Energy M&A news: energy mergers and acquisitions in 2026
Every energy merger, acquisition, take-private and carve-out we have verified in 2026, newest first. Updated every morning.
Cenovus Energy → Athabasca Oil$4bnEnergy Transfer → Vaquero Midstream$2.6bnENEOS Holdings → Chevron Asia-Pacific downstream businesses$2.2bnIthaca Energy → Suncor Energy (Terra Nova, White Rose, West White Rose stakes)$860mDolomiti Energia → Retragas (91.6% stake from A2A and Unareti)$73mGlobal Infrastructure Partners and EQT Infrastructure VI (with CalPERS and QIA) → The AES Corporation$33.4bnDevon Energy Corporation → Coterra Energy Inc.$21.4bnShell plc → ARC Resources Ltd.$16.4bnENGIE SA → UK Power Networks$14.2bnEnergy Capital Partners and KKR (Dragon Bidco) → DCC Energy plc$7.7bnMitsubishi Corporation → Aethon III LLC and Aethon United LP (Haynesville business)$7.5bnBrookfield Asset Management and La Caisse → Boralex Inc.$6.5bn
72Deals tracked
$186.2bnDisclosed value
$33.4bnLargest deal
27Completed
Energy M&A news: energy mergers and acquisitions in 2026
- 16 Oct 2026A2A sells Retragas gas network stake to Dolomiti EnergiaDolomiti Energia → Retragas (91.6% stake from A2A and Unareti)Energy / Gas transmissionAgreed$73m
- 14 Oct 2026EDF agrees to sell hydrogen unit Hynamics to Hy24Hy24 (Clean Hydrogen Infrastructure fund) → Hynamics (from EDF Pulse Ventures)Energy / HydrogenAgreedUndisclosed
- 9 Oct 2026Singapore regulator weighs ENEOS's purchase of Chevron refinery stakeENEOS Holdings → Chevron Asia-Pacific downstream businessesEnergy / Refining and fuels marketingIn review$2.2bn
- 6 Oct 2026Energy Transfer agrees $2.63bn deal for Vaquero MidstreamEnergy Transfer → Vaquero MidstreamEnergy / MidstreamAgreed$2.6bn
- 5 Oct 2026Cenovus agrees C$5.7bn deal to buy Athabasca OilCenovus Energy → Athabasca OilEnergyAgreed$4bn
- 5 Oct 2026Suncor sells Newfoundland offshore stakes to Ithaca for C$1.2bnIthaca Energy → Suncor Energy (Terra Nova, White Rose, West White Rose stakes)EnergyAgreed$860m
- 2 Oct 2026Flowco buys Canada's Lifting Solutions for US$113mFlowco Holdings → Lifting SolutionsEnergyCompleted$113m
- 30 Sept 2026Harrison Street agrees $2.92bn deal for control of Vicinity EnergyHarrison Street Asset Management (with Kenon Holdings) → Vicinity Energy (majority stake)Energy / InfrastructureAgreed$2.9bn
- 25 Sept 2026Genel tops DNO with £330m Capricorn offerGenel Energy → Capricorn EnergyEnergyAgreedUndisclosed
- 24 Sept 2026Select Water agrees $700m deal for Pilot WaterSelect Water Solutions → Pilot Water SolutionsEnergy / Water midstreamAgreed$700m
- 21 Sept 2026TC Energy sells Mexican pipeline to ESENTIA for US$400mESENTIA → Energía Occidente de México (TC Energy)EnergyAgreed$400m
- 31 Aug 2026ePointZero agrees deal for 90% of Azura PowerePointZero (2PointZero Group) → Azura Power Holdings Limited (90%)Energy / Power generationAgreedUndisclosed
- 11 Aug 2026CPP Investments and founder agree US$2.8bn ReNew take-privateCPP Investments and Sumant Sinha (consortium) → ReNew Energy Global plcEnergy / Renewable powerAgreed$2.8bn
- 11 Aug 2026Cadeler buys Menck in €501m dealCadeler A/S → Menck GmbHEnergy / Offshore wind equipmentCompleted$578m
- 10 Aug 2026Purvah Green agrees INR 48.6bn deal for ReNew solar portfolioPurvah Green Power (CESC Limited, RP-Sanjiv Goenka Group) → ReNew solar portfolio (six project SPVs, 1.4GWp)Energy / Solar powerAgreed$510m
