General News | Deals - Acquisition, Mergers, Divestitures
Amplify Energy, Midstates Finalize Merger Deal; Talk 2019 Spending Outlook
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Amplify Energy and Midstates Petroleum have finalized their all-stock merger deal. The agreement was initially announced back in early May 2019.
Terms of the deal were not disclosed.
Pro Forma Assets:
Total position of ~218,000 net acres
- MissLime: 100,000 net acres
- Ark-La-Tex: 93,300 net acres
- Eagle Ford: 750 net acres
- Rockies CO2: 7,000 net acres
- California Offshore: 17,000 net acres
Total production of ~40.1 MBOEPD
- MissLime: 16.4 MBOEPD
- Ark-La-Tex: 15.5 MBOEPD
- Eagle Ford: 16.4 MBOEPD
- Rockies CO2: 4.1 MBOEPD
- California Offshore: 3.1 MBOEPD
Operations and Capital Spending Outlook
In 2H 2019, we anticipate capital spending of approximately $38 million across our operating areas. Approximately 53% (or $20 million) of this capital will be invested in Bairoil, primarily to fund the plant expansion project, which is expected to come online in the fourth quarter of 2019. The expansion will provide additional CO2 recycling capacity and allow currently shut-in wells to be turned back online, increasing oil production by approximately 900 Boe/d.
In addition, we anticipate spending approximately $11 million (29% of second half 2019 capital spend) on our Mississippi Lime asset on a capital workover program focused on converting electric submersible pumps to rod-lift, a more efficient artificial lift technology, as well as infrastructure build-out. We believe this investment to be low-risk while maximizing the economic life of producing wells and materially reducing future electricity and maintenance costs associated with these wells. The remaining capital budget will be spent predominantly on well work, facilities and other maintenance activities across our assets in offshore California, East Texas and Eagle Ford.
Recent Deals/Transactions
| Date Annouced | Category | Headline | Buyer(s) | Seller(s) | Value ($mm) |
|---|---|---|---|---|---|
| 02/26/2026 | E&P | Diversified Energy Extends East Texs Footprint in $245MM Sheridan Deal |
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| 02/18/2026 | E&P | SM Energy Sells Eagle Ford Asset for $950 Million |
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| 02/17/2026 | E&P | Ovintiv Sells Anadarko Assets for $3 Billion |
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| 02/02/2026 | E&P | Vista Energy Acquires Equinor Non-Working Interest In Vaca Muera |
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| 02/02/2026 | E&P | Devon Acquires Coterra Energy; Bulk Up on Permian, Adds Gas Bank |
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| 01/16/2026 | E&P | Mitsubishi’s Strategic Entry into U.S. Shale with Aethon’s Haynesville Platforms |
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| 12/22/2025 | E&P | Harbour Energy Enters GOM; Buys LLOG |
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| 12/18/2025 | E&P | JAPEX Secures First U.S. Operated Position in $1.26B DJ Basin Acquisition of Verdad Resources |
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| 12/08/2025 | E&P | Antero Resources Acquires HG Energy II for $3.9B |
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| 12/08/2025 | E&P | Infinity Natural and Northern Oil & Gas Acquire Antero's Ohio Utica for $1.2B |
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| Total |
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