Global upstream M&A in brief: 2021 archive

Table of contents

• Regional activity
• Aker BP buys Lundin Energy to create 'super' Norwegian independent
• Cenovus sells Tucker oil sands asset for Cdn$800 million
• ExxonMobil, Petronas sell Chad and Cameroon to Savannah
• Centrica-owned Spirit Energy exits Norway to Sval Energi
• BP and SOCAR part pre-empt LUKOIL’s US$2.25 billion Shah Deniz deal with PETRONAS
• ConocoPhillips swaps Indonesian gas for Australian LNG
• JERA buys into high emissions Barossa gas project
• Mitsui consolidates ownership of MOECO
• BP acquires JX Nippon’s interests in the Andrew Area
• PE-backed NEO Energy strikes again as JX Nippon exits the UK
• Regional activity
• Deal Pipeline:Neptune requests takeover bids and Lundin mulls over potential sale
• Equinor exits Ireland
• JX Nippon exits UK upstream
• ConocoPhillips and TotalEnergies acquire Hess' stake in Libya's Waha concessions
• Paloma buys out Goodrich for US$480 million
• GeoPark divests all operated blocks in Argentina
• Neptune Energy offloads non-core asset stakes to M Vest and OKEA in Norway for US$35 million
• Delek-owned Ithaca acquires Marubeni's UK portfolio
• Aker and BP sell 5% in Aker BP through private placement
• Tullow increases Ghana interest
• Glencore finally agrees to sell its Chad assets to Perenco
• Southwestern double-dips into the Haynesville
• Continental enters the Permian with US$3.25 billion Pioneer deal
• Regional activity
• Lundin acquires OMV’s 25% interest in Wisting in the Norwegian Barents Sea
• Deal Pipeline: Shell and ExxonMobil’s NAM JV to offload non-core Netherlands fields
• ExxonMobil agrees terms with Romgaz to sell its stake in Romania’s giant Neptun Deep project
• EIG buys 10% of APLNG from Origin
• Deal Pipeline: Posco makes US$626 million takeover bid for Senex
• Oxy sells Ghana assets for US$750 million
• SilverBow bolts on its largest Eagle Ford acquisition yet
• PETRONAS sells Shah Deniz stake to LUKOIL for US$2.25 billion
• Comstock swaps oil for gas
• Deal Pipeline: ExxonMobil to exit its Nigerian shallow water JV
• Q3 2021 quarterly review
• Deal Pipeline: Harbour Energy explores options to exit the Sea Lion project
• ConocoPhillips buys Shell's Permian position for US$9.5 billion
• Deal Pipeline: Neptune looking to Harbour for exit?
• Deal Pipeline: Chevron selling Eagle Ford assets
• Delek Drilling sells its remaining stake in Tamar to Mubadala
• Deal Pipeline: TAQA to sell oil and gas assets?
• Regional activity
• Repsol exits Vietnam
• Woodside and BHP agree to merge oil and gas businesses
• SilverBow makes another Eagle Ford move
• Chesapeake acquires Vine Energy
• Santos and Oil Search merge to create Australia's new leading E&P
• Callon picks up Permian private player Primexx
• Regional activity
• Lime Rock acquires Loving County assets
• Equinor agrees swap deal with PE-backed Wellesley Petroleum in Norway
• Whiting consolidating into Williston
• Santos proposes Oil Search merger
• PennVirginiatoacquire Lonestar
• Déjà vu as TotalEnergies exits Kurdistan for the second time
• Compañía General de Combustibles (CGC) acquires Sinopec Argentina
• LUKOIL acquires in Mexico in the country’s largest upstream deal
• Shell pre-empts Tailwind’s Shearwater deal
• Petrobras successfully divests Polo Alagoas to Petromais
• Global M&A: H1 2021 highlights
• Regional activity
• Petrobras successfully divests Polo Alagoas to Petromais
• Shell extends its position in Vaca Muerta's black oil window
• Tourmaline acquires Black Swan
  • 11 June 2021
• Oxy divests non-core Permian acreage for US$508 million
• Rosneft sells a further 5% in Vostok Oil
• Colgate acts fast acquiring more Permian assets
• KKR's Independence goes public with a deal to do more deals
