchase price to $2.04 billion.

Bob Simpson-led TXO Partners Buys Williston Basin Assets for Nearly $300MM

TXO Partners , an upstream MLP founded by XTO Energy executive Bob Simpson, is acquiring assets in the Williston Basin—a region the XTO team knew quite well.

Industry Consolidation Reshapes List of Top 100 Private Producers in the Lower 48

The historic consolidation trend across the U.S. E&P sector during the last 18 months is reshaping the landscape beyond the nameplate megamergers such as 埃克森美孚 's acquisition of Pioneer Natural Resources Company . Private family companies founded by original wildcatters such as Endeavor Energy Resources, LP ?and CrownQuest Operating, LLC are coming off the market to join the likes of Diamondback Energy and Oxy .

Among the net effects of $200 billion in M&A, a number of private companies have fallen off the list of Top 100 private companies compiled by Enverus in an exclusive partnership with Oil and Gas Investor (OGI). A slew of newcomers to the Top 100 have taken their places. ??

Private E&Ps Pursue Dollars Amid Change

Producers contend with roiled capital markets as consolidation alters the strategic landscape.

The dividing line between the private and public capital markets has blurred for upstream oil and gas companies in need of financing. This new reality is reshaping the world of private capital, private equity providers, and the producers they back.?

At the same time, the onshore U.S. upstream industry is experiencing a fundamental reorientation as consolidation alters the landscape. Upstream operators looking to grow and thrive in such an environment must contend with these realities with a financing toolkit that is itself being reforged.

‘Too Many’ Players: Oilfield Services Feel Permian M&A Crunch—Dallas Fed

After a historic run of E&P consolidation, oilfield services and equipment providers in the Permian are competing to woo a dwindling number of upstream customers, according to the second-quarter Dallas Fed Energy Survey.

Hart Energy Webinars - Data Integration in Mergers and Acquisitions: The Key to Unlocking Value

In today's rapidly evolving oil and gas landscape, successful M&A hinges on the ability to quickly and effectively integrate data assets. Join us on?Thursday, July 18, 2024, at 11:00 AM CDT?for an in-depth discussion on how to leverage data integration as a strategic tool for maximizing the value of your M&A transactions.

PRESENTED BY? W Energy

LandBridge Chair: In-basin Data Centers Coming for Permian NatGas

Newly public Delaware Basin surface-owner LandBridge Co. has a 100-year lease agreement with one developer that could result in ground-breaking in two years and 1 GW in demand.

Beetaloo Juice: US Shale Explores Down Under

Tamboran Resources Corporation has put together the largest shale-gas leasehold in Australia’s Beetaloo Basin, with plans for a 1.5+ Bcf/d play. Behind its move now to manufacturing mode are American geologists and E&P-builders, a longtime Australian wildcatter, a U.S. shale-rig operator, and a U.S. shale pressure-pumper.

Thanks for Reading,

Hart Energy Staff