All sectors
Oil/Gas Exploration
Who acquires Oil/Gas Exploration companies
208 distinct acquirers across 250 recorded transactions, 2014 to 2026. Every buyer below has completed at least one acquisition in this sector.
250
Transactions
2014 to 2026
208
Named acquirers
distinct buyers
4.7x
Median EV/EBITDA
from 10 disclosed
$311m
Median deal size
enterprise value
Most active acquirers
Ranked by number of acquisitions recorded in this sector. A buyer that has done this more than once has a thesis, and a thesis is what makes an approach worth making.
- Tamarack Valley Energy4 deals
- Tourmaline Oil4 deals
- International Petroleum3 deals
- Par Pacific3 deals
- Earthstone Energy3 deals
- EnCap Investments (PE)3 deals
- CorEnergy3 deals
- Ovintiv Inc.2 deals
Recorded transactions
| Target | Acquirer | Date | Value | EV/EBITDA | EV/Revenue |
|---|---|---|---|---|---|
| Paloma Permian | Matador Resources Company | 2026-10-01 | $1.3bn | 0.0x | 0.0x |
| Shell Coulomb and Na Kika deepwater interests | Talos Energy Inc. | 2026-09-22 | $420m | 0.0x | 0.0x |
| WildFire Intermediate Holdings | Magnolia Oil & Gas Corporation | 2026-09-10 | $0k | 0.0x | 0.0x |
| Anadarko basin upstream producing assets | DP Eagle LLC | 2026-07-02 | $0k | 0.0x | 0.0x |
| Canyon Creek Arkoma Basin oil and gas assets | Presidio Production Company | 2026-07-01 | $0k | 0.0x | 0.0x |
| Kosmos International Petroleum | Panoro Energy ASA | 2026-06-16 | $127m | 0.0x | 0.0x |
| Cross Timbers Energy oil and gas properties | CTOC Energy | 2026-05-28 | $200m | 0.0x | 0.0x |
| Falcon Oil & Gas Ltd. subsidiaries | Tamboran Resources Corporation | 2026-05-28 | $0k | 0.0x | 0.0x |
| Coterra Energy Inc. | Devon Energy Corporation | 2026-05-07 | $0k | 0.0x | 0.0x |
| Sheridan east Texas oil and gas assets | Diversified Energy Company | 2026-04-30 | $248m | 0.0x | 0.0x |
| SM Energy South Texas Maverick Basin assets | Caturus Energy | 2026-04-30 | $950m | 0.0x | 0.0x |
| Ovintiv Anadarko assets | MidCon II BuyerCo | 2026-04-09 | $2.9bn | 0.0x | 0.0x |
| Battalion Oil West Quito Draw assets | MCM Delaware Resources | 2026-02-24 | $60m | 0.0x | 0.0x |
| Antero Ohio Utica upstream and midstream assets | Northern Oil and Gas | 2026-02-23 | $480m | 0.0x | 0.0x |
| HG Energy II Production Holdings | Antero Resources Corporation | 2026-02-03 | $2.8bn | 0.0x | 0.0x |
| NuVista Energy Ltd. | Ovintiv Inc. | 2026-02-03 | $2.7bn | 0.0x | 0.0x |
| Civitas Resources | SM Energy Company | 2026-01-30 | $0k | 0.0x | 0.0x |
| Renergen Limited | ASP Isotopes Inc. | 2026-01-06 | $0k | 0.0x | 0.0x |
| Novacor Exploration Lloydminster heavy oil assets | Trio Petroleum Corp | 2025-12-30 | $730k | 0.0x | 0.0x |
| Amplify Energy Oklahoma oil and gas assets | Revolution Resources III | 2025-12-29 | $93m | 0.0x | 0.0x |
| Amplify Energy East Texas assets | EQV Alpha LLC | 2025-12-23 | $122m | 0.0x | 0.0x |
| Berry Corporation (bry) | California Resources Corporation | 2025-12-18 | $253m | 0.0x | 0.0x |
