For deal sourcers, staying current on private company activity is critical to spotting active buyers, tracking market trends, and uncovering emerging investment opportunities ahead of competitors.
In November alone, we added more than 4,000 new private company transactions, bringing the total to over 13,000 searchable deals across sectors, industries, and transaction types in Dakota Marketplace.
Inside Dakota Marketplace, you’ll find the transactions tab that provides structured, filterable data on deal types, values, and dates, while our editorial team curates daily updates through the Dakota transactions newsletter, helping you cut through the noise and focus on what matters most.
To ensure the most comprehensive coverage of private market activity, Dakota monitors over 10,000 websites including company websites, newswires, and numerous third-party news providers to capture and verify transaction data as it happens.
Below are the top energy transactions.
1. Parkland Corporation - Take-Private / Public-to-Private
- Transaction Date: 11/3/2025
- Industry: Oil & Gas & Consumable Fuels
- Type: Buyout / Private Equity
- Transaction Value: $9.1B
- Participants: Parkland Corporation, Sunoco LP, Barclays Investment Bank, RBC Capital Markets Investment Banking, Stikeman Elliott LLP, Weil Gotshal & Manges LLP, Vinson & Elkins LLP, The Goldman Sachs Group Inc, BofA Securities, Inc., BMO Capital Markets, Norton Rose Fulbright, and Torys LLP
Sunoco has completed its acquisition of Parkland Corporation, a transaction valued at roughly $9.1 billion, marking a significant expansion of its North American fuels and convenience retail platform. Parkland’s shares will be delisted from the Toronto Stock Exchange, and newly issued SunocoCorp LLC common units received by Parkland shareholders will begin trading on the NYSE under the ticker “SUNC” on November 6, 2025.
2. NuVista Energy - Strategic Acquisition
- Transaction Date: 11/4/2025
- Industry: Oil & Gas & Consumable Fuels
- Type: Acquisition / Merger
- Transaction Value: $2.7B
- Participants: Blake, Cassels & Graydon LLP, Ovintiv Inc, NuVista Energy Limited, Morgan Stanley, J.P. Morgan Securities LLC, Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Gibson Dunn & Crutcher LLP
Ovintiv will acquire NuVista Energy for approximately $2.7 billion in cash and stock, adding 140,000 net acres, about 100 MBOE/d of production, and roughly 930 high-quality Montney drilling locations that materially expand its oil-weighted footprint and free cash flow outlook. The deal is immediately accretive across key financial metrics, delivers about $100 million in annual synergies, and pairs with Ovintiv’s planned divestiture of its Anadarko assets to strengthen the balance sheet and accelerate shareholder returns.
3. U.S. Eagle Ford assets - Asset Purchase
- Transaction Date: 11/12/2025
- Industry: Oil & Gas & Consumable Fuels
- Type: Acquisition / Merger
- Transaction Value: $2.31B
- Participants: RBC Capital Markets, Baytex Energy Corp, Vinson & Elkins LLP, and Burnet, Duckworth & Palmer LLP
Baytex will sell its U.S. Eagle Ford assets to an undisclosed buyer for US$2.305 billion in cash (about C$3.25 billion), transforming the company into a focused, higher-return Canadian producer. Proceeds will be used to move to a net cash balance sheet, repay credit facilities and notes, and fund disciplined growth and enhanced shareholder returns from its core Canadian heavy oil and Duvernay assets.
4. UK’s Grain LNG terminal - Asset Purchase
- Transaction Date: 11/28/2025
- Industry: Oil & Gas & Consumable Fuels
- Type: Real Assets
- Transaction Value: $2B
- Participants: Centrica plc, Energy Capital Partners, National Grid, Slaughter and May, and Latham & Watkins LLP
ECP and Centrica have completed their £1.5 billion acquisition of Grain LNG, Europe’s largest LNG regasification terminal, securing a long-term, inflation-linked infrastructure asset critical to the UK’s energy security. The deal positions the partners to enhance and expand the terminal as it undergoes a major capacity increase, enabling it to supply up to one-third of the UK's gas demand once the expansion is complete.
5. Permian and Eagle Ford midstream assets - Asset Purchase
- Transaction Date: 11/3/2025
- Industry: Oil & Gas & Consumable Fuels
- Type: Real Assets
- Transaction Value: $1.5B
- Participants: BP p.l.c., Sixth Street, Morgan Stanley, and Hunton Andrews Kurth LLP
bp will sell non-controlling interests in its Permian and Eagle Ford midstream assets to Sixth Street for $1.5 billion, unlocking capital while retaining operatorship and strategic control of these key infrastructure systems. The transaction supports bp’s goal of generating $20 billion in divestment proceeds by 2027 and strengthens its balance sheet as it continues investing in its US onshore portfolio.
