Deals - Acquisition, Mergers, Divestitures | Exclusives / Features
A Look at M&A Activity: Q2 2019
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Mergers & Acquisitions Update (Q2 2019)
Q2 was a blockbuster quarter for M&A, and it's primarily thanks to the multi-billion Oxy/Anadarko deal.
The quarter saw deal flow rise to $43 billion (up from a measly $1.8 billion in 1Q19). The Oxy/Anadarko deal accounted for 91% of the deal flow in the quarter.
The top deals in the quarter were Oxy/Anadarko's merger, followed by Comstock's acquisition of Covey Park.
Here are the biggest deals of Q2:
Deal flow by Region / Play
The Permian continues to be the main driver of deal flow, however the Haynesville and GOM also saw meaningful activity in the quarter.
Who is Buying?
Buyers in this market continues to be public E&P companies, despite the almost closure of the equity markets. Most deals are being financed by extraordinary measures.
Who are the Sellers?
Again, the results are somewhat skewed due to only one deal accounted for 90% of the deal flow during the quarter.
Recent Deals/Transactions
| Date Annouced | Category | Headline | Buyer(s) | Seller(s) | Value ($mm) |
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| 02/26/2026 | E&P | Diversified Energy Extends East Texs Footprint in $245MM Sheridan Deal |
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| 02/18/2026 | E&P | SM Energy Sells Eagle Ford Asset for $950 Million |
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| 02/17/2026 | E&P | Ovintiv Sells Anadarko Assets for $3 Billion |
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| 02/02/2026 | E&P | Vista Energy Acquires Equinor Non-Working Interest In Vaca Muera |
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| 02/02/2026 | E&P | Devon Acquires Coterra Energy; Bulk Up on Permian, Adds Gas Bank |
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| 01/16/2026 | E&P | Mitsubishi’s Strategic Entry into U.S. Shale with Aethon’s Haynesville Platforms |
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| 12/22/2025 | E&P | Harbour Energy Enters GOM; Buys LLOG |
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| 12/18/2025 | E&P | JAPEX Secures First U.S. Operated Position in $1.26B DJ Basin Acquisition of Verdad Resources |
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| 12/08/2025 | E&P | Antero Resources Acquires HG Energy II for $3.9B |
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| 12/08/2025 | E&P | Infinity Natural and Northern Oil & Gas Acquire Antero's Ohio Utica for $1.2B |
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