CrownRock LP
Transactions
BreitBurn Energy Closes Permian Acquisitions For $302 Million
BreitBurn Energy Closes Permian Acquisitions For $302 Million
BreitBurn Energy Partners Closes Permian Basin Acquisition
BreitBurn Energy Partners Closes Permian Basin Acquisition
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New Financings
Priced a private offering of 5.000% senior unsecured notes due 2029. CrownRock, an oil and gas producing…
Pricing a private offering of $185 million aggregate principal amount of 5.625% senior notes due 2025 at…
Priced a private offering of $1 billion principal amount of 5.625% senior notes due 2025. The notes will…
Completed its offering of 7.125% senior unsecured notes due 2021. Proceeds will be used to fund its…
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News
Barnett & Beyond: Marathon, Oxy, Peers Testing Deeper Permian Zones
Marathon Oil, Occidental, Continental Resources and others are reaching under the Permian’s popular benches for new drilling locations. Analysts think there are areas of the basin where the Permian’s deeper zones can compete for capital.
Is Double Eagle IV the Most Coveted PE-backed Permian E&P Left?
Double Eagle IV is quietly adding leases and drilling new oil wells in core parts of the Midland Basin. After a historic run of corporate consolidation, is it the most attractive private equity-backed E&P still standing in the Permian Basin?
Mighty Midland Still Beckons Dealmakers
The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
ONEOK CEO: ‘Huge Competitive Advantage’ to Upping Permian NGL Capacity
ONEOK is getting deeper into refined products and adding new crude pipelines through an $18.8 billion acquisition of Magellan Midstream. But the Tulsa company aims to capitalize on NGL output growth with expansion projects in the Permian and Rockies.
EIA: E&P Dealmaking Activity Soars to $234 Billion in ‘23
Oil and gas E&Ps spent a collective $234 billion on corporate M&A and asset acquisitions in 2023, the most in more than a decade, the U.S. Energy Information Administration reported.
Occidental to Divest Some Permian Assets after Closing CrownRock Deal
Occidental CEO Vicki Hollub said plans to divest non-core Permian assets would come after closing the pending acquisition of CrownRock — but reports have since emerged that the company is considering selling its share of Western Midstream Partners, valued at about $20 billion, according to Reuters.
Report: Occidental Eyes Sale of Western Midstream to Reduce Debt
Occidental is reportedly considering a sale of pipeline operator Western Midstream Partners as the E&P works to close a $12 billion deal in the Permian Basin.
4Q Deal-Making Was $144B; What’s Next?
U.S. takeout targets are few now. Operators may go abroad to add reserves, according to Enverus. Private E&Ps may pick up offshoots from portfolio pruning.
After Record Year, Permian Basin Set for Even More M&A in 2024
The big have grown bigger and Tier 1 acreage is even pricier in America’s hottest oil basin.
Shale Outlook: Scarce Inventory to Drive Upstream M&A in ‘24
Permian Basin well productivity has trended down. Top-tier drilling locations are scarce. Capital is at a premium. E&Ps need low-cost inventory and scale, and they’re willing to pay big bucks to get them.
Big Oil Enters 2024 Strengthened by Shale M&A
Following M&A in 2023, four companies are now positioned to control about 58% of future production in the Permian Basin.
Fury Road: Will $450MM Battalion M&A Fuel More Go-private Deals?
Delaware Basin E&P Battalion Oil is being acquired in a go-private transaction by a newly formed E&P Fury Resources. Could go-private sales become more common for small E&Ps with limited runway in the public markets?
Analysis: Will $2.7B Tokyo Gas-Rockcliff Deal Reopen Natgas M&A?
The Lower 48 has seen a whirlwind of oil and gas M&A this year, including a historic volume of transactions across the Permian Basin. After Tokyo Gas Co.’s $2.7 billion bid to acquire Haynesville E&P Rockcliff Energy II, could the window for natural gas deals be reopening?
Analysts: Will Occidental Sell in GoM, Rockies After $12B Permian Deal?
As Occidental spends $12 billion to add scale in the Midland Basin, analysts wonder if the E&P will divest assets in the Gulf of Mexico, the Rockies or other parts of its portfolio.