Deals & Trends

WPX Energy and Bill Barrett are among E&Ps actively divesting assets to pay off debt, pay for their own acquisitions or focus on core plays. Other companies are trying to buy, but continue to see private equity beat them out.

Since August, RSP Permian’s acquisitions have added net production of 3,500 boe/d, 277 net horizontal locations and 47,000 net effective horizontal acres while raising liquidity enough to offset overspending.

In today’s tough times, the midstream sector still offers E&Ps with infrastructure an arbitrage opportunity. E&Ps are moving to capture step-ups in valuation by spinning off or selling midstream assets.

In its 41-year history, Simmons has executed more than 830 strategic advisory transactions and 330 private and public financings with a total value of about $260 billion.

Marathon Petroleum increases its cash offer to MarkWest—again—as a “best and final” offer as it tries to entice the MLP’s unitholders to vote in favor of selling the company. 

Devon Energy’s offshoot will purchase Apache’s Deadwood gas facility interests, upping its net processing capacity to 343 MMcf/d in the Permian Basin. EnLink has invested $1.5 billion in the area.