This is your Hart Energy Live A&D Minute, powered by the SUPERDug Conference and Exhibition May 22nd through the 24th in Fort Worth.
Spanish energy company Repsol sold a 25% stake in its global upstream business to EIG Global Energy Partners for $4.8 billion. Repsol Upstream’s assets total more than 600,000 boe/d of production in 15 countries, including the U.S. Repsol and EIG say they plan to list the company in the U.S. in 2026.
Expanding its footprint in the North Sea, Norway’s Equinor is acquiring Suncor Energy’s U.K. business for $850 million, which adds to Equinor's production and aids Suncor in reducing net debt and meeting shareholder return targets. Are there more international deals on the way?
Bayou Bend CCS is expanding the CO2 storage capacity for the Texas Gulf Coast project in a big way. The joint venture between Chevron, Talos Energy and Carbonvert purchased over 100,000 new onshore acres east of Houston. The expanded Bayou Bend project now has around 140,000 acres of pore space to permanently store 1 billion metric tons of CO2. Is the Gulf Coast the new hub for low-carbon projects?
That's your Hart Energy Live A&D Minute, powered by DUG Haynesville Conference March 28th and 29th in Shreveport. Watch new A&D Minute episodes every Wednesday and sign up for our A&D Watch newsletter at hartenergy.com/deals.
Recommended Reading
Ithaca Energy to Buy Eni's UK Assets in $938MM North Sea Deal
2024-04-23 - Eni, one of Italy's biggest energy companies, will transfer its U.K. business in exchange for 38.5% of Ithaca's share capital, while the existing Ithaca Energy shareholders will own the remaining 61.5% of the combined group.
Triangle Energy, JV Set to Drill in North Perth Basin
2024-04-18 - The Booth-1 prospect is planned to be the first well in the joint venture’s —Triangle Energy, Strike Energy and New Zealand Oil and Gas — upcoming drilling campaign.
EIG’s MidOcean Closes Purchase of 20% Stake in Peru LNG
2024-04-23 - MidOcean Energy’s deal for SK Earthon’s Peru LNG follows a March deal to purchase Tokyo Gas’ LNG interests in Australia.
Equinor Acquires Stake in Standard Lithium Smackover Projects
2024-05-08 - Equinor’s transaction, completed effective May 7, includes interests in Standard Lithium’s flagship South West Arkansas Project and East Texas properties.
Crescent Point Divests Non-core Saskatchewan Assets to Saturn Oil & Gas
2024-05-07 - Crescent Point Energy is divesting non-core assets to boost its portfolio for long-term sustainability and repay debt.