Oil majors Exxon, Equinor divest some North American assets

TOP M&A NEWS

➤ ExxonMobil, Imperial Oil sell XTO Energy Canada to Whitecap Resources for $1.47B

Canadian public operator Whitecap Resources Inc. signed a purchase and sale agreement with two Exxon Mobil Corp. affiliates to acquire XTO Energy Canada for about $1.47 billion, or C$1.7 billion, the three entities said in June 28 statements.

➤ Equinor to sell 51% stake in US Gulf of Mexico field to Shell

Norwegian state-owned energy company Equinor ASA agreed to sell a 51% stake in the North Platte development in the U.S. Gulf of Mexico to Shell PLC for an undisclosed amount.

➤ Clearway Energy agrees to buy 413-MW wind portfolio

Clearway Energy Inc. reached a deal to acquire a 413-MW portfolio of operating wind projects from Capistrano Wind Partners LLC for a cash consideration of $255 million, plus the assumption of about $160 million of nonrecourse debt.

➤ LS Power to acquire 835-MW gas plant in Ohio

LS Power said June 23 that it agreed to acquire an 835-MW natural gas-fired power plant in southeastern Ohio from an ArcLight Capital Partners LLC affiliate. Financial terms of the deal were not disclosed.

Oil and gas deals reached $49.52 billion in value year to date through June 29, compared with $78.95 billion in the same period in 2021. Utility deals for the same period aggregated to $37.92 billion in 2022, compared with $86.16 billion in 2021, according to S&P Global Market Intelligence data.

NORTH AMERICA

* Dene First Nations raise stake in Northwest Territories utility to 50%

* Entergy closes sale of shuttered Palisades nuclear plant to Holtec

* Ameren Missouri to buy 200-MW solar project from EDF Renewables

EUROPE

* Van Oord sells stake in 19-MW offshore wind farm to Octopus Energy

* Swiss Life Asset Managers acquires 50% stake in BCP Battery

* Quinbrook acquires rights to develop battery storage at former UK coal plant

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This edition covers M&A news in the energy and utilities sector from June 23 through June 30. M&A transaction data in the current month is subject to revision.