| Vital Energy | Crescent Energy Company | 2025-12-15 | $0k | 0.0x | 0.0x |
| Canvas | Diversified Energy Company PLC | 2025-11-26 | $0k | 0.0x | 0.0x |
| Peak Exploration & Production | Epsilon Energy Ltd. | 2025-11-14 | $0k | 0.0x | 0.0x |
| Capital Land Services Ltd. Vermilion River oil and gas assets | Trio Petroleum Corp | 2025-11-03 | $0k | 0.0x | 0.0x |
| North Peak Oil & Gas | PEDEVCO Corp. | 2025-10-31 | $0k | 0.0x | 0.0x |
| Bedrock Production | BKV Corporation | 2025-09-29 | $370m | 0.0x | 0.0x |
| Sabinal Energy Permian assets and IKAV San Juan entities (SIMCOE LLC and Simlog LLC) | Mach Natural Resources LP | 2025-09-16 | $1.3bn | 0.0x | 0.0x |
| Pradera Fuego non-operated working interests (seven producing Barnett wells) | Royale Energy | 2025-09-03 | $2m | 0.0x | 0.0x |
| Sitio Royalties Corp. | Viper Energy | 2025-08-19 | $0k | 0.0x | 0.0x |
| SCOOP/STACK mineral and royalty interests | Evolution Petroleum Corporation | 2025-08-04 | $17m | 0.0x | 0.0x |
| Encino Acquisition Partners | EOG Resources | 2025-08-01 | $5.6bn | 0.0x | 0.0x |
| White Rock Energy Elm Coulee assets | TXO Partners | 2025-07-31 | $339m | 0.0x | 0.0x |
| Hess Corporation | Chevron Corporation | 2025-07-18 | $0k | 0.0x | 0.0x |
| Amplify Energy Eagle Ford non-operated assets | Murphy Exploration & Production Company - USA | 2025-07-01 | $23m | 0.0x | 0.0x |
| Silverback Exploration II | Riley Exploration Permian | 2025-07-01 | $142m | 0.0x | 0.0x |
| Flexible Engineered Solutions | Hunting | 2025-06-24 | $77m | 8.1x | 1.6x |
| Novacor Exploration Lloydminster oil and gas assets | Trio Petroleum Corp. | 2025-05-21 | $0k | 0.0x | 0.0x |
| PEC | Alliance Energy Services | 2025-05-07 | $160m | 5.2x | 0.4x |
| Lost Creek Acquisitions Oklahoma gas well working interests | Northern Minerals & Exploration Ltd. | 2025-04-21 | $290k | 0.0x | 0.0x |
| Lime Rock Resources Central Basin Platform assets | Ring Energy | 2025-03-31 | $0k | 0.0x | 0.0x |
| Bayswater Denver-Julesburg Basin oil and gas assets | Prairie Operating Co. | 2025-03-26 | $603m | 0.0x | 0.0x |
| Equus Energy | North American Energy Opportunities | 2025-03-14 | $1m | 0.0x | 0.0x |
| Lucero Energy Corp. | Vitesse Energy | 2025-03-07 | $0k | 0.0x | 0.0x |
| ConocoPhillips - Ursa & Europa Fields | Shell | 2025-02-21 | $735m | 0.0x | 0.0x |
| Obsidian Energy - Operated Pembina Assets | InPlay Oil | 2025-02-19 | $320m | 0.0x | 0.0x |
| Outrigger Energy II - Natural Gas Gathering and Processing System in North Dakota | Hiland Partners LP | 2025-02-18 | $640m | 0.0x | 0.0x |
| Paramount Resources Montney assets | Ovintiv Inc. | 2025-01-31 | $2.3bn | 0.0x | 0.0x |
| Ridgemar (Eagle Ford) LLC | Crescent Energy Company | 2025-01-31 | $905m | 0.0x | 0.0x |
| Lucero | Vitesse Energy | 2024-12-16 | $222m | 2.2x | 1.5x |
| STCBL | Touchstone | 2024-12-13 | $23m | 0.0x | 0.0x |
| Parkmead (E&P) | Serica Energy | 2024-12-12 | $22m | 0.0x | 0.0x |
