Wind Point Partners’ Post

Schlumberger (SLB) will acquire ChampionX Corporation (CHX) in an all-stock transaction. The aim is to provide integrated solutions throughout the entire production lifecycle, leveraging emerging technologies such as AI and autonomous operations. The acquisition reflects SLB's strategic shift towards focusing on the production phase of oil and gas operations, aligning with industry trends where opex (operational expenditures) are becoming increasingly significant compared to capex (capital expenditures). Schlumberger can leverage ChampionX's expertise and product offerings in production chemicals and automation technologies to enhance its own product portfolio. The price tag of $8.2 billion suggests a premium, indicating high expectations for the future returns on this investment.

Here we go again......First it was the Oilfield operators and now its the Service Companies. SLB acquires ChampionX and has re-entered the North American unconventional market SLB already a leader in Artificial Lift, now becomes the market leader in Oilfield Production. Where does this leave Halliburton? Will they acquire Baker Hughes and/or Liberty? https://lnkd.in/g7TYdUZR #technicalmarketing #marketintelligence

NEWS OF THE DAY! Enterprise Products Partners Boosts Portfolio with $375M Acquisition of Key Pipeline Assets from Western Midstream   1.     Enterprise Products Partners (NYSE: EPD) agreed to acquire interests in Whitethorn Pipeline Company and Enterprise EF78 from Western Midstream Partners (WES) for $375M in cash. 2.     The acquisition involves purchasing WES's 20% equity interest in Whitethorn, which owns the Midland-to-Sealy portion of the Midland-to-ECHO 1 crude oil pipeline, and WES's 25% stake in EF78, which owns natural gas liquids fractionators 7 and 8 in Mont Belvieu, Texas. 3.     With these acquisitions, Enterprise now holds 100% ownership of both assets. 4.     Additionally, EPD agreed to acquire WES's 15% interest in Panola Pipeline Company for $25M in cash. 5.     Panola Pipeline Company owns a 253-mile pipeline transporting mixed natural gas liquids from east Texas processing plants to various destinations, including Enterprise's NGL fractionation complex. =>Please follow Finplate and stay updated with the latest #mergersandacquisitions news. Thanks in advance. To read the news in detail, click below: https://lnkd.in/gpqbCXHy

Occidental Builds its Hub Club The week has been thick with acquisitions by producers and midstreamers eager to leverage their new investments as part of grander plans. Such is the case with Houston-based Oxy, which paints its future less as an E&P and more as a global carbon management company—and not just hopping on the decarbonization net-zero bus but driving it. Reese Energy Consulting today is following the latest from Oxy, which has added another critical component to achieve that mission with its $1.1 billion purchase of B.C.-based Carbon Engineering (CE) and its Direct Air Capture technology. Occidental through its 1PointFive subsidiary announced partnering with CE in June 2022 to build 70-135 DAC plants, each with the capacity to remove a megaton of C02 per year from the atmosphere. CE’s tech uses giant fans that act as vacuums to pull air into a processing facility where the C02 is separated using potassium hydroxide, then compressed and pipelined to a sequestered site. With five DAC hubs planned in Texas and La., Occidental is now constructing its first and biggest. Upon completion in mid-2025, Stratos will become the world’s largest DAC facility, designed to capture 500,000 tonnes of C02 per year. Stratos is also located a sneeze away from Oxy’s Permian operations in Ector County. 1PointFive last week received a $1.2 billion boost from Uncle Sam for the company’s South Texas hub, which will remove 30 million tonnes of C02 per year and offer a storage capacity of 3 billion metric tonnes. What do you think? Learn more about REC and our range of energy expertise and services at https://lnkd.in/ebXT2mS. #carboncapture #midstream #acquisitions #reeseenergyconsulting

EQT Corporation has announced its decision to acquire its former unit Equitrans Midstream Corporation in an all-stock deal, forming a $35 billion integrated natural gas provider. Equitrans shares surged over 8% in premarket trading, while EQT shares dipped slightly. Each Equitrans share will be exchanged for 0.3504 shares of EQT stock, valuing Equitrans at $12.50 per share. The merger is expected to close in the fourth quarter of 2024. This move comes amidst a period of decreased output and spending by U.S. natural gas producers due to low commodity prices. EQT CEO Toby Z. Rice emphasized the need for U.S. companies to adapt to compete globally. Equitrans, an operator of the Mountain Valley natural gas pipeline, has faced regulatory challenges since its construction began in 2018. The deal reflects a broader trend in the industry, following Chesapeake Energy's bid for Southwestern Energy earlier this year. https://lnkd.in/gwrX6tgq

