Oil and Gas Assets for Sale

SPECIAL REPORT (February 13, 2026)

Transocean Acquires Valaris

OFFSHORE GHOSTS NOW A RATE REAPER

$5.8 B: All Stock, 15.2 RIG shares per 1 VAL

Valaris Formed via ENSCO + ROWAN (2019)

Now 33 Drillships, 9 Semis, 31 Jackups

$10B Backlog ($5.9B RIG + $4.1B VAL)

Jackups Getting $130,000 Day Rate

Plans Offshore Drilling Multi-Year Upcycle

Says +156% In Deepwater Sanctions by 2027

Plans $200MM Synergies By 2028

Plus 50% Leverage Improvement In 24 mos.

Both Stocks Jump on Deal News

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RS 2526DA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

SPECIAL REPORT(S) (February 2026)

Coterra And Devon Merge

3-PART CONTINUING SERIES

CTRA Takes Chairman, DVN Gets CEO

HQ: Houston, OK City Maintains Presence

Devon Gets Control Of 11 Person Board

What's 1+1? Risky Arithmetic?

1.6 MMBoepd (34% Oil, 22% NGLs, 34% Oil)

Top OXY, EOG, COP Lower 48

Delaware Basin (863,000 Boepd)

746,000 Net Acres (>10 Years Inventory)

+Marcellus, Anadarko, Rockies, Eagle Ford

Synergies of $1.0B/Year by YE 2027

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RS 2525DA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

SPECIAL REPORT (JAN 21, 2026)

Mitsubishi Buys Aethon

The Empire Buys Back - Haynesville

$7.5B: $5.2B Cash Plus $2.3B Debt

Now #2 Haynesville, Behind Expand

2.1 Bcfpd Net (2.6 Bcfpd Gross)

~380,000 Net Acres

Mitsubishi's Largest Investment On Record

New Name: Adamas Energy

Albert Huddleston Named CEO

Aethon Mngt Option To Buyback 25%

Japanese Now Control ~30% of Haynesville

Mitsubishi, Tokyo Gas, Osaka, JERA

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RS 2524DA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

DEAL PERSPECTIVES (MEDIA VERSION)

Quick 10 Pages Of The Full 28 Page Report

$23.5B IN 4Q25 - UP FROM $10.8B IN 3Q

Deals Decrease To 21 From 34 In 3Q

Close to the 24 Deals/Qtr Avg. Since 2022

SM buys Civitas Via Merger For $7.7B

Harbour Enters Gulf of America For $3.2B

Stone Ridge Buys Baytex's EF For $2.3B

JERA Buys Haynesville For $1.5B

JAPEX Starts Ops In DJ For $1.3B

P/E Hunting With 15+ Teams And >$5B

International Buyers Increasingly Active

Consolidation Continuing

CONTACT EAG FOR FULL 28 PAGE REPORT

RS 2523MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

SPECIAL REPORT (DEC 24, 2025)

$3.2B: $2.7B Cash Plus $0.5B Equity

Enters U.S. Gulf At Scale With Operations

34,000 Boepd WI (~80% Oil)

27,600 Boepd Net (est. 18.75% Royalty)

3 Deepwater Hubs (~90% Of Assets)

Keathley Canyon and Mississippi Canyon

Production Doubling By 2028

Harbour Has Been Seeking Right Entry

LLOG Offers Growth And Successful Team

500 MMboe of Resources (2P + 2C)

Adds to North Sea, Argentina, Mexico Gulf

Brings Harbour Vols to 500,000 Boepd

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RS 2522DA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

PERMIAN POWER TRIBUNAL + DEALS

Insight, Clarity, Analysis

FANG, GRNT, JAPEX, KIMMERIDGE

Also America & China Power Race

Latest Permian Gas to Power Threesome

Granite Ridge - The Other NonOp

JAPEX Buys DJ's Verdad For $1.3 Billion

35,000 Boepd (70% liq) - Starts Operations

Kimmeridge Bids $6B For Ascent Resources

AR is Appalachia's #4, Owner Legal Fight

US & China Approaches to Power

China Consumers Pay Single Digits per kWh

The Grid, Not Gadgets, May Decide Winner

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RS 2521MM

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

SPECIAL REPORT (DEC 15, 2025)

Appalachia M&A Running Hot

DEALS UP >6X OVER 2024

Press Time: Kimmeridge Bids $6B for Ascent

Lawsuit Details: Ascent & Continuation Fund

Antero's Buy And Sale $5.1B

Now Pure Play West Virginia Players

Infinity And NOG Team Up In Utica

Quantum Cashes In With HG Energy Sale

Backing Ex-Tug Hill Team With Vickery

Vickery Might Be Buyer Of Tribune

Appalachia Vols 36.6 Bcfpd, Running 30 Rigs

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RS 2520DA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

UNCONVENTIONALLY CONVENTIONAL!