| Permian Resources - Natural Gas & Oil Gathering Systems | Kinetik | 2024-12-10 | $180m | 0.0x | 0.0x |
| Apex Energy | CNX | 2024-12-05 | $505m | 0.0x | 0.0x |
| Profire Energy | CECO Environmental | 2024-10-29 | $125m | 0.0x | 0.0x |
| Tall Oak Midstream III | Summit Midstream | 2024-10-01 | $155m | 0.0x | 0.0x |
| Liberty Operating Mississippi oil and gas properties | CoJax Oil & Gas Corp | 2024-08-29 | $0k | 0.0x | 0.0x |
| Piñon Midstream | Enterprise Products Partners | 2024-08-21 | $950m | 0.0x | 0.0x |
| Tellurian | Woodside | 2024-07-21 | $900m | 0.0x | 6.4x |
| Pinnacle Midstream | Phillips 66 | 2024-05-20 | $550m | 0.0x | 0.0x |
| SapuraOMV Upstream | TotalEnergies | 2024-01-31 | $903m | 0.0x | 0.0x |
| Nickel Road Operating | Prairie Operating Co. | 2024-01-11 | $95m | 0.0x | 0.0x |
| Ocyan | EIG Partners (PE) | 2023-12-28 | $390m | 0.0x | 0.0x |
| Fury Resources | Battalion Oil | 2023-12-15 | $450m | 0.0x | 0.0x |
| Repsol - Canadian upstream oil and gas business | Peyto Exploration & Development | 2023-09-07 | $468m | 0.0x | 0.0x |
| Meritage Midstream | Western Midstream Partners | 2023-09-05 | $885m | 0.0x | 0.0x |
| Siemens - Process Gas Chromatography business | Valmet | 2023-07-14 | $116m | 0.0x | 0.0x |
| Hurricane Energy | Prax Group | 2023-06-08 | $383m | 0.0x | 0.0x |
| Percussion Petroleum II | Callon Petroleum | 2023-05-03 | $475m | 0.0x | 0.0x |
| Compressor Controls | Honeywell | 2023-04-26 | $670m | 0.0x | 0.0x |
| Equinor Energy Ireland | Vermilion Energy | 2023-04-03 | $434m | 0.0x | 0.0x |
| Driftwood Energy | Vital Energy | 2023-02-14 | $128m | 0.0x | 0.0x |
| Cor4 Oil | International Petroleum | 2023-02-06 | $62m | 0.0x | 0.0x |
| Aquadrill | Seadrill | 2022-12-22 | $958m | 0.0x | 0.0x |
| Cool Sorption | Akastor ASA | 2022-12-22 | $3m | 0.0x | 0.0x |
| Lario Oil & Gas - Northern Midland Basin | Diamondback Energy | 2022-11-16 | $850m | 0.0x | 0.0x |
| Hatch Royalty - Permian Basin | Kimbell Royalty Partners | 2022-11-03 | $290m | 0.0x | 0.0x |
| Billings Assets | Par Pacific | 2022-10-20 | $310m | 0.0x | 0.0x |
| NorTex Midstream Partners | Williams | 2022-09-08 | $423m | 0.0x | 0.0x |
| Enerplus Corp. - Certain Canadian Assets | Journey Energy | 2022-07-28 | $106m | 0.0x | 0.0x |
| RimRock Oil & Gas | Devon Energy | 2022-07-08 | $865m | 0.0x | 0.0x |
| Titus Oil & Gas LLC - Northern Delaware Basin Asset | Earthstone Energy | 2022-06-28 | $627m | 0.0x | 0.0x |
| Rolling Hills | Tamarack Valley Energy | 2022-06-10 | $47m | 0.0x | 0.0x |
| RimRock Oil & Gas | Undisclosed | 2022-06-08 | $865m | 0.0x | 0.0x |
| Sendero | Crestwood Midstream Partners LP | 2022-06-03 | $600m | 0.0x | 0.0x |
| LOGOS Resources II | North Hudson Resource Partners LP (PE) | 2022-06-02 | $402m | 0.0x | 0.0x |
| AltaGas' Alaskan Utilities | TriSummit Utilities | 2022-05-26 | $800m | 0.0x | 0.0x |
| Crestwood Equity Partners - North Texas Gathering & Processing Assets | EnLink Midstream | 2022-05-25 | $275m | 0.0x | 0.0x |
