M&A Deal Summary

Chord Energy Acquires Diamondback Energy - Williston Basin Assets

On October 21, 2021, Chord Energy acquired oil/gas exploration company Diamondback Energy - Williston Basin Assets from Diamondback Energy for 745M USD

Acquisition Highlights
  • This is Chord Energy’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is Chord Energy’s 2nd largest (disclosed) transaction.
  • This is Chord Energy’s 2nd transaction in the United States.
  • This is Chord Energy’s 2nd transaction in Texas.

M&A Deal Summary
Date 2021-10-21
Target Diamondback Energy - Williston Basin Assets
Sector Oil/Gas Exploration
Buyer(s) Chord Energy
Sellers(s) Diamondback Energy
Deal Type Divestiture
Deal Value 745M USD

Target

Diamondback Energy - Williston Basin Assets

Midland, Texas, United States
Williston Basin Assets is one of the largest sedimentary basins in the U.S. and has oil and gas production from several reservoirs.

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Buyer(S) 1

Buyer

Chord Energy

Houston, Texas, United States
Category Company
Founded 2007
Sector Oil/Gas Exploration
Employees514
Revenue 3.9B USD (2023)
DESCRIPTION
Oasis Petroleum's corporate headquarters in downtown Houston, Texas.
Oasis Petroleum's corporate headquarters in downtown Houston, Texas.

Chord Energy is an independent oil and gas company focused on the acquisition and development of unconventional oil and natural gas resources. Chord Energy was formed in 2007 and is based in Houston, Texas.

DEAL STATS #
Overall 2 of 3
Sector (Oil/Gas Exploration) 2 of 3
Type (Divestiture) 1 of 1
State (Texas) 2 of 2
Country (United States) 2 of 3
Year (2021) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-08 Bobcat DevCo

United States

Bobcat DevCo LLC focused in the Wild Basin operating area and include gas gathering, compression and gas lift, crude oil gathering and produced water gathering and disposal. Bobcat DevCo is a particularly strategic midstream asset, as it has been a key contributor to the early success of connecting third-party volumes to OMP's gas plants.

Sell $125M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Whiting Petroleum

Denver, Colorado, United States

Whiting Petroleum is an independent exploration and production company with an oil-focused asset base. Whiting Petroleum was founded in 1980 and is based in Denver, Colorado.

Buy -

Seller(S) 1

SELLER

Diamondback Energy

Midland, Texas, United States
Category Company
Founded 2007
Sector Oil/Gas Exploration
Employees1,023
Revenue 8.3B USD (2023)
DESCRIPTION

Diamondback Energy is an independent oil and natural gas company focused on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. Diamondback's activities are primarily focused on the horizontal exploitation of multiple intervals within the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations. Diamondback Energy was founded in 2007 and is based in Midland, Texas.

DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 2
Country (United States) 1 of 2
Year (2021) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-21 QEP Resources

Denver, Colorado, United States

QEP Resources, Inc. is an independent crude oil and natural gas exploration and production company focused in two regions of the United States: the Southern Region (primarily in Texas) and the Northern Region (primarily in North Dakota). QEP Resources was founded in 2010 and is based in Denver, Colorado.

Buy $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-11 FireBird Energy

Fort Worth, Texas, United States

FireBird Energy is an upstream oil and gas company focused on the acquisition and responsible development of assets in the Midland Basin. The company made a significant acquisition of producing properties in the western Midland Basin at the time of its founding and presently operates over 450 vertical and horizontal wells in the Basin. FireBird Energy was established in 2019 and is based in Fort Worth, Texas.

Buy -
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