A&D DEAL SHEET
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Sector |
Date |
Buyer |
Seller |
Value |
Comments |
|
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 |
Hilcorp Energy Co. |
Doyon Ltd. |
N/A |
Formed AK JV for oil and gas exploration in a portion of the Yukon Flats covering 1/6 million acres of Doyon owned mineral rights. |
|
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) |
|
E&P |
12/12/19 |
Kimbell Royalty Partners LP |
Buckhorn Resources LLC |
$36.3 |
Acquired 86,000 gross (400 net) royalty acres, 90% of which is located in the Eagle Ford Shale in La Salle and McMullen counties, TX, with current production about 270 boe/d (83% oil, 11% natural gas and 6% NGL). (Completed; PSA announced November 2019) |
|
S&S |
12/12/19 |
Trelleborg AB |
TRITEC Performance Solutions |
N/A |
Bought the Fenton, MI-based producer of engineered polytetrafluoroethylene (PTFE) sealing solutions with additional manufacturing in Giddings, TX. |
|
E&P |
12/12/19 |
W&T Offshore Inc. |
ConocoPhillips Co. |
$20 |
Purchased 75% working interest in and operatorship of the Magnolia Field, located in the central region of the deepwater US GoM, offshore LA; includes 11,500 gross (8,600 net) acres and 2,300 boe/d (82% oil) net production. |
|
Mid |
12/16/19 |
Pembina Pipeline Corp. |
Kinder Morgan Inc. |
$1,540 |
Purchased ownership of the U.S. portion, extending from MI to ND, of the Cochin Pipeline, which is currently moving light condensate. (Completed; PSA announced August 2019) |
|
Mid |
12/16/19 |
Pembina Pipeline Corp. |
Kinder Morgan Inc.; Kinder Morgan Canada Ltd. |
$935 |
Acquired Kinder Morgan’s 70% interest in Kinder Morgan Canada Ltd., which will be swapped into roughly 25 MM Pembina shares worth about $935 MM in pre-tax proceeds. (Completed; PSA announced August 2019) |
|
E&P |
12/16/19 |
WPX Energy Inc. |
Felix Energy LLC; EnCap Investments LP |
$2,500 |
To acquire PE-backed Felix Energy II, which has a 58,500 net acre position in the Permian's Delaware Basin in W TX projected to be producing about 60,000 boe/d (70% oil) at time of closing. (Expected to close 2Q 2020) |
|
E&P |
12/17/19 |
Kalnin Ventures LLC |
Devon Energy Corp. |
$770 |
To acquire Devon’s Barnett position, which includes over 320,000 gross acres and 4,200 producing wells in N TX that average 597 MMcfe/d of net production in 3Q 2019; proved reserves at YE 2018 were about 4 Tcfe. (Expected to close 2Q 2020) |
|
Mid |
12/17/19 |
Tallgrass Energy LP |
The Blackstone Group LP |
N/A |
To acquire remaining shares in Tallgrass not already own for $22.45 in cash per share; group led by Blackstone includes Enagas SA, GIC Private Ltd., NPS and USS. (Expected to close 2Q 2020) |
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Source: HartEnergy.com |
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