• Deal Pipeline:Savannah Energy in exclusive talks to acquire ExxonMobil’s Chad & Cameroon businesses
• Repsol high-grades in South-Eastern Asia
• More L48 shale gas consolidation as SWN steps out from northeast
• Colgate buys Luxe's Permian assets as NGP rolls up portfolio companies
  • Regional activity
• Cimarex and Cabot combine in merger of equals
• Cue Energy and NZOG enter Australia’s Northern Territory
• Mercuria-backed Tailwind buys Shearwater stake from BP
• Oasis exits the Permian
• Shell exits Philippines with sale of Malampaya gas fields
• Eni and BP consider merging their Angolan portfolios
• Tourmaline continues Montney shopping spree
  • 19 May 2021
• Repsol retreats from Russia
• Bonanza Creek–Extraction merger creates new DJ Basin giant
• Laredo acquires more Howard County acreage, sells legacy assets
• EQT continues its Marcellus consolidation with US$3 billion Alta takeover
• Oasis buys Bakken assets from Diamondback
• Deal Pipeline: Chesapeake selling Eagle Ford?
• Vitol's Vencer makes Permian splash with Hunt Oil acreage
• Jadestone enters Malaysia through SapuraOMV's PM assets
  • Regional activity
• EnQuest snaps up Bentley - one of the UK’s heaviest oil fields - from Whalsay Energy
• Dana Gas’ sale of Egyptian assets falls through
• Deal Pipeline: Mubadala to acquire Delek Drilling’s stake in Tamar
• EOG buzzes in to Australia for Melbana's Beehive
• Second farm-out agreement falls through at Ireland’s Barryroe oil field
• Tamarack Valley acquires Anegada Oil Corp
• Hess trims its Bakken position
• Romgaz submits sole bid for ExxonMobil’s stake in Romania’s giant Neptun Deep project
• Tailwind Energy acquires Decipher Energy in sixth UK deal of 2021
• Whitecap Resources expands in Montney with a Cdn$300 million Kicking Horse deal
  • 5 April 2021
• Q1 2021 quarterly review
  • Regional activity
• PGNiG strikes again as INEOS exits Norway for US$615 million
• Ovintiv sells Eagle Ford asset for US$880 million
• Kistos enters Dutch upstream with maiden acquisition of Tulip Oil
• UK private equity consolidation sees NEO acquire Zennor for US$625 million
• Cairn sells UK assets to Waldorf
• Shell sells assets in Egypt’s Western Desert to Cairn and Cheiron
• Eni exits Pakistan
• ExxonMobil sold its stake in Lucius and Hadrian North in US Gulf of Mexico
  • Regional activity
• ExxonMobil sells UK asset package for more than US$1 billion
• Continental added PRB acreage
• LUKOIL pushes hard for Sangomar position with bid for FAR
• Shell and Ovintiv each exit Duvernay
• Spartan continues Canadian expansion
• Equinor backs out of the Bakken
• DNO acquires ExxonMobil’s stake in the Baeshiqa license, Kurdistan
• Panoro Energy acquires Tullow Oil assets in Equatorial Guinea and Gabon
• EnQuest buys Suncor's stake in Golden Eagle Area for US$325 million
• Surge grabs Grenadier and expands its Permian position
• KNOC set to sell North Sea asset package
• BP sells 20% stake in Khazzan: desperate times call for desperate measures
• ExxonMobil and Chevron reportedly held merger talks early last year
• Regional activity
• Beach buys Mitsui's Bass Basin interests
• Deal Pipeline: NEO in exclusive UK talks with ExxonMobil
• Heirs Holdings buys stake OML 17 (Nigeria) from Majors

Tables and charts

This report includes 44 images and tables including:

• December 2021 deal count compared to historical benchmarks
• December 2021 deal spend compared to historical benchmarks
• Santos Barossa capital expenditure profile

What's included

This report contains:

• Global upstream M&A in brief: 2021 archive

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• DOWNLOAD Monthly Market Update December 2021.xlsm

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