A&D DEAL SHEET

Sector

Date
Announced

Buyer

Seller

Value
(US$MM)

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)

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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.

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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)

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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)

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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)

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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.

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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)

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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)

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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)

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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)

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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)

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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.

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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)

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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)

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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.

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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.

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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)

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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)

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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)

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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.