A&D DEAL SHEET
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Sector |
Date Announced |
Buyer |
Seller |
Value (US$MM) |
Comments |
|
S&S |
4/1/19 |
Centurion Group Ltd. |
Tango Delta Rentals Ltd. |
N/A |
Acquired Canadian communications and specialty equipment rentals business Tango Delta Rentals, which operates in the Western Canadian Sedimentary Basin. |
|
E&P |
4/8/19 |
Callon Petroleum Co. |
Undisclosed |
N/A |
Acquired two incremental long-lateral DSUs (167 net acres) within the Midland Basin of the Permian in Howard County, TX, in exchange for low WI properties in Midland County, TX. |
|
E&P |
4/8/19 |
The Carlyle Group LP |
Compañía Española de Petróleos SAU (Cepsa); Mubadala Investment Co. PJSC |
4,800 |
To acquire between 30% and 40% of Spanish energy company Cepsa, Europe's largest privately-owned oil and gas company. (Expected to close year-end 2019) |
|
Mid |
4/8/19 |
Engie SA; Caisse de Dépôt et Placement du Québec (CDPQ) |
Petróleo Brasileiro SA (Petrobras) |
8,600 |
To buy a 90% stake in Petrobras' TAG pipeline unit, which accounts for 47% of Brazil's entire gas infrastructure. |
|
Renew |
4/8/19 |
Tokyo Gas Co. Ltd. |
Engie SA |
N/A |
Purchased a 50% stake in Engie's renewable company in Mexico that owns and operates six solar and wind power projects. |
|
E&P |
4/8/19 |
Undisclosed |
Callon Petroleum Co. |
320 |
To purchase Ranger operating position within the Midland Basin of the Permian comprising 85% WI in 9,850 net Wolfcamp acres averaging about 4,000 boe/d (52% oil) of production; purchase price includes contigency payments tied to oil prices of up to $60 MM. |
|
Mid |
4/10/19 |
Crestwood Equity Partners LP |
The Williams Cos. Inc. |
484.6 |
Bought Williams' operated 50% interest in Jackalope Gas Gathering Services, a Powder River Basin JV between the companies in Converse County, WY. |
|
Mid |
4/10/19 |
Equitrans Midstream Corp.; EQM Midstream Partners LP |
Eureka Midstream Holdings LLC; Hornet Midstream Holdings LLC |
1,030 |
Purchased 60% of Eureka Midstream and 100% of Hornet Midstream, Appalachia gas gathering systems averaging about 1.6 Bcf/d of gathered volume from 200,000 dedicated acres in the core Marcellus and Utica across OH and WV. (Completed; PSA announced March 14) |
|
S&S |
4/11/19 |
Acteon Group Ltd. |
Benthic |
N/A |
To acquire offshore marine geotechnical and geophysical survey company Benthic based in Houston. (Expected to close May) |
|
E&P |
4/11/19 |
Delek Group Ltd. |
Royal Dutch Shell Plc; Shell Offshore Inc. |
965 |
To purchase Shell's 22.45% interest in the Caesar-Tonga, a deepwater oil field offshore LA in the US GoM currently producing 71,000 gross boe/d (90% oil). (Expected to close 3Q 2019) |
|
S&S |
4/11/19 |
EnscoRowan Plc; Ensco Plc |
Rowan Cos. Inc. |
2,400 |
Acquired the London-based offshore driller in an all-stock transaction. |
|
E&P |
4/11/19 |
Maverick Natural Resources LLC |
Undisclosed |
N/A |
Purchased remaining 50% nonoperated WI producing properties in the Overton Field in E TX including about 7,600 net acres and 2,700 net boe/d (28% liquids); Maverick currently operates the field. |
|
E&P |
4/11/19 |
Ring Energy Inc. |
Wishbone Energy Partners LLC; Quantum Energy Partners |
300 |
Purchased Wishbone’s North Central Basin Platform assets in the Permian comprising 49,754 gross (37,206 net) acres of mostly contiguous leasehold located primarily in SW Yoakum County, TX, and E Lea County, NM, with an average net production of 6,000 boe/d. (Completed; PSA announced Feb. 26) |
|
E&P |
4/12/19 |
Chevron Corp. |
Anadarko Petroleum Corp. |
48,000 |
To acquire The Woodlands, TX-based independent E&P with assets across the globe including the Permian Basin, D-J Basin, deepwater US GoM, offshore Africa and Mozambique LNG; includes 200 MM shares, $8 B cash plus assumption of $15 B net debt. |
|
Mid |
4/15/19 |
Concho Resources Corp. |
Frontier Midstream Solutions IV LLC; Frontier Energy Services LLC |
N/A |
Formed 50/50 JV to build Beta Crude Connector LLC, a new gathering and transportation system in the Midland Basin with initial capacity of 150,000 bbl/d of crude oil; Frontier will serve as operator. |
|
E&P |
4/15/19 |
Entek Energy Ltd. |
Emerald House LLC; Elixir Petroleum Ltd. |
3 |
Bought Emerald, which has a position in AK's North Slope covering 35,423 acres. (Completed; PSA announced Feb. 1) |
|
E&P |
4/15/19 |
Government of Timor-Leste |
ConocoPhillips Co. |
350 |
Bought ConocoPhillips' 30% stake in the Greater Sunrise Fields off the southern coast of East Timor. (Completed; PSA announced October 2018) |
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Source: Hart Energy |
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For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
Emily Patsy can be reached at epatsy@hartenergy.com.
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