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Top Global M&A Deals 2023: Energy and Power Industry

November 6, 2023

Welcome to the Institute for Mergers, Acquisitions, and Alliances’ overview of the Top Global M&A Deals 2023: Energy and Power Industry. This is your essential guide to the deals that are reshaping the global energy landscape. From dominant players in fossil fuels expanding into renewable sectors to emerging startups developing groundbreaking energy storage solutions, our monthly report casts light on the latest mergers and acquisitions in the energy sector, driving the future of the industry.

As the global demand for energy grows, the energy and power industry stands at the crossroads of technological advancements and sustainability initiatives. Mergers and acquisitions in the energy sector have become crucial as companies transition from conventional sources like coal and oil to renewables such as solar and wind. This M&A activity allows companies to diversify portfolios, access new technologies, and expand geographically.

The energy and power industry is a vast and intricate domain. While it includes the extraction, refining, and distribution of fossil fuels, it also covers the harnessing and distribution of renewable energies, and the creation of sustainable power infrastructures. Furthermore, with the integration of digital technologies, areas like energy efficiency, automation, and data analytics are gaining prominence, reshaping how energy is managed and consumed.

As you explore our 2023 report on biggest energy and power M&A, you’ll discover a monthly breakdown of the top deals, offering insights into how the industry is adjusting to the challenges and opportunities of an evolving energy paradigm.

Whether you’re a seasoned industry professional, an investor, or simply interested in the intricacies of the global energy landscape, our platform delivers comprehensive insights into the dynamic world of energy and power through the lens of M&A.

July

Deal 1: Bolloré Logistics GIE (France) was acquired by CMA CGM S.A. (France) for $5.1 billion USD.
Deal 2: Denbury Inc. (United States) was acquired by Exxon Mobil Corporation (United States) for $4.9 billion USD.
Deal 3: Columbia Gas Transmission, LLC and Columbia Gulf Transmission, LLC (United States) was acquired by Global Infrastructure Management, LLC (United States) for $3.9 billion USD.
Deal 4: Cove Point LNG, LP (United States) was acquired by BHE GT&S, LLC (United States) for $3.5 billion USD.
Deal 5: Heritage-Crystal Clean, Inc. (United States) was acquired by J.F. Lehman and Company, LLC (United States) for $1.3 billion USD.

August

Deal 1: Crestwood Equity Partners LP (United States) was acquired by Energy Transfer LP (United States) for $7.10 billion
Deal 2: Earthstone Energy, Inc. (United States) was acquired Permian Resources Corporation (United States) for $4.44 billion USD.
Deal 3: STEAG GmbH (Germany) was acquired by Asterion Industrial Partners (Spain) for $2.80 billion USD.
Deal 4: Alinta Energy Pilbara Holdings Pty Ltd. and Alinta Energy (Newman Storage) Pty Ltd. (Australia) was acquired by APA Group (Australia) for $1.11 billion USD.
Deal 5: Chesapeake’s Remaining Eagle Ford Assets (United States) was acquired by SilverBow Resources, Inc. (United States) for $0.75 billion USD.

September

Deal 1: Trio of Transactions: Dominion Energy Questar Corporation, East Ohio Gas Company, Public Service Company of North Carolina (United States) was acquired by Enbridge Inc. (Canada) for $14.00 billion
Deal 2: ONGC Petro additions Limited (India) was acquired Oil and Natural Gas Corporation Limited (India) for $1.80 billion USD.
Deal 3: Certain Mineral And Royalty Interests affiliates of Warwick Capital Partners and GRP Energy Capital (UK and United States) was acquired by Viper Energy Partners LP (United States) for $1.00 billion USD.
Deal 4: Florida City Gas (United States) was acquired by Chesapeake Utilities Corporation (United States) for $0.92 billion USD.
Deal 5: PGS ASA (Norway) was acquired by TGS ASA (Norway) for $0.86 billion USD.

October

Deal 1: Pioneer Natural Resources Company (United States) was acquired by Exxon Mobil Corporation (United States) for $65.90 billion USD.
Deal 2: Hess Corporation (United States) was acquired by Chevron Corporation (United States) for $57.00 billion USD.
Deal 3: Metallurgical Coal Assets in Australia (Australia) was acquired by Whitehaven Coal Limited (Australia) for $4.10 billion USD.
Deal 4: Oil Producing Assets of Vencer Energy in the Midland Basin of West Texas (United States) was acquired by Civitas Resources, Inc. (United States) for $2.11 billion USD.
Deal 5: Bonavista Energy Corporation (Canada) was acquired by Tourmaline Oil Corp. (Canada) for $1.45 billion USD.

November

Deal 1: Elk Valley Resources Ltd. of Teck Resources Limited (Canada) was acquired by Glencore plc (Switzerland) for $6.93 billion USD.
Deal 2: Enerfin, S.A. (Spain) was acquired by Statkraft AS (Norway) for $1.95 billion USD.
Deal 3: Hammerhead Energy Inc (Canada) was acquired by Crescent Point Energy Corp. (Canada) for $1.86 billion USD.
Deal 4: South Texas Midstream, LLC (United States), NextEra Energy Partners (United States), and Gas pipelines in South Texas (United States) was acquired by Kinder Morgan, Inc. (United States) for $1.82 billion USD.
Deal 5: 5.01% Stake in CITIC Limited (Hong Kong) was acquired by China Huarong Asset Management Co., Ltd. (China) for $1.75 billion USD.

December

Deal 1: CrownRock, L.P. (United States) was acquired by Occidental Petroleum Corporation (United States) for $12.00 billion USD.
Deal 2: Upstream assets and Exploration rights of Wintershall Dea AG – Asset acquisition in diferent countries (Norway, Germany, Denmark, Argentina, Mexico, Egypt, Libya and Algeria as well as Wintershall Dea’s CO2 Capture and Storage (“CCS”) licences in Europe.) was acquired by Harbour Energy plc (United Kingdom) for $11.20 billion USD.
Deal 3: Fertiglobe plc (United Arab Emirates) was acquired by Abu Dhabi National Oil Company (United Arab Emirates) for $3.62 billion USD.
Deal 4: Rockcliff Energy LLC (United States) was acquired by TG Natural Resources LLC (United States) for $2.70 billion USD.
Deal 5: Aux Sable Canada LP/Aux Sable Liquid Products LP (Canada), Alliance Pipeline Ltd. (Canada), and NRGreen Power LP (Canada) was acquired by Pembina Pipeline Corporation (Canada) for $2.30 billion USD.