July 2025, 90-Page Report

LOWER 48 ONSHORE VERTICAL

Seven U.S. Regions

M&A, E&P, Capital Markets

Total: 13.4 Bcfpd & 1.2 MMBopd

Privates: 9.3 Bdfpd & 633 MBopd

Publics: 4.1 Bcfpd & 533 MBopd

~10,000 Private Operators

Just ~1,300 Privates produce >100 Boepd

Top 35 Privates - 12 are Family Owned

Quantum & Kayne Anderson Active in P/E

San Andres, Strawn, Yeso Next Wave

LOGIN TO DOWNLOAD FULL 90-PG STUDY

RS 2507RG

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

Intel, E&P Deals, Strategic Moves

Insight, Clarity, Analysis

AI Race Parallels Shale Beginnings

Natural Gas Breaks $5 Handle

BKV Powers Up - Molecules to Electrons

Kimmeridge Targets Coterra, Seeks Pure-Play

Ovintiv Puts >100,000 BOEPD For Sale

Repsol Upstream And APA Talks

Continental Resources Enters Vaca Muerta

Baytex Exits US, Refocuses on Canada Home

Highlander Drilling Ahead At 27,399'

Grayrock Buys Terryville For $255MM

SM + Civitas Selling $1B+ In A Year

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RS 2519MM

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

SPECIAL REPORT (NOV 17, 2025)

Confirmed: Stone Ridge is Buyer

BAYTEX EXITS EAGLE FORD AND U.S.

$2.3 Billon, All Cash

82,865 BOEPD (64% Oil, 19% NGLs, 17% Gas)

Mix of Op & NonOp

NonOp Karnes Trough (25% WI Under COP)

Operated Legacy Ranger Oil

Baytex Pivots Home to Canada Oil

Sale Wipes Out Debt, Provides Dry Powder

Now Has 65,650 BOEPD Canada Vols

Plans 3-5% Annual Growth

Pembina Duvernay Ramping Up ($45 BE)

CLICK TO DOWNLOAD 13 PAGE REPORT

RS 2518DA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

AI, MIDSTREAM, COAL & A&D

And A Flurry of Upstream Deals

PIPE DREAMS, IRONY UNPLUGGED

Midstream Sees Growth From Power Needs

War On Coal Over!?

4Q Deals Up 35% Over 3Q - In Just 5 Weeks

BP Sells Midstream NonOp For $1.5B

Williams: 75% Of CAPEX To Growth Capital

Coal Keeping AI Plugged In

Coal-To-Gas Conversions Running Hot

SM Merges With Civitas: Scale Play

Ovintiv Buys NuVista, Anadarko For Sale

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RS 2517MM

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

SPECIAL REPORT (OCT 30, 2025)

JERA Enters With $1.5B Buy From GEP HV II

HAYNESVILLE DEALS INCREASING

Rockcliff III Buys From Pine Wave

EQV Buys Amplify's Haynesville, E. TX

EXPAND Enters Western Haynesville

Aethon Has A Prized #2 Position

Japanese Firms Now Control 15%

Tokyo Wants More Due To LNG Needs

LNG Feedgas Rising Quickly - Now 17 Bcfpd

Expect Nearly 100% LNG Increase by 2029

EXPAND Says $2.75 Breakeven

Comstock OPEX $0.80 per Mcfe

CLICK TO DOWNLOAD 11-PAGE REPORT

RS 2516DA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

AI, POWER & "DEEP VALUE" MAJORS

Natural Gas is Preferred Power Source

SUPER MAJORS ARE IN THE GAME

Up to 5 Bcf/d in Next Four Years

EXXON Leveraging CCUS Assets

Chevron Planning 4GW Power Plant

Utilities and IPPs Becoming FOMO names

Nuclear Realistically a Decade Out

Data Center Power Needs up 4X in Ten Years

Some "Story Stocks" Revenues Years Away

Majors Own Commodity and Pivoting

US Needs ~15% More Power Capacity

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RS 2514MM

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

SPECIAL REPORT (OCT 14, 2025)