6. X-Energy Reactor Company - Series D
- Transaction Date: 11/24/2025
- Industry: Oil & Gas & Consumable Fuels
- Type: Growth Equity
- Transaction Value: $700M
- Participants: Jane Street Group LLC, ARK Investment Management, Galvanize Climate Solutions, Hood River Capital Management, Point72 Asset Management, Reaves Asset Management, XTX Markets, Ares Management, Corner Ventures, Emerson Collective LLC, NGP, Segra Capital Management, and Latham & Watkins LLP
X-energy has closed an oversubscribed $700 million Series D financing round led by Jane Street, with participation from major new and existing investors, to accelerate commercialization of its Xe-100 advanced small modular reactor and TRISO-X fuel. The funding will support expansion of its supply chain and project pipeline, which now represents more than 11 GW of planned deployments with partners including Dow, Amazon, and Centrica.
7. Viper Energy’s Non-Permian Assets - Carve-Out / Divestiture
- Transaction Date: 11/3/2025
- Industry: Oil & Gas & Consumable Fuels
- Type: Buyout / Private Equity
- Transaction Value: $670M
- Participants: GRP Royalty Holdings LLC, Warwick Capital Partners, Viper Energy Partners LP, and Diamondback Energy Inc
Viper Energy will divest its non-Permian assets for $670 million, streamlining the business around its core Permian mineral and royalty portfolio and advancing its plan to reach a $1.5 billion net debt target while increasing cash returns to shareholders. The sale follows Viper’s acquisition of Sitio Royalties and supports continued production growth, stronger free cash flow margins, and an enhanced return-of-capital framework heading into 2026.
8. American Well Services - Carve-Out / Divestiture
- Transaction Date: 11/10/2025
- Industry: Energy Equipment & Services
- Type: Buyout / Private Equity
- Transaction Value: $90.5M
- Participants: Piper Sandler & Co., Ranger Energy Services Inc, Argonaut Private Capital, King & Spalding LLP, and Sofos Law
Ranger Energy Services has acquired American Well Services for approximately $90.5 million, expanding its rig fleet by about 25% and establishing Ranger as the largest well-servicing provider in the Lower 48. The deal is immediately accretive, brings new complementary service lines, and is expected to lift pro forma EBITDA above $100 million while supporting continued shareholder returns and maintaining low leverage.
9. Greenfire Resources - Strategic Acquisition
- Transaction Date: 11/12/2025
- Industry: Oil & Gas & Consumable Fuels
- Type: Acquisition / Merger
- Transaction Value: $40.73M
- Participants: Waterous Energy Fund Management (US)
Waterous Energy Fund has acquired 8.7 million additional shares of Greenfire Resources for C$57 million, increasing its ownership from 55.9% to approximately 68.3% of the company. WEF indicated it may further adjust its stake or pursue strategic actions depending on market conditions, Greenfire’s performance, and other investment considerations.
10. Mine Vision Systems - Series A
- Transaction Date: 11/4/2025
- Industry: Energy Equipment & Services
- Type: Venture
- Transaction Value: $12.5M
- Participants: Condire Investors and Rockwell Venture Capital
Mine Vision Systems has raised $12.5 million in an oversubscribed Series A round led by Rockwell Venture Capital with participation from Condire Investors, enabling the company to accelerate development and deployment of its vision-driven mapping and decision platform for underground mining. The funding will support expanded R&D, broader rollout of its FaceCapture technology, and strengthened customer success as demand for advanced underground analytics continues to grow.
Transactions in Dakota Marketplace
At Dakota, we understand how important it is to stay current on deal activity as it happens. That’s why our editorial team continuously monitors the news for real-time updates on platform investments, add-ons, divestitures, and more to deliver daily highlights straight to your inbox through our transactions newsletter.
Inside Dakota Marketplace, the transactions tab provides structured, filterable data with deal dates, types, sectors, and financials, allowing you to build a customized feed that aligns with your focus areas.
Whether you're evaluating a new investment opportunity or tracking trends within a target sector, Dakota Marketplace helps you cut through the noise and focus on what matters most.
For more information on these transactions and a deeper dive into their industries and sub-industries, book a demo of Dakota Marketplace.
