A&D DEAL SHEET

Sector

Date Announced

Buyer

Seller

Value (US$MM)

Location of Assets

Comments

Mid

2/4/19

First Infrastructure Capital Advisors LLC

WhiteWater Midstream LLC; Denham Capital Management LP; Ridgemont Equity Partners

N/A

TX

To acquire WhiteWater, including its 60% stake in Agua Blanca, a Delaware Basin intrastate natural gas pipeline system. (Expected to close 1Q 2019)

Mid

2/4/19

First Infrastructure Capital Advisors LLC

WPX Energy Inc.

N/A

TX

To acquire WPX’s 20% equity interest in WhiteWater Midstream’s Agua Blanca natural gas pipeline in the Delaware Basin. (Expected to close 1Q 2019)

E&P

2/4/19

Undisclosed

WPX Energy Inc.

N/A

TX

To purchase noncore Nine Mile Draw E&P assets in southern Reeves County, Texas, within the Delaware Basin of the Permian. (Expected to close 1Q 2019)

S&S

2/4/19

Upstream Energy

Ecolab Inc.

N/A

MN

To spin off its $2.4B oil-drilling chemicals business into a separate public company. (Expected to close mid-2020)

E&P

2/4/19

WPX Energy Inc.

Undisclosed

100

TX

To buy 14,000 surface acres in WPX’s core Stateline development area within the Delaware Basin.

E&P

2/519

Viper Energy Partners LP; Diamondback Energy Inc.

Undisclosed

104

TX

Acquired 933 net royalty acres in 23 acquisitions, increasing its mineral interests in the Midland Basin to a total of 14,841 net royalty acres, up 55% YOY. (Closed 4Q 2018)

E&P

2/7/19

Kimbell Royalty Partners LP

EnCap Investments LP; Phillips Energy Partners LLC

151.3

USA

To buy certain oil and gas royalty assets in an 100% equity transaction; includes 12,200 net royalty acres and 1,600 boe/d of production with more than half of production from the Eagle Ford Shale, Permian Basin, Haynesville Shale and Powder River Basin. (Expected to close March)

E&P

2/7/19

Stronghold Energy II Holdings LLC; Warburg Pincus LLC

Devon Energy Corp.

191

TX

Purchased Devon’s Central Basin Platform assets located in the Permian Basin, which had 4,000 boe/d (about 45% oil) of production in 3Q 2018). (Closed January)

Renew

2/8/19

Eversource Energy

Ørsted AS

225

USA

Formed 50-50 partnership agreement for offshore wind assets in the Northeast US; includes a 50% interest in Ørsted’s Revolution Wind and South Fork Wind Farm projects plus a tract off the coasts of MA and RI.

E&P

2/8/19

Royal Dutch Shell Plc

Cluff Natural Resources Plc

N/A

UK

Bought stakes and options in gas licenses in the southern UK North Sea estimated to contain a total of 190 million boe as part of a farm-out agreement.

Mid

2/8/19

Salt Creek Midstream LLC

Noble Midstream Partners LP

N/A

TX

Formed 50/50 JV partnership named Delaware Crossing LLC to develop a crude oil pipeline and gathering system in the Permian's Delaware Basin in W TX. (Closed; LOI signed October 2018)

E&P

2/11/19

Coro Energy Plc

West Natuna Exploration Ltd.

15.3

Indonesia

Bought a 15% interest in the Duyung Production Sharing Contract in the West Natuna Basin, offshore Indonesia, which contains the Mako gas field.

Source: Hart Energy