$1.1B for 49 Locations

Vital And NOG takeout Vortus-backed Delaware producer Point Energy for $1.1B; Goldman Sachs sees limited 2025 oil supply growth for next US president; TotalEnergies working on another acquisition in Texas; OPEC oil reserves in decline.

Author

Rob Quigley
July 29, 2024

by VSO Petroleum Consultants. Oil and Gas industry news for those in the deal flow (Investors and A&D Professionals). Your daily source for the latest A&D/M&A news, industry news, and expert interviews.

First Things First:

Vital Energy buys Delaware producier Point Energy for $1.1 billion (Vortus backed); Northern Oil to take 20% stake.

Vital Energy Nearing $1.1 Billion Deal to Acquire Point Energy - Sources

Vital Energy is reportedly close to finalizing a deal to acquire Point Energy for approximately $1.1 billion, according to sources familiar with the matter. The acquisition aims to strengthen Vital Energy's position in the energy sector, expanding its portfolio through this significant financial transaction.

www.reuters.com/markets/deals/vital-energy-nearing-deal-buy-point-energy-11-billion-sources-say-2024-07-28

Goldman Sachs sees limited 2025 oil supply growth for next US president.(Goldman Sachs)

TotalEnergies working on another acquisition in Texas.(Hart Energy)

OPEC oil reserves in decline.(OilPrice)

VSO is the go-to consulting firm for buy-side technical due diligence. We can handle all your technical evaluations or can be your spare capacity when you need overflow help. If you’re in the deal flow, let’s work together.

Daily Headlines

  • Goldman Sachs: Next US president will have limited tools to boost 2025 oil supply.(Goldman Sachs)

  • TotalEnergies working on another acquisition in Texas.(Hart Energy)

  • Energy exploration surges despite promised transition.(Energy Mix)

  • OPEC oil reserves in decline.(OilPrice)

  • California's fracking ban goes into effect in October.(CapRadio)

  • Trump presidency could lower oil prices.(Rigzone)

  • Kamala Harris fracking ban reversal fuels oil and gas debate.(Fortune)

  • Republican states ask Supreme Court to save fossil fuel power plants.(Rigzone)

  • Venezuela nat gas output has droped by 50% in 8 yrs.(OilPrice)

  • One killed, seven injured in blast at Russian oil and gas field.(Al Arabiya)

Deal Flow

M&A/Investment

  • Vital Energy And NOG takeout Vortus-backed Delaware producer Point Energy for $1.1B (80/20 split).(Reuters)

  • Noble Corp.'s $1.6 billion acquisition of Diamond Offshore clears key antitrust hurdle.(World Oil)

IPO/Direct Listing/Issuances/Block Trades

  • No deals that match this criteria.

Debt

  • Pieridae Energy announces sale of Goldboro, equity financing, and repayment of bridge loan.(BOE Report)

SPAC

  • No deals that match this criteria.

Bankruptcy/Restructuring/Distressed

  • No deals that match this criteria.

Fundraising

  • No deals that match this criteria.

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