- 7 Aug 2026DNO walks away from £202m approach for Genel EnergyDNO ASA → Genel Energy plcEnergy / Oil and gasTerminated$272m
- 3 Aug 2026Williams agrees up to US$5.5bn deal for Momentum MidstreamThe Williams Companies → Momentum MidstreamEnergy / MidstreamCompleted$5.5bn
- 3 Aug 2026TotalEnergies agrees to buy Shell's European onshore renewables armTotalEnergies SE → Shell's European onshore renewables businessEnergy / RenewablesAgreedUndisclosed
- 3 Aug 2026Pori Energia agrees to buy Leppäkosken SähköPori Energia Oy → Leppäkosken Sähkö OyEnergy / Electricity distributionAgreedUndisclosed
- 27 Jul 2026KKR and ECP agree £5.75bn take-private of DCC EnergyEnergy Capital Partners and KKR (Dragon Bidco) → DCC Energy plcEnergy / Energy distributionAgreed$7.7bn
- 27 Jul 2026Expand Energy completes US$1.25bn Twin Eagle dealExpand Energy Corporation → Twin Eagle Holdings, N.A., LLCEnergy / Gas marketingCompleted$1.3bn
- 26 Jul 2026Serica bids £146m for Pharos Energy, then walks awaySerica Energy plc → Pharos Energy plcEnergy / Oil and gas exploration and productionTerminated$194m
- 23 Jul 2026Matador completes US$1.3bn Paloma Permian purchaseMatador Resources Company → Paloma Permian LLCEnergy / Oil and gasCompleted$1.3bn
- 23 Jul 2026Enilive agrees to buy OIL! service stations from PraxEnilive (Eni) → OIL! Tankstellen GmbHEnergy / Fuel retailAgreedUndisclosed
- 21 Jul 2026Iberdrola buys 80% of Finland's Caruna at €5bn valuationIberdrola SA → CarunaEnergy / Electricity distributionAgreed$5.7bn
- 21 Jul 2026Vår Energi agrees to merge with BlueNordVår Energi ASA → BlueNord ASAEnergy / Oil and gasAgreedUndisclosed
- 20 Jul 2026Magnolia completes US$4.06bn WildFire Energy dealMagnolia Oil & Gas Corporation → WildFire EnergyEnergy / Oil and gasCompleted$4.1bn
- 13 Jul 2026Aditya Birla Renewables agrees US$1.8bn deal for Shell's Sprng EnergyAditya Birla Renewables Limited (Grasim Industries) → Sprng Energy (Solenergi Power Private Limited)Energy / Renewable powerAgreed$1.8bn
- 7 Jul 2026ADNOC Distribution agrees US$1bn deal for Shell's South African fuel networkADNOC Distribution → Shell Downstream South AfricaEnergy / Fuel retailAgreed$1bn
- 30 Jun 2026KKR agrees US$4.2bn deal for EDF's North American renewables armKKR → EDF power solutions (US and Canadian operations)Energy / RenewablesAgreed$4.2bn
- 29 Jun 2026Matador's San Mateo agrees US$752m deal for Cardinal MidstreamSan Mateo Midstream (Matador Resources / Five Point Infrastructure JV) → Cardinal Midstream Partners (operating subsidiaries)Energy / MidstreamCompleted$752m
- 22 Jun 2026RWE agrees €3.6bn deal to take control of AmprionRWE AG → Amprion (indirect stake via M31, rising to 55%)Energy / Power transmissionCompleted$4.1bn
- 13 Jun 2026JSW Energy buys 300MW Korba coal plant for ₹1,410 croreJSW Energy → Maruti Clean Coal and PowerEnergy / Thermal powerCompleted$148m
- 11 Jun 2026Stonepeak and EEP agree to buy Polish fuel retailer AnwimStonepeak and Energy Equation Partners → Anwim S.A.Energy / Fuel retailAgreedUndisclosed
- 9 Jun 2026Adani Energy Solutions agrees ₹3,050 crore deal for IntelliSmartAdani Energy Solutions → IntelliSmart InfrastructureEnergy / Smart meteringAgreed$320m