Media Reporting BTE Exploring EF Sale

BAYTEX POTENTIAL EAGLE FORD EXIT

82,000 BOEPD (81% liquids)

178,000 Net Acres, 800 Risked Locations

Karnes Trough NonOp (Now Under COP)

And Op. via Ranger Oil Buy ($2.6B, 2023)

Sale Would Mark Return Home to Canada

Media Reports Up To $3B Potential Value

Sale Would Wipe Out All Debt, Strategy Shift

Baytex Ranks #11 Top Eagle Ford Operator

Baytex has Growth Pembina Duvernay

Also Cash Flow from Canada Heavy Oil

CLICK TO DOWNLOAD 7-PAGE REPORT

RS 2513DA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

DEAL PERSPECTIVES (MEDIA VERSION)

Quick 10 Pages of the Full 25 Page Report

$9.6B IN 3Q25 - DOWN FROM $13.6B IN 2Q

Deals Increase to 22, Up From 16 in 2Q

Close to the 23 Deals/Qtr Avg. Since 2022

Crescent Energy pays $3.6B for Vital

CRC buys Berry Petroleum for $717MM

Stone Ridge Buys COP's Anadarko for $1.3B

MACH Pays $1.3B for Conventional PDP

Hungry Buyer Universe

Minerals and NonOp Continue HOT

Consolidation Ongoing, More Coming

PDP and Conventional Assets Strong

CONTACT EAG FOR FULL 25 PAGE REPORT

RS 2512MA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

SPECIAL REPORT (SEPT 18, 2025)

California Resources Buying Berry Corp.

CRC JUMPS AS CALIFORNIA REFORMS

Pays 15% Premium To Secure Deal

$717MM: $309MM Equity + $408MM Debt

24,300 BOEPD (92% Oil, 2% NGLs, 6% Gas)

120,000 Net Acres, 20,000 in California

Now Produces ~50% of California Oil

Berry's Uinta Assets Give An "Option"

Some Analysts Expect Uinta 2026 Sale

CRC Closed $2.1B AERA Buy July 2024

Golden State Reverses Anti-Oil Stance

Will Approve 2,000 Permits Annually

CLICK TO DOWNLOAD 6-PAGE REPORT

RS 2510DA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

LETTER FROM DALLAS

Update On A&D Marketplace

HIGHLIGHTS FROM A&D CONFERENCE

It's A Sellers Market!

Hot Minerals and NonOp Sectors!

Will Public Markets Continue Shrinking?

Gas Buying Strong!

Update On Private Equity Action...

ABS Funding Driving PDP Consolidation

Delaware Primed For More Consolidation

Average Shale Breakevens $50-$60

Conventional Consolidation Players

Exploration Making a Comeback?

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RS 2503MM

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

SPECIAL REPORT (SEPT 3, 2025)

Crescent Energy Buying Vital Energy

CREATES PERMIAN AS THIRD CORE

Pays 15% Premium To Secure Deal

$3.05B Via $750MM Equity + $2.3B Debt

138,000 BOEPD (45% Oil, 28% NGLs)

285,000 Net Acres, ~1,000 Locations

Vaults Crescent to Top 10 Pubic E&Ps

Deals Adds to Eagle Ford, Uinta Core

CRGY also shows >$40B in Permian Targets

And >$20B in Eagle Ford Growth Targets

Crescent Soon Selling $1B Non-Core Legacy

Legacy is in WY EOR, Barnett, DJ & Anadarko

CLICK TO DOWNLOAD 9-PAGE REPORT

RS 2509DA

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com

LETTER FROM DENVER

Key Takeaways & Curated Slides

HIGHLIGHTS FROM ENERCOM

Global Oil Demand is NOT Going Away

Companies Stress Testing Lower Oil Prices

We Need To Put The "E" Back In E&P

A&D Active To Strengthen Portfolios

E&P Optimizing For Stronger Economics

OFS Innovating Water, P&A Solutions

Canada Sees Deep Basin IRRs > 50%

International New Activity & Hot Spots

-Namibia, Columbia & Guyana

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RS 2501MM

Energy Advisors Group

Mr. Blake Dornak

VP - Marketing

4265 San Felipe Street Ste 650

Houston, TX 77027

Phone: 713-600-0123

Email: bdornak@energyadvisors.com