Global upstream M&A in brief: 2022 archive

Table of contents

• Regional activity
• PetroReconcavo expands its presence in the Reconcavo basin
• Global upstream M&A: 3 things to look for in 2023
• ADNOC acquires stake in OMV from Mubadala
• PTTEP exits Angola’s Block 17/06
• Serica set to acquire Tailwind Energy for £367 million
• PETRONAS to exit South Sudan
• Shell sells Sarawak Shell stakes to Sarawak State
• Crescent Point adds to its Kaybob Duvernay position
• Valeura Energy finds more value in Thailand
• Deal Pipeline: Eagle Ford consolidation preview
• Deal Pipeline: Eni reportedly eyeing up Neptune Energy
• Maurel & Prom acquires Wentworth Resources
• TotalEnergies sells its Dunga oil field stake in Kazakhstan and advances large onshore wind deal
• Regional activity
• Diamondback Energy acquires Lario Permian LLC for US$1.55 billion
• TotalEnergies and ConocoPhillips complete acquisition of Hess’ 8.16% interest in Libya’s Waha fields
• Perth Basin M&A: Beach pips Strike to Warrego
• Deal Pipeline: Brookfield and EIG propose US$12 billion Origin Energy takeover
• Marathon buys Ensign Eagle Ford assets
• Wintershall farms into Hokchi
• The ABC’s of (US) A&D
• Deal Pipeline: OMV receives unsolicited bid for stake in upstream business
• Deal Pipeline: Equinor reported as a potential bidder for CNOOC’s UK upstream business
• Continental Resources agrees to Hamm family take-private offer
• Deal Pipeline: Assala Energy on the market... soon?
• Diamondback rattles the M&A trend with FireBird purchase
• Third time's the charm for EIG's Australia LNG ambitions
• Waldorf enters the Netherlands with TAQA and Dana Petroleum deals
• Deal Pipeline: Chevron lists southern Delaware acreage for sale
• Q3 2022 quarterly review
• Regional activity
• Capricorn enters merger agreement with NewMed Energy
• Santos sells down stake in PNG LNG
• Hammerhead goes public in US$1 billion SPAC deal
• Origin continues move away from upstream with Beetaloo sale
• Tamarack Energy expands in the Clearwater play with acquisition of Deltastream
• Deal Pipeline: Shell and ExxonMobil to sell Dutch JV
• Petrobras divestment program taking a u-turn?
• Tullow and Capricorn merger hangs in the balance
• Repsol announces landmark sell-down of its upstream business
• EQT executes US$5.2 billion bolt-on acquisition
• Eni to acquire BP’s Algerian assets
• Equinor completes full exit from Russia
• Regional activity
• TotalEnergies to sell its stake in Russia’s Termokarstovoye gas condensate field
• Kiwetinohk consolidates in Placid Montney
• DNO set to acquire Cote d’Ivoire position
• Lime Petroleum acquires 10% stake in Yme from KUFPEC
• Deal or no deal? Nigeria’s regulator rebuts presidential consent of Seplat’s MPNU acquisition
• Devon Energy adds Eagle Ford acreage in US$1.8 billion deal
• Sval acquires Suncor's Norway portfolio
• Prime Infra acquires Shell’s 45% stake in Malampaya from Udenna Corporation
• ExxonMobil completes US$1.06 billion exit from Romania’s Neptun Deep megaproject
• Regional activity
• Jadestone takes bp stake in North West Shelf oil
• Strathcona acquires Serafina in US$1.8 billion private takeover
• Deal Pipeline: Serica Energy and Kistos reach stand-off over potential North Sea merger
• Deal Pipeline: ExxonMobil closes in on Iraq exit
• Deal Pipeline: Shell and ConocoPhillips reportedly eyeing GoM disposals
• Tellurian’s next Haynesville step
• VAALCO to merge with Egypt-focussed TransGlobe Energy Corporation
• Waldorf Production adds Alpha Petroleum to latest string of deals
• Deal Pipeline: TAQA looks to sell its Netherlands portfolio – who might buy?
• Russia takes first step towards Sakhalin-2 expropriation
