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A&D DEAL SHEET
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Sector |
Date |
Buyer |
Seller |
Value |
Comments |
E&P |
6/29/19 |
Oil Search Ltd. |
Armstrong Oil & Gas Inc.; GMT Exploration Co. LLC |
450 |
To buy the companies remaining interest in the Pikka Unit and Horseshoe Block plus other AK North Slope exploration leases as an option to a previous transaction. (Expected to close August) |
E&P |
6/29/19 |
Oil Search Ltd. |
Respsol SA |
N/A |
To exchange certain AK North Slope assets in the Pikka Unit and the Horseshoe Block plus E of the Horseshoe area within the Nanushuk trend; includes $64.3 MM payment to Oil Search. |
S&S |
7/1/19 |
First Reserve Corp. |
The Weir Group Plc |
N/A |
Purchased Weir Flow Control, a designer, manufacturer and aftermarket services provider of engineered valves and pumps used in energy and broader industrial applications; includes rebranding to Trillium Flow Technologies. (Completed; PSA announced February 2019) |
Mid |
7/1/19 |
Hartree Bulk Storage LLC; Oaktree Capital Management LP |
Martin Midstream Partners LP |
215 |
Bought Gulf Coast natural gas storage assets with 50 billion cubic feet of working capacity in N LA and MS. (Completed; PSA announced June 10) |
E&P |
7/1/19 |
RockRose Energy Plc |
Marathon Oil Corp. |
350 |
Bought Marathon Oil's UK businesses; includes interests in UK North Sea fields. (Completed; PSA announced February 2019) |
S&S |
7/2/19 |
Expro Group |
Quality Intervention AS |
N/A |
Bought 100% of the equity of Norwegian technology company Quality Intervention (QI); portfolio includes coiled tubing, annular integrity and in-situ wellhead remediation tooling products. |
Mid |
7/2/19 |
NGL Energy Partners LP |
Mesquite Services LLC |
890 |
Acquired the Northern Delaware Basin-focused produced water disposal company through a combination of Permian assets in Eddy and Lea counties, NM, and Loving County, TX. (Completed; PSA announced May 2019) |
E&P |
7/2/19 |
Northern Oil and Gas Inc. |
Flywheel Energy LLC; Kayne Anderson Capital Advisors LP |
310.4 |
Bought Williston Basin properties consisting of nonop interest in 86.9 net producing wells expected to produce 6,600 boe/d during 2H 2019; includes roughly 18,000 net acres (100% HBP). (Completed; PSA announced April 2019) |
Mid |
7/2/19 |
Trimac Transportation |
Gibson Energy Inc. |
CAD100 |
Bought Gibson's Canadian Truck Transportation businesses; includes field office and shop facilities in Edmonton, Alberta. (Completed; PSA announced April 2019) |
Mid |
7/2/19 |
UGI Energy Services LLC; UGI Corp. |
TC Energy Corp. |
1,275 |
To purchase 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. (Expected to close 3Q 2019) |
E&P |
7/4/19 |
Energean Oil & Gas Plc |
Edison SpA |
850 |
To purchase the oil and gas division of Italian energy company Edison; includes producing assets in Egypt, Italy, Algeria, the UK North Sea and Croatia, development assets in Egypt, Italy and Norway. (Expected to close 4Q 2019) |
Renew |
7/5/19 |
Lightsource BP; BP Plc |
Enerlife Energias Renováveis |
N/A |
Purchased 1.9 GWs of greenfield solar projects in Brazil from independent renewables developer Enerlife. |
E&P |
7/7/19 |
Equinor ASA |
Lundin Petroleum AB |
910 |
To buy an additional 2.6% direct ownership share in the Johan Sverdrup oil field, located in the North Sea offshore Norway, in exchange for the divestment of a 16% shareholding in Lundin. (Expected to close 4Q 2019) |
S&S |
7/8/19 |
Acteon Group Ltd. |
Proserv Group Inc. |
N/A |
To purchase Proserv's field technology services business unit with bases in Norway, Singapore, Aberdeen and in the USA in Houma, LA; includes 177 employees. (Expected to close July) |
S&S |
7/8/19 |
Emerson Electric Co. |
Zedi Inc. |
N/A |
Purchased Zedi’s software and automation businesses based in Calgary, Alberta, with about 155 employees in North America. |
S&S |
7/8/19 |
Mustang Extreme Environmental Services; Blue Wolf Capital Partners LLC |
Aria Rose Oilfield Solutions |
N/A |
Bought the Midland, TX-based provider of water treatment services including in situ and “on-the-fly” water treatment services for in-ground and above-ground water storage and treatment facilities. |
E&P |
7/8/19 |
Undisclosed |
Encana Corp. |
165 |
To buy Arkoma Basin assets covering 140,000 net acres of leasehold in OK and 77 MMcfe/d (98% natgas) of current production. (Expected to close 3Q 2019) |
E&P |
7/10/19 |
Petrogas NEO UK Ltd.; Petrogas E&P LLC; HitecVision AS |
Total SA |
635 |
To purchase several UK North Sea assets; includes operated fields and minority stakes in CNOOC-operated fields. (Expected to close December) |
E&P |
7/10/19 |
PTT Exploration and Production Public Co. Ltd. (PTTEP) |
Murphy Oil Corp. |
2,227 |
Bought Murphy’s Malaysian subsidiaries in an all-cash transaction that includes a bonus payment for up to $100 MM contingent on future exploratory drilling results marking a country exit for Murphy. (Completed; PSA announced March 2019) |
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.
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