📢 Exciting News! Rogers Petroleum Finalizes Strategic Acquisition of Deloy L. Brown Petroleum 🛢️ We're pleased to announce that Rogers Petroleum, Inc. has successfully completed a strategic acquisition of Deloy L. Brown Petroleum, a multifaceted leader in the industry. This deal marks a significant step forward for Rogers Petroleum, enhancing our ability to better serve our customers in our marina, convenience store, and construction businesses. The acquisition includes three Exxon-branded convenience stores and dealer supply accounts, a well-established commercial fuels and lubricants business, and a state-of-the-art commercial bulk plant facility and card lock in Crossville. This expansion allows us to seamlessly connect our growing central and east Tennessee operations, further reinforcing our commitment to delivering exceptional service and fueling programs. Chris Liposky, CEO of Rogers Petroleum, shared his excitement, "This acquisition adds a vital piece to our strategic puzzle, enabling us to extend our reach across Deloy’s established footprint. We're dedicated to upholding the high standards and valued services that have shaped our business throughout the years." Rodney Brown, President and Owner of Deloy L. Brown Petroleum expressed his pride and optimism for the future, "I am immensely proud of the legacy my father entrusted to me when I took over the business. While we've seen remarkable growth and success, the challenges facing our industry today necessitated a new approach. After careful consideration, we recognized that partnering with Rogers Petroleum was the best path forward for our employees and customers. This is truly a win-win outcome for everyone involved." We extend our gratitude to PetroActive Real Estate Services, LLC for their exclusive confidential advisory services to Deloy L. Brown Petroleum. Their expertise and guidance were invaluable in making this transaction a reality. Join us in celebrating this remarkable milestone and welcoming our new team as we continue to fuel success, together. Learn more about our journey and offerings at www.rogerspetro.com. #RogersPetroleum #DeloyLBrownPetroleum #StrategicAcquisition #FuelingSuccess #BusinessGrowth #EnergyIndustry #Partnership #Exxon #Marathon #Citgo #PetroleumDistribution

Pembina Pipeline Corporation has finalized its acquisition of Enbridge Inc.'s interests in the Alliance, Aux Sable, and NRGreen joint ventures for $2.3 billion. This acquisition increases Pembina's ownership stake in Alliance, Aux Sable's Canadian operations, and NRGreen to 100%, while their ownership in Aux Sable's U.S. operations rises to approximately 85.4%. Pembina will now assume full operation of all three businesses. "This acquisition strengthens our existing operations and opens doors to new markets," said Pembina President and CEO Scott Burrows. The company plans to prioritize integrating the acquired businesses and maximizing the value of these assets. The Alliance pipeline system transports natural gas from western Canada and the Bakken region to Chicago, while Aux Sable operates natural gas liquids (NGL) extraction and processing facilities in both Canada and the US. The acquisition was funded in part by Pembina's December 2023 issuance of subscription receipts. Pembina also revised its 2024 adjusted EBITDA guidance range upwards to reflect the increased contribution from the acquired assets and a stronger outlook in their marketing business. Meanwhile, Enbridge considers this divestiture a key element of their financial strategy. The proceeds will be used to fund US gas utility acquisitions and reduce debt. Both companies have expressed commitment to ensuring a smooth transition period for the affected assets. MJ Logs - The Best Source for Raster Well Logs and LAS 🌐 mjlogs.com #MJLogs #OilandGasIndustry #OilGas #Acquisition #EnergyMarket #Midstream #NaturalGas #GasUtilities

🚀 Exciting M&A News! Schlumberger (SLB) has entered into a monumental agreement to acquire ChampionX in a transformative M&A deal valued at $7.8 billion! This strategic move is set to reshape the landscape of the oilfield services industry. “Our customers are seeking to maximize their assets while improving efficiency in the production and reservoir recovery phase of their operations,” Olivier Le Peuch, SLB’s chief executive officer, said. “This presents a significant opportunity for service providers who can partner with customers throughout the entire production lifecycle, offering integrated solutions and delivering differentiated value. The combination of ChampionX’s strong production-focused leadership throughout North America and beyond with our own international presence, unmatched technology portfolio, and history of innovation will drive tremendous value for our customers and stakeholders. “Our core strategy remains centered on meeting growing energy demand while accelerating decarbonization and emissions reduction through innovation, scale and digitalization in our core oil and gas business. This acquisition will expand SLB’s presence in the less cyclical and growing production and recovery space that is closely aligned with our returns-focused, capital-light strategy,“ Le Peuch said. “Today’s announcement marks the start of an exciting next chapter for ChampionX,” Soma Somasundaram, president and CEO of ChampionX, said. “We have been on a journey to build the best production-focused company in our sector, with a goal of unlocking energy through our differentiated products and technology as well as our strong financial engine. Becoming part of SLB will give us a much broader portfolio and the resources and reach to continue to lead the industry in providing energy to the world in an economically and environmentally sustainable way. Our companies share a vision for the future of energy that leverages technology and innovation to solve our customers’ most complex problems and better serve the communities in which we operate. #Schlumberger , #ChampionX , #MergersAndAcquisitions , #Investments , #Cooperation , #Acquisitions , #BusinessGrowth , #MandAmarket , #SLB https://lnkd.in/efeYGqbQ

@UtilityDive - FERC extends review of Vistra-Energy Harbor merger, delaying $6.3B deal’s potential close. Concerns persist regarding Vistra's resultant market power. Call PRI at 847-673-1959 to create a custom energy strategy. #FERC #vistra #power #energy