A&D DEAL SHEET |
|||||
Sector |
Date |
Buyer |
Seller |
Value |
Comments |
Mid |
11/18/19 |
NextEra Energy Partners LP |
Cabot Oil & Gas Corp.; Ares Management Corp.; WGL Holdings Inc. |
$1,370 |
Purchased Meade Pipeline, which owns a 39.2% stake in the Central Penn intrastate natgas pipeline that serving the Marcellus region. (Completed; PSA announced September 2019) |
S&S |
11/19/19 |
WolfePak Software; Charlesbank Capital Partners LLC |
DocVue |
N/A |
Purchased Morrison, CO-based DocVue, a provider of imaging, document management and workflow software for the oil and gas industry. |
S&S |
11/20/19 |
Petrofac Ltd. |
W&W Energy Services |
$22 |
To purchase Odessa, TX-based W&W, which provides production and infrastructure services to Permian Basin oil producers; includes earn-out payments over the three-year period. |
E&P |
11/26/19 |
Ecopetrol SA |
Chevron Corp. |
N/A |
To buy Chevron’s participation in two gas production fields in the Caribbean. |
E&P |
11/27/19 |
HighPeak Energy Inc.; Pure Acquisition Corp. |
Grenadier Energy Partners LLC; EnCap Investment LP; Kayne Anderson Capital Advisors LP |
N/A |
To acquire The Woodlands, TX-based Grenadier Energy through a business combination to form a pure-play Permian E&P with a 73,000 net acre position in the northern Midland Basin. (Expected to close 1Q 2020) |
Mid |
12/5/19 |
Energy Transfer LP |
SemGroup Corp. |
$5,100 |
Acquired Tulsa, OK-based SemGroup in a cash and stock deal including the assumption of $5 B of debt; SemGroup’s key areas of operation include western Canada, the Midcontinent and the Gulf Coast. (Completed; PSA announced September 2019) |
E&P |
12/6/19 |
Revolution Resources LLC; Mountain Capital Partners LP |
Jones Energy Inc. |
$201.5 |
To acquire Austin, TX-based Jones Energy, which has assets in the Anadarko Basin in OK and TX. (Expected to close 1Q 2020) |
Mid |
12/9/19 |
Alerian |
S-Network Global Indexes Inc. |
N/A |
To acquire New York-based leader publisher and developer of over 300 proprietary and custom indexes to enhance Alerian’s global indexing, analytics and data capabilities. (Expected to close January 2020) |
E&P |
12/9/19 |
Laredo Petroleum Inc. |
Undisclosed |
$65 |
Bought 4,475 contiguous net acres (80% HBP) in Glasscock County, TX, in the Permian Basin with current net production of 1,400 boe/d (55% oil) and about 45 total gross (35 net) locations across the Lower Spraberry, Upper Wolfcamp and Middle Wolfcamp formations. |
Mid |
12/10/19 |
Basalt Infrastructure Partners LLC |
Third Coast Midstream LLC |
N/A |
Acquired Third Coast Midstream’s natural gas transmission business includes seven regulated natural gas lateral pipelines across LA, AL, MS, TN and AR. (Completed; PSA announced October 2019) |
E&P |
12/10/19 |
DowDuPont Inc. |
Devon Energy Corp. |
$100 |
Forming drilling JV spanning 133 undrilled locations in the liquids-rich portion of Devon’s Stack position in central Oklahoma; includes half of Devon’s WI in the locations in exchange for a drilling carry over the next four years. |
Mid |
12/10/19 |
Gravity Oilfield Services Inc.; Clearlake Capital Group LP |
On Point Oilfield Holdings LLC |
N/A |
Purchased Austin, TX-based On Point, creating the largest commercial produced water disposal company by injection volumes in the Midland Basin. |
Mid |
12/10/19 |
Ironwood Midstream Energy Partners LLC; EnCap Flatrock Midstream LLC |
Twin Eagle Resource Management LLC |
N/A |
Purchased Twin Eagle’s Gardendale and Asherton gathering systems, spanning Dimmit and La Salle counties, TX, within the Eagle Ford Shale. (Completed; PSA announced November 2019) |
E&P |
12/10/19 |
Talos Energy Inc. |
Castex Energy LLC; ILX Holdings LLC; Venari Resources LLC |
$640 |
To acquire a broad portfolio of US GoM producing assets, exploration prospects and acreage including over 40 identified exploration prospects located on a total acreage footprint of roughly 700,000 gross acres; 3Q 2019 production was bout 19,000 boe/d (65% oil and over 70% liquids). (Agreement with Venari closed; remainder expected to close 1Q 2019) |
E&P |
12/10/19 |
Vår Energi AS; Eni SpA; HitecVision AS |
Exxon Mobil Corp. |
$4,500 |
Bought Exxon Mobil's Norway upstream operations comprised of nonoperated assets in more than 20 producing fields with a combined production of about 150,000 boe/d in 2019. (Completed; PSA announced September 2019) |
Source: HartEnergy.com |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
Recommended Reading
Gunvor Group Inks Purchase Agreement with Texas LNG Brownsville
2024-03-19 - The agreement with Texas LNG Brownsville calls for a 20-year free on-board sale and purchase agreement of 0.5 million tonnes per annum of LNG for a Gunvor Group subsidiary.
US Expected to Supply 30% of LNG Demand by 2030
2024-02-23 - Shell expects the U.S. to meet around 30% of total global LNG demand by 2030, although reliance on four key basins could create midstream constraints, the energy giant revealed in its “Shell LNG Outlook 2024.”
Venture Global, Grain LNG Ink Deal to Provide LNG to UK
2024-02-05 - Under the agreement, Venture Global will have the ability to access 3 million tonnes per annum of LNG storage and regasification capacity at the Isle of Grain LNG terminal.
Asia Spot LNG at 3-month Peak on Steady Demand, Supply Disruption
2024-04-12 - Heating demand in Europe and production disruption at the Freeport LNG terminal in the U.S. pushed up prices, said Samuel Good, head of LNG pricing at commodity pricing agency Argus.
CERAWeek: JERA CEO Touts Importance of US LNG Supply
2024-03-22 - JERA Co. Global CEO Yukio Kani said during CERAWeek by S&P Global that it was important to have a portfolio of diversified LNG supply sources, especially from the U.S.