- 1 Jun 2026Drax agrees £548m deal for Bluefield Solar Income FundDrax Group plc → Bluefield Solar Income Fund LimitedEnergy / Solar and windCompleted$738m
- 28 May 2026Nextpower agrees deal for Prevalon Energy worth up to US$365mNextpower Inc. → Prevalon EnergyEnergy / Battery storageCompletedUndisclosed
- 25 May 2026Petronas to take full ownership of PRefChem from AramcoPetroliam Nasional Berhad (PETRONAS) → PRefChem (Aramco's 50% in Pengerang Refining and Pengerang Petrochemical)Energy / Refining and petrochemicalsAgreedUndisclosed
- 19 May 2026Hull Street Energy buys FirstLight's US hydro fleet from PSPHull Street Energy → FirstLight USAEnergy / Hydro and pumped storageAgreedUndisclosed
- 18 May 2026NextEra and Dominion agree all-stock utility mergerNextEra Energy, Inc. → Dominion Energy, Inc.Energy / Electric utilitiesAgreedUndisclosed
- 7 May 2026Centrica buys Severn gas plant for about £370mCentrica plc → Severn CCGT power station (Severn Power Limited)Energy / Gas-fired power generationCompleted$500m
- 6 May 2026Western Midstream agrees US$1.6bn deal for Brazos DelawareWestern Midstream Partners, LP → Brazos Delaware II, LLCEnergy / MidstreamCompleted$1.6bn
- 6 May 2026Carlyle and Diversified agree US$1.2bn Camino asset dealCarlyle (Global Credit) and Diversified Energy → Camino Natural Resources' Anadarko Basin assetsEnergy / Oil and gas productionCompleted$1.2bn
- 5 May 2026Expro agrees NOK2bn deal for Enhanced DrillingExpro → Enhanced Drilling (Enhanced Well Technologies Group AS)Energy / Oilfield servicesCompleted$215m
- 30 Apr 2026MARA agrees US$1.5bn deal for Ohio power plant owner Long Ridge EnergyMARA Holdings, Inc. → Long Ridge Energy & Power LLCEnergy / Power generationIn review$1.5bn
- 29 Apr 2026Ares buys Blackstone's 32.4% stake in Rover gas pipelineAres Infrastructure Opportunities funds → Rover Pipeline (32.4% stake)Energy / Natural gas pipelinesCompletedUndisclosed
- 28 Apr 2026Argo agrees US$470m purchase of UGI's Pennsylvania electric utilityArgo Infrastructure Partners → UGI Utilities Electric DivisionEnergy / Electric utilityAgreed$470m
- 27 Apr 2026Shell agrees US$16.4bn deal for Canada's ARC ResourcesShell plc → ARC Resources Ltd.Energy / Oil and gas productionCompleted$16.4bn
- 27 Apr 2026Stonepeak and Bernhard agree to buy Louisiana utility Cleco from Macquarie groupStonepeak and Bernhard Capital Partners → Cleco Group LLCEnergy / Electric utilityAgreedUndisclosed
- 23 Apr 2026Helix and Hornbeck Offshore agree all-stock combinationHelix Energy Solutions Group, Inc. → Hornbeck Offshore Services, Inc.Energy / Offshore servicesCompletedUndisclosed
- 23 Apr 2026Apollo agrees to buy KKR's 40% stake in Pembina Gas InfrastructureApollo funds → Pembina Gas Infrastructure Inc. (40% stake)Energy / Gas processingAgreedUndisclosed
- 21 Apr 2026Enagás agrees €573m deal for 31.5% of TerégaEnagás, S.A. → Teréga (31.5% stake)Energy / Gas transmission and storageCompleted$674m
- 17 Apr 2026Premier Energy agrees €700m deal for EvryoPremier Energy PLC → Evryo Group (Distribuție Energie Oltenia)Energy / Electricity distributionAgreed$830m
- 16 Apr 2026Marubeni buys 85% of Factorenergia for €204mMarubeni Corporation (SmartestEnergy Limited) → Factor Energia, S.A. (85%)Energy / Power and gas retailCompleted$240m