• TotalEnergies to exit Kharyaga oil project in Russia
• Regional activity
• XTO Canada sold to Whitecap Resources for US$1.3 billion
• Shell acquires operated stake in Gulf of Mexico oil development
• Earthstone reaches critical Permian mass
• BW Energy snatches two clusters from Petrobras divestment plan
• Deal Pipeline: Continental Resources founder offers to take the company private
• Perenco to buy NewAge's stake in Etinde, Cameroon
• Cenovus and BP swap oil sands for offshore
• Devon Energy adds bolt-on in the Bakken
• Late-life oil asset sales continue in Thailand
• Deal Pipeline: Repsol reportedly in talks to sell 25% in its E&P unit
• Tullow and Capricorn to merge
• Regional activity
• Equinor exits all JVs in Russia
• Deal Pipeline: and then there were two – Tullow Oil in the hunt for SPDC
• Woodside shareholders approve BHP Petroleum merger
• Centennial and Colgate merge
• ExxonMobil to sell its Barnett shale portfolio for US$750 million
• Nigerian government rejects ExxonMobil’s US$1.3 billion sale of JV business to Seplat
• Equinor sells US$1 billion Norway asset package
• Wintershall Dea increases stake in Algeria’s Reggane Nord gas field
• SPAs signed for Sonangol’s asset sales
• ExxonMobil exits Romania
• Regional activity
• Deal Pipeline: TotalEnergies announces plans to sell onshore Nigerian assets
• Petrobras sells Albacora Leste to PetroRio for US$2.2 billion
• Navitas Petroleum steps up as operator of Sea Lion development
• Silverbow acquires Sundance and Sandpoint
• Sonangol's farm down process ignored by major players
• Ithaca Energy agrees to acquire Siccar Point for US$1.5 billion
• Deal Pipeline: CNOOC looks to exit UK upstream business
• Ithaca Energy buys Summit E&P’s North Sea business
• Q1 2022 quarterly review
• Regional activity
• Deal Pipeline: BP reportedly nearing sale of Algerian assets
• Eni and BP finalise new Angolan JV
• ONE-Dyas’s upstream exit begins with sale of its Norwegian business to Pandion Energy
• Regional activity
• Deal Pipeline: BP to exit Rosneft shareholding
• PDC acquires Great Western Petroleum
• ExxonMobil high-grades in Nigeria with a US$1.6 billion deal
• Seacrest buys Norte Capixaba Cluster and debuts as an operator in Brazil
• Deal Pipeline: will Waldorf acquire ONE-Dyas’ UK and Dutch business?
• Deal Pipeline: Shell seeks exit from UK Southern North Sea
• Glencore sells its stake in Russneft
• Eni and HitecVision take Var Energi public
• Civitas buys Bison O&G
• Earthstone continues to consolidate the southern Midland Basin
• Deal Pipeline: Chevron's interest in the NWS no longer for sale
• Deal Pipeline: NNPC seeks to raise US$5 billion of finance: Shell JV in its sights?
• ConocoPhillips high-grades its Permian position through legacy sale
• Petrobras sells Potiguar cluster for US$1.38 billion
• Regional activity
• TotalEnergies farms down interest in Greater Laggan Area to Kistos
• Chesapeake Energy acquires Chief Oil and Gas for US$2.65 billion
• Vista grows its footprint in the liquids windows of Vaca Muerta
• TotalEnergies and INPEX high-grade in Angola
• Deal Pipeline: ExxonMobil marketing its Montney and Duvernay position
• Enterprise acquires Navitas Midstream in US$3.25 billion deal
• Repsol beefs up its Marcellus gas portfolio

Tables and charts

This report includes 55 images and tables including:

• December 2022 deal count compared to historical benchmarks
• December 2022 deal spend compared to historical benchmarks (excludes US$50bn+ megadeals)
• Global M&A – November 2022

What's included

This report contains:

• DOWNLOAD Monthly Market Update December 2022.xlsm

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