| Great Western Petroleum | PDC Energy | 2022-05-06 | $543m | 0.0x | 0.0x |
| SandPoint Resources - Oil & Gas Assets | SilverBow | 2022-04-14 | $71m | 0.0x | 0.0x |
| Sundance Energy | SilverBow | 2022-04-14 | $369m | 0.0x | 0.0x |
| 3Bear Delaware Holding - NM LLC | Delek Logistics | 2022-04-11 | $625m | 0.0x | 0.0x |
| Leucrotta Exploration | Vermilion Energy | 2022-03-28 | $477m | 0.0x | 0.0x |
| Quarles Petroleum | Superior Plus | 2022-03-28 | $145m | 0.0x | 0.0x |
| Bighorn Permian Resources LLC - Midland Basin Asset | Earthstone Energy | 2022-01-31 | $860m | 0.0x | 0.0x |
| ConocoPhillips - Permian Basin | Maverick Natural Resources | 2022-01-28 | $440m | 0.0x | 0.0x |
| Petroleos | Frontera Energy | 2021-12-20 | $27m | 0.0x | 0.0x |
| Crestwynd Exploration | Tamarack Valley Energy | 2021-12-15 | $185m | 0.0x | 0.0x |
| Senex | Posco International | 2021-12-13 | $606m | 0.0x | 0.0x |
| Goodrich Petroleum | EnCap Investments (PE) | 2021-11-22 | $480m | 40.0x | 3.1x |
| Veritas Energy - Permian Basin Assets | NOG | 2021-11-16 | $419m | 0.0x | 0.0x |
| FTS International | ProFrac | 2021-10-22 | $408m | 0.0x | 0.5x |
| Diamondback Energy - Williston Basin Assets | Chord Energy | 2021-10-21 | $745m | 0.0x | 0.0x |
| Alamo Pressure Pumping | NexTier Oilfield Solutions | 2021-08-04 | $268m | 3.9x | 0.0x |
| Velvet Energy | Spartan Delta | 2021-07-29 | $565m | 0.0x | 0.0x |
| Grenadier Energy III | EnCap Investments (PE) | 2021-07-21 | $350m | 0.0x | 0.0x |
| ConocoPhillips - Wind River Basin Assets | Contango Oil & Gas | 2021-07-08 | $67m | 0.0x | 0.0x |
| Black Swan Energy | Tourmaline Oil | 2021-06-11 | $836m | 0.0x | 0.0x |
| Venturion | Cardinal | 2021-06-01 | $48m | 0.0x | 0.0x |
| Mobile Chemical LP Refinery | Vertex Energy | 2021-05-26 | $75m | 0.0x | 0.0x |
| Sabalo Energy | Vital Energy | 2021-05-09 | $715m | 0.0x | 0.0x |
| Shell Puget Sound Refinery | HF Sinclair | 2021-05-04 | $350m | 0.0x | 0.0x |
| Anegada Oil | Tamarack Valley Energy | 2021-04-12 | $375m | 0.0x | 0.0x |
| Hess - Williston Basin Assets | Enerplus | 2021-04-08 | $312m | 0.0x | 0.0x |
| Pacific Drilling | Noble | 2021-03-25 | $30m | 0.0x | 0.0x |
| Woodcote Petroleum | Tamarack Valley Energy | 2021-03-08 | $33m | 0.0x | 0.0x |
| Zennor Petroleum | NEO Energy | 2021-03-08 | $625m | 0.0x | 0.0x |
| Royal Dutch Shell plc - Kaybob Duvernay Assets | Crescent Point Energy Corp. | 2021-02-17 | $684m | 0.0x | 0.0x |
| Crimson Midstream LLC | CorEnergy | 2021-02-04 | $350m | 0.0x | 0.0x |
| Bruin E&P HoldCo | Enerplus | 2021-01-25 | $465m | 0.0x | 0.0x |
| Independence Resources Management LLC | Earthstone Energy | 2021-01-07 | $182m | 0.0x | 0.0x |
| Edison Norge AS | Sval Energi | 2020-12-30 | $300m | 0.0x | 0.0x |
| Jupiter Resources | Tourmaline Oil | 2020-12-18 | $630m | 0.0x | 0.0x |
| Atomic Oil & Gas LLC | COPL | 2020-12-16 | $54m | 0.0x | 0.0x |
| Modern Resources | Tourmaline Oil | 2020-11-02 | $109m | 0.0x | 0.0x |