- 6 Apr 2026ECP agrees to buy back nuclear services group EnergySolutionsEnergy Capital Partners (ECP) → EnergySolutionsEnergy / Nuclear servicesAgreedUndisclosed
- 2 Apr 2026Masdar and TotalEnergies agree US$2.2bn Asian renewables mergerMasdar (Abu Dhabi Future Energy Company) → TotalEnergies' onshore renewables in nine Asian countries (50% JV)Energy / Renewable powerAgreed$2.2bn
- 25 Mar 2026Brookfield and La Caisse take Boralex private in C$9bn dealBrookfield Asset Management and La Caisse → Boralex Inc.Energy / Renewable powerCompleted$6.5bn
- 16 Mar 2026Petrobras pre-empts Brava with US$450m deal for Petronas's Campos Basin stakesPetróleo Brasileiro S.A. (Petrobras) → Petronas's 50% stakes in Tartaruga Verde and Espadarte Module IIIEnergy / Offshore oil and gasAgreed$450m
- 12 Mar 2026ArcLight buys InfraBridge's half of 5.4GW Invenergy power portfolioArcLight Capital Partners → Invenergy AMPCI Thermal Power (InfraBridge's 50% stake)Energy / Gas-fired power generationAgreedUndisclosed
- 2 Mar 2026GIP and EQT agree $33.4bn take-private of AESGlobal Infrastructure Partners and EQT Infrastructure VI (with CalPERS and QIA) → The AES CorporationEnergy / Power generation and utilitiesAgreed$33.4bn
- 25 Feb 2026Engie agrees £10.5bn deal for UK Power NetworksENGIE SA → UK Power NetworksEnergy / Electricity distributionCompleted$14.2bn
- 21 Feb 2026Enel agrees US$1bn deal for Excelsior's US wind and solar plantsEnel S.p.A. (Enel Green Power North America) → Excelsior Energy Capital US wind and solar portfolio (830MW)Energy / Renewable powerIn review$1bn
- 17 Feb 2026Portland General agrees US$1.9bn deal for PacifiCorp's Washington utilityPortland General Electric Company → PacifiCorp (Washington utility operations)Energy / Electric utilitiesIn review$1.9bn
- 12 Feb 2026CPP Investments agrees $3.4bn Peru power deal with I SquaredCPP Investments and I Squared Capital continuation vehicle → Inkia EnergyEnergy / Power generationCompleted$3.4bn
- 9 Feb 2026Transocean agrees US$5.8bn all-stock deal for ValarisTransocean Ltd. → Valaris LimitedEnergy / Offshore drillingIn review$5.8bn
- 5 Feb 2026Kodiak Gas agrees US$675m deal for Distributed Power SolutionsKodiak Gas Services, Inc. → Distributed Power Solutions, LLCEnergy / Distributed power generationCompleted$675m
- 2 Feb 2026Devon and Coterra agree all-stock shale mergerDevon Energy Corporation → Coterra Energy Inc.Energy / Oil and gas exploration and productionCompleted$21.4bn
- 29 Jan 2026Carlyle's deal for Lukoil's foreign assets lapses without US approvalThe Carlyle Group → LUKOIL International GmbHEnergy / Oil and gasTerminatedUndisclosed
- 19 Jan 2026MOL signs binding outline deal for Gazprom Neft's NIS stakeMOL Group → NIS (Naftna Industrija Srbije) - 56.15% stakeEnergy / Oil refining and fuel retailIn talksUndisclosed
- 16 Jan 2026Mitsubishi agrees US$7.5bn Haynesville gas deal with AethonMitsubishi Corporation → Aethon III LLC and Aethon United LP (Haynesville business)Energy / Shale gasCompleted$7.5bn
- 15 Jan 2026Talen agrees US$3.45bn deal for ECP's Ohio and Indiana gas plantsTalen Energy Corporation → Cornerstone Generation (Waterford, Darby and Lawrenceburg plants)Energy / Power generationCompleted$3.5bn
- 5 Jan 2026Vistra agrees US$4bn deal for Cogentrix gas fleetVistra Corp. → Cogentrix EnergyEnergy / Power generationIn review$4bn