A&D DEAL SHEET
|
|||||
Sector |
Date |
Buyer |
Seller |
Value |
Comments |
E&P |
7/29/19 |
Osaka Gas Co. Ltd. |
Sabine Oil & Gas Corp. |
$610 |
To acquire Houston-based Sabine, which has a 175,000-net acre position in the Haynesville and Cotton Valley shale plays across E TX; production is 210 MMcfe/d. |
E&P |
7/30/19 |
Equinor ASA |
Royal Dutch Shell Plc; Shell Offshore Inc. |
$965 |
Acquired, through an exercise of preferential rights, an additional 22.45% interest in the Caesar Tonga deepwater US GoM field within the Green Canyon area; boosts Equinor's interest to 46% from 23.55%. (Completed; PSA announced May 13) |
Down |
7/30/19 |
Ontario Power Generation Inc. |
TC Energy Corp |
$2,870 |
To buy the 683-MW Halton Hills power plant, the 900-MW Napanee generating station that is nearing completion and TC Energy's 50% stake in the 550-MW Portlands Energy Centre, all located in Ontario, Canada. (Expected to close late 2019) |
Mid |
7/30/19 |
Prostar Capital |
NuStar Energy LP |
$250 |
Bought the storage terminal facility in St. Eustatius located in the Caribbean consisting of 60 commercial tanks and associated deepwater jetties and pipelines, with a total storage capacity of 2.3 million cubic meters. |
E&P |
7/30/19 |
Bedrock Energy Partners LLC |
Harvest Oil & Gas Corp. |
$72 |
To buy substantially all of Harvest's interests in the Barnett Shale, which comprise a roughly 28% WI in 164,276 gross (40,658 net) acres across N TX, over 90% of which is nonoperated; production in 1Q 2019 averaged 55.6 MMcfe/d. (Expected to close 3Q 2019) |
E&P |
7/30/19 |
Viper Energy Partners LP |
Diamondback Energy Inc. |
$700 |
To acquire through a dropdown 5,090 net royalty acres across the Permian's Midland and Delaware basins, over 95% of which is Diamondback-operated. (Expected to close 4Q 2019) |
Mid |
7/31/19 |
Altus Midstream Co. |
Enterprise Products Partners LP |
N/A |
Acquired a 33% equity interest in the Enterprise subsidiary that owns the Shin Oak pipeline that transports NGL production from multiple basins, including the Permian, to Mont Belvieu, TX. |
E&P |
7/31/19 |
Continental Resources Inc. |
Undisclosed |
$79.5 |
Acquired additional leasehold in the Scoop play adding up to 150 gross operated Woodford and Sycamore locations. |
E&P |
7/31/19 |
Ecopetrol SA |
Occidental Petroleum Corp. |
$1,500 |
Formed JV to develop 97,000 net acres within the Permian's Midland Basin in W TX; Ecopetrol purchased a 49% stake for $750 MM cash plus $750 MM of carried capital. |
Mid |
7/31/19 |
Lagoon Water Solutions LLC |
Continental Resources Inc. |
$85 |
Purchased a water gathering and recycling system in the Stack play in Blaine County, OK; includes long-term agreement for water sourcing, gathering and disposal services. |
E&P |
7/31/19 |
Norwegian Energy Co. ASA (Noreco) |
Royal Dutch Shell Plc; Shell Overseas Holdings Ltd. |
$1,900 |
Bought Shell's upstream Denmark assets; includes 36.8% nonoperating interest in the Danish Underground Consortium (DUC), a JV focused in the Danish North Sea. (Completed; PSA announced October 2018) |
Mid |
7/31/19 |
Solaris Water Midstream LLC |
Concho Resources Inc. |
N/A |
Formed a JV to focus on produced water logistics at scale in the Northern Delaware Basin located primarily in Eddy County, NM; includes a long-term produced water management. |
E&P |
7/31/19 |
Undisclosed |
Whiting Petroleum Corp. |
$53 |
To purchase, in multiple agreements, nonoperated properties comprising 6,800 net acres in the Rockies/Williston Basin and production of 703 boe/d as of April 2019. (Expected to close 3Q 2019) |
Mid |
8/1/19 |
UGI Energy Services LLC; UGI Corp. |
TC Energy Corp. |
$1,275 |
Purchased the Columbia Midstream Group subsidiary, which owns five gathering systems in the SW core of the Appalachian Basin comprising 240 miles of pipeline and 2,675,000 MMBtu/d of capacity. (Completed; PSA announced July) |
E&P |
8/1/19 |
Undisclosed |
Gulfport Energy Corp. |
$54 |
Bought S LA assets with net production averaged 1,500 boe/d; Gulfport retained ORRI. (Closed July 3) |
E&P |
8/2/19 |
Alliance Resource Partners LP |
Wing Resources LLC; Natural Gas Partners LP (NGP) |
$145 |
Bought oil and gas mineral interests in the Permian Basin from Dallas-based Wing, which holds more than 200,000 gross acres with interest in over 4,000 wells throughout the Midland and Delaware basins. (Completed; PSA announced June) |
Mid |
8/5/19 |
Delek US Holdings LP; MPLX LP; Rattler Midstream LP |
Exxon Mobil Corp.; Lotus Midstream LLC; Plains All American Pipeline LP |
N/A |
Acquired stakes in the Wink to Webster crude oil pipeline project serving Permian Basin producers in W TX; Delek US purchased a 15% ownership interest ranging from $340 MM to $380 MM. |
E&P |
8/6/19 |
Amplify Energy Corp. |
Midstates Petroleum Co. Inc. |
$512 |
Acquired Midstates through a merger; combined company portfolio includes CA, E TX/N LA, S TX's Eagle Ford and OK's Mississippian Lime. (Completed; PSA announced May) |
Mid |
8/6/19 |
Caliber Midstream Holdings LP; Triangle Petroleum Corp.; BlackRock Inc. |
American Midstream Partners LP; ArcLight Capital Partners LLC |
N/A |
Purchased crude oil gathering and pipeline transportation system in McKenzie County, ND, serving Bakken shale producers within the Williston Basin. |
S&S |
8/6/19 |
Drillinginfo Inc. |
RigData; S&P Global Platts |
N/A |
Purchased RigData, a service provider supplying customers in North America with daily electronic reports on drilling permits, activity and rig locations in the US, GoM and Canada. |
S&S |
8/6/19 |
Profire Energy Inc. |
Midflow Services LLC |
$6.5 |
Bought Millersburg, OH-based Midflow Services, which specializes in upstream and midstream oil and gas production equipment. (Closed Aug. 5) |
Source: HartEnergy.com |
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.
Recommended Reading
BP’s Kate Thomson Promoted to CFO, Joins Board
2024-02-05 - Before becoming BP’s interim CFO in September 2023, Kate Thomson served as senior vice president of finance for production and operations.
Magnolia Oil & Gas Hikes Quarterly Cash Dividend by 13%
2024-02-05 - Magnolia’s dividend will rise 13% to $0.13 per share, the company said.
TPG Adds Lebovitz as Head of Infrastructure for Climate Investing Platform
2024-02-07 - TPG Rise Climate was launched in 2021 to make investments across asset classes in climate solutions globally.
HighPeak Energy Authorizes First Share Buyback Since Founding
2024-02-06 - Along with a $75 million share repurchase program, Midland Basin operator HighPeak Energy’s board also increased its quarterly dividend.
Occidental Increases Annual Dividend by 22%
2024-02-11 - Occidental Petroleum Corp.’s newly declared dividend is at an annual rate of $0.88 per share, compared to the previous annual rate of $0.72 per share.