General News | Deals - Acquisition, Mergers, Divestitures
BP Finalizes Acquisition of BHP Assets; Renames Unit
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BP has closed on its $10.5B acquisition of BHP Billiton's assets and has subsequently renamed the unit BPX Energy.
The main assets included in the transaction.
- Permian: 83,000 acres with c 3,400 gross drilling locations in the liquids-rich Delaware sub-basin of the Permian in West Texas. Multiple zones provide a deep and highly-economic inventory for future drilling and significant opportunities for application of BP’s industry-leading drilling techniques. Current production, c.40,000 boe/d, c.70% liquids.
- Eagle Ford: 194,000 acres with 1,400 gross drilling locations in both the liquids-rich Karnes Trough and Eagle Ford wet gas window in South Texas. These present further opportunities for application of leading drilling techniques. There are significant opportunities for cost reduction through synergies with existing BP operations. Current production, c.90,000 boe/d, c.70% liquids.
- Haynesville: 194,000 acres with 720 gross drilling locations in East Texas and Louisiana. The additions will double BP’s existing Haynesville production, more than triple its acreage position and provides opportunity to capture economies of scale. Current production, c.60,000 boe/d, all gas.
Recent Deals/Transactions
| Date Annouced | Category | Headline | Buyer(s) | Seller(s) | Value ($mm) |
|---|---|---|---|---|---|
| 02/12/2024 | E&P | Diamondback To Acquire Endeavor Energy In $26 Billion Transaction |
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| 02/07/2024 | E&P | California Resources To Acquire Aera Energy For $2.1 Billion |
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| 01/15/2024 | E&P | Talos Acquires QuarterNorth Energy For $1.2 Billion |
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| 01/11/2024 | E&P | Chesapeake To Acquire Southwestern Energy |
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| 01/11/2024 | E&P | Prairie Operating Bolt-On DJ Basin Assets From Nickel Road |
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| 01/04/2024 | E&P | APA Corp to Acquire Permian Pure Player- Callon In All Stock Deal |
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| 12/15/2023 | E&P | TG Natural Resources To Acquire backed-Rockcliff Energy II For $2.7 Billion |
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| 12/15/2023 | E&P | Fury Resources Takes Battalion Private In Transaction Worth $450 Million : Map |
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| 12/11/2023 | E&P | Oxy Acquires Midland Basin Juggernaut For $12 Billion |
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| 11/21/2023 | E&P | Northern Oil Acquires Additional Permian Working Interest; Enters Utica |
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| Total |
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