| Chevron Corp. - Appalachia Assets | EQT | 2020-10-27 | $735m | 0.0x | 0.0x |
| Inter Pipeline Ltd. - European Storage Business | Exolum | 2020-09-22 | $715m | 0.0x | 0.0x |
| Approach Resources | Zarvona Energy | 2020-09-11 | $116m | 0.0x | 0.0x |
| Kelt Exploration Ltd. - Liquids-Rich Montney Acreage | ConocoPhillips | 2020-07-22 | $375m | 0.0x | 0.0x |
| Pinedale Liquids Gathering System | CorEnergy | 2020-07-07 | $225m | 0.0x | 0.0x |
| RockRose Energy | Viaro Energy | 2020-07-07 | $309m | 0.0x | 0.0x |
| Bellatrix | Spartan Delta | 2020-06-01 | $88m | 0.0x | 0.0x |
| Energias de Portugal | TotalEnergies | 2020-05-18 | $580m | 0.0x | 0.0x |
| Royal Dutch Shell plc - U.S. Appalachia Assets | National Fuel | 2020-05-04 | $541m | 0.0x | 0.0x |
| PBF Energy | Air Products and Chemicals | 2020-03-30 | $530m | 0.0x | 0.0x |
| NexTier Oilfield Solutions | Basic Energy Services | 2020-03-09 | $94m | 0.0x | 0.0x |
| Centennial Resource Development LLC - Produced Water Assets | WaterBridge | 2020-02-25 | $225m | 0.0x | 0.0x |
| Chinook Energy | Tourmaline Oil | 2020-02-25 | $19m | 0.0x | 0.0x |
| Granite Oil Corp. | International Petroleum | 2020-01-20 | $59m | 0.0x | 0.0x |
| Puma Energy (Australia) Holdings Pty Ltd. | Chevron Australia Pty Ltd. | 2019-12-18 | $302m | 0.0x | 0.0x |
| Buckhorn Resources GP LLC - Oil & Natural Gas Mineral and Royalty Assets | Kimbell Royalty Partners | 2019-12-12 | $36m | 0.0x | 0.0x |
| ConocoPhillips - Oil-Weighted Producing Property | W&T Offshore | 2019-12-12 | $20m | 0.0x | 0.0x |
| Jones Energy II | Revolution Resources | 2019-12-06 | $202m | 0.0x | 0.0x |
| Jones Energy | Revolution Resources | 2019-12-06 | $202m | 0.0x | 0.0x |
| Amerisur Resources Plc | GeoPark | 2019-11-15 | $373m | 0.0x | 0.0x |
| Reliance Gathering | Rattler Midstream | 2019-11-12 | $356m | 0.0x | 0.0x |
| Neptune Marine Services Ltd. | MMA Offshore | 2019-11-07 | $13m | 0.0x | 0.2x |
| Toro Gold | Resolute Mining | 2019-08-01 | $305m | 0.0x | 0.0x |
| Total S.A. - UK non-core Assets | Petrogas E&P LLC | 2019-07-10 | $635m | 0.0x | 0.0x |
The 150 most recent of 250 recorded transactions in this sector. n/d means not disclosed. Most transactions close without a published multiple, which is why the disclosed count matters more than the median.
See all 250 Oil/Gas Exploration transactions
Who owns Energy & Utilities companies
On PEStore, Oil/Gas Exploration sits within Energy & Utilities. PEStore profiles the private equity firms and serial acquirers active there: what they own, how long they have held it, and every deal on record. Underlined acquirers above link to their profiles.
Energy & Utilities investors and acquirers on PEStoreMultiples across every sector
What is your Oil/Gas Exploration business worth?
Run the free valuation against the current multiple band for your sector. It takes about a minute and shows the range and the method behind it.
Run a valuation