(Source: Hart Energy/Shutterstock.com)
A&D DEAL SHEET
|
|||||
|
Sector |
Date |
Buyer |
Seller |
Value |
Comments |
|
E&P |
7/19/19 |
Franco-Nevada Inc. |
Range Resources Corp. |
$300 |
To buy a 2% proportionately reduced ORRI in 350,000 net surface acres in SW Appalachia and applies to existing for future Marcellus, Utica and Upper Devonian development; Franco-Nevada is one of two buyers. (Expected to close July) |
|
E&P |
7/19/19 |
Undisclosed |
Range Resources Corp. |
$300 |
To buy a 2% proportionately reduced ORRI in 350,000 net surface acres in SW Appalachia and applies to existing for future Marcellus, Utica and Upper Devonian development; Franco-Nevada is one of two buyers. (Expected to close July) |
|
E&P |
7/19/19 |
Undisclosed |
Range Resources Corp. |
$34 |
Purchased certain non-producing acreage in NW Armstrong County, PA, within the Appalachian Basin that included about 20,000 acres. (Closed June) |
|
E&P |
7/23/19 |
Colony HB2 Energy; Colony Capital Inc. |
California Resources Corp. |
$500 |
Formed JV to develop Elk Hills Field located within the San Joaquin Basin in Kern County, CA; initially commitment of $320 MM could be increased to $500 MM, subject to mutual agreement. |
|
E&P |
7/23/19 |
Presidio Petroleum LLC; Morgan Stanley Energy Partners |
Apache Corp. |
$367 |
Purchased western Anadarko Basin assets in KS, OK and TX representing a basin-exit for Apache. (Editor's note: Value derived from estimates made by BMO Capital Markets) |
|
Mid |
7/23/19 |
Tidewater Midstream and Infrastructure Ltd. |
Pipestone Energy Corp. |
C$30 |
To purchase 100% WI in Pipestone East Batter, a strategic 30 MMcf/d raw gas compression, 5,400 bbl/d condensate handling and associated water disposal battery within the Montney in Alberta, Canada. |
|
S&S |
7/23/19 |
Undisclosed |
Superior Energy Services Inc. |
$74 |
Bought Superior's drilling rigs services line comprised of 12 active US land-based drilling rigs and associated equipment. (Closed during 2Q 2019) |
|
E&P |
7/24/19 |
Undisclosed |
Cuda Oil and Gas Inc. |
C$10.6 |
To purchase all of Cuda's oil and gas assets and related liabilities located in Quebec. (Expected to close Aug. 15)To purchase all of Cuda's oil and gas assets and related liabilities located in Quebec; leaves Cuda with remaining assets in WY Powder River Basin. (Expected to close Aug. 15) |
|
E&P |
7/25/19 |
ConocoPhillips Co. |
Wintershall Dea GmbH |
N/A |
To form JV in Argentina's Vaca Muerta Shale through the acquisition of nonoperated interest in the Aguada Federal and Bandurria Norte blocks. (Expected to close 2019) |
|
E&P |
7/25/19 |
Diversified Gas & Oil Plc |
EdgeMarc Energy Holdings LLC |
$50 |
To buy through a stalking-horse bid certain OH Utica assets. (Expected to close by Aug. 29) |
|
E&P |
7/26/19 |
Inpex Corp. |
Anadarko Petroleum Corp. |
N/A |
To buy a 40% participating interest in Keathley Canyon Blocks 921/965 and Walker Ridge Blocks 881/925 located in the US GoM over 200 miles off the LA coast. |
|
E&P |
7/29/19 |
Osaka Gas Co. Ltd. |
Sabine Oil & Gas Corp. |
$610 |
To acquire Houston-based Sabine, which has a 175,000-net acre position in the Haynesville and Cotton Vally shale plays across E TX; production is 210 MMcfe/d. |
|
Down |
7/30/19 |
Ontario Power Generation Inc. |
TC Energy Corp |
$2,870 |
To buy the 683-MW Halton Hills power plant, the 900-MW Napanee generating station that is nearing completion and TC Energy's 50% stake in the 550-MW Portlands Energy Centre, all located in Ontario, Canada. (Expected to close late 2019) |
|
Mid |
7/30/19 |
Prostar Capital |
NuStar Energy LP |
$250 |
Bought the storage terminal facility in St. Eustatius located in the Caribbean consisting of 60 commercial tanks and associated deepwater jetties and pipelines, with a total storage capacity of 2.3 million cubic meters. |
|
E&P |
7/30/19 |
Undisclosed |
Harvest Oil & Gas Corp. |
$72 |
To buy substantially all of Harvest's interests in the Barnett Shale, which comprise a roughly 28% WI in 164,276 gross (40,658 net) acres across N TX, over 90% of which is nonoperated; production in 1Q 2019 averaged 55.6 MMcfe/d. (Expected to close 3Q 2019) |
|
E&P |
7/30/19 |
Viper Energy Partners LP |
Diamondback Energy Inc. |
$700 |
To acquire through a dropdown 5,090 net royalty acres across the Permian's Midland and Delaware basins, over 95% of which is Diamondback-operated. (Expected to close 4Q 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.
Recommended Reading
US Leads Global Oil Production for Sixth Straight Year-EIA
2024-03-11 - The Energy Information Administration says it is unlikely that the record will be broken by another country in the near term.
Oil Dips as Demand Outlook Remains Uncertain
2024-02-20 - Oil prices fell on Feb. 20 with an uncertain outlook for global demand knocking value off crude futures contracts.
What's Affecting Oil Prices This Week? (March 25, 2024)
2024-03-25 - On average, Stratas Advisors are forecasting that oil supply will be at a deficit