General News | Deals - Acquisition, Mergers, Divestitures
Amplify Energy, Midstates Finalize Merger Deal; Talk 2019 Spending Outlook
Amplify Energy and Midstates Petroleum have finalized their all-stock merger deal. The agreement was initially announced back in early May 2019.
Terms of the deal were not disclosed.
Pro Forma Assets:
Total position of ~218,000 net acres
- MissLime: 100,000 net acres
- Ark-La-Tex: 93,300 net acres
- Eagle Ford: 750 net acres
- Rockies CO2: 7,000 net acres
- California Offshore: 17,000 net acres
Total production of ~40.1 MBOEPD
- MissLime: 16.4 MBOEPD
- Ark-La-Tex: 15.5 MBOEPD
- Eagle Ford: 16.4 MBOEPD
- Rockies CO2: 4.1 MBOEPD
- California Offshore: 3.1 MBOEPD
Operations and Capital Spending Outlook
In 2H 2019, we anticipate capital spending of approximately $38 million across our operating areas. Approximately 53% (or $20 million) of this capital will be invested in Bairoil, primarily to fund the plant expansion project, which is expected to come online in the fourth quarter of 2019. The expansion will provide additional CO2 recycling capacity and allow currently shut-in wells to be turned back online, increasing oil production by approximately 900 Boe/d.
Recent Deals/Transactions
Date Annouced | Category | Headline | Buyer(s) | Seller(s) | Value ($mm) |
---|---|---|---|---|---|
02/12/2024 | E&P | Diamondback To Acquire Endeavor Energy In $26 Billion Transaction | |||
02/07/2024 | E&P | California Resources To Acquire Aera Energy For $2.1 Billion | |||
01/15/2024 | E&P | Talos Acquires QuarterNorth Energy For $1.2 Billion | |||
01/11/2024 | E&P | Chesapeake To Acquire Southwestern Energy | |||
01/11/2024 | E&P | Prairie Operating Bolt-On DJ Basin Assets From Nickel Road | |||
01/04/2024 | E&P | APA Corp to Acquire Permian Pure Player- Callon In All Stock Deal | |||
12/15/2023 | E&P | TG Natural Resources To Acquire backed-Rockcliff Energy II For $2.7 Billion | |||
12/15/2023 | E&P | Fury Resources Takes Battalion Private In Transaction Worth $450 Million : Map | |||
12/11/2023 | E&P | Oxy Acquires Midland Basin Juggernaut For $12 Billion | |||
11/21/2023 | E&P | Northern Oil Acquires Additional Permian Working Interest; Enters Utica | |||
Total |