EnCap's $1.9B Bullfight with El Matador

Matador wrangles $1.9B EnCap assets. Also, Sixth Street's strategic expansion and IEA's surplus prediction.

Author

Rob Quigley
June 13, 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:

Matador Resources acquires Permian assets from EnCap for $1.9 billion, marking a significant industry shift.

Matador Agrees to Buy Permian Oil Assets Worth $1.9 Billion

Oil producer Matador Resources Co. agreed to buy assets in the Permian Basin from a portfolio company of EnCap Investments LP for $1.9 billion cash, the latest in a series of shale industry tie-ups.

https://www.bloomberg.com/news/articles/2024-06-12/matador-to-buy-permian-oil-assets-from-encap-for-1-9-billion?srnd=phx-deals


The IEA forecasts a major oil surplus by 2030 due to slowing demand growth and surging supply IEA.

Sixth Street Expands with $500M Permian and Anadarko Purchase Hart Energy.

Advantage Energy's $450M Acquisition Bolsters Montney Position BOE Report.

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

  • The IEA forecasts a major oil surplus by 2030 due to slowing demand growth and surging supply IEA.

  • Matador Resources acquires Ameredev's assets from EnCap for $1.6 billion Houston Business Journal.

  • Chevron's midstream unit focuses on growth with new investments Houston Business Journal.

  • EQT restarts curtailed gas production amid higher prices BOE Report.

  • TotalEnergies awards Wood engineering gas integration projects, boosting efficiency JPT.

  • Exxon VP Craig Morford retires, successor yet to be named Hart Energy.

  • Natural gas prices rise 7% on forecasts of extreme summer heat Investing.

  • European gas prices climb after Uniper cuts ties with Gazprom Rigzone.

  • Potential oil discovery offshore South Korea spurs new hope World Oil.

  • Wintershall exits Abu Dhabi with sale of Ghasha concession World Oil.

  • Natural gas production from new wells reduces risk for old assets The Observer.

  • ADNOC bets on gas with approval of Ruwais LNG project World Oil.

  • Standard Chartered Oil markets face significant supply deficits OilPrice.

  • Hilcorp-only bidder in Cook Inlet oil and gas lease sale Peninsula Clarion.

  • Japan's ENEOS secures oil and gas assets in Southeast Asia Pittsburgh Post-Gazette.

  • Goldman: Oil demand to lift Brent crude to $86 Economic Times.

  • Viasat launches new service for remote oil and gas customers World Oil.

  • Gas prices impact international energy agency outlook for 2030 CBS News.

  • Oil and gas industry hopes for AI generative tools in exploration Barrons .

Deal Flow

M&A/Investment

  • Matador Resources acquires Permian assets from EnCap for $1.9 billion Bloomberg .

  • Sixth Street buys Permian and Anadarko minerals for $500 million Hart Energy .

  • Advantage Energy acquires Charlie Lake, Montney assets for $450 million BOE Report .

  • SBM Offshore acquires Angolan FPSOs from Sonangol for $40 million World Oil .

  • Sintana Energy closes stake acquisition in Namibia blocks Rigzone.

  • Petrobras and Shearwater form seismic partnership for exploration World Oil.

IPO/Direct Listing/Issuances/Block Trades

  • Berkshire Hathaway buys nearly $257 million more shares of Occidental Rigzone.

Debt

  • No deals match this criteria.

SPAC

  • No deals match this criteria.

Bankruptcy/Restructuring/Distressed

  • No deals match this criteria.

Fundraising

  • No deals match this criteria.

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