Posted on February 19, 2025
Crude Oil, Mergers & Acquisitions, Natural Gas, Natural Gas Liquids - NGLs, Permian

The wildly successful Double Eagle Energy last May set tongues wagging on news it was exploring a sale of its Permian assets that could potentially fetch $6.5 billion. Three years into its iteration as Double Eagle IV, co-founders and co-CEOs Cody Campbell and John Sellers had built one of the most coveted, privately held positions in the Midland. This, after selling Double Eagle III in 2021 to Pioneer Natural Resources for $6.4 billion. ...

by
0
Posted on February 13, 2025
Anadarko Basin, Company Spotlight, Crude Oil, Eagle Ford, Mergers & Acquisitions, Mid-Continent

In what was described as a “surprise move” by Okla. City-based Devon Energy back in 2022, the company made a bolt-on acquisition that further expanded its Eagle Ford position with the purchase of Denver-based Validus Energy. The $1.8 billion deal included 42,000 net acres, 35 MBOED (70% oil), 350 repeatable drilling locations, and 150 refrac candidates. In an epic score, Validus pocketed double the price it paid for those assets just a year before. While it might’ve been a see-you-later-bye to South Texas, the company’s exit there hardly marked the end of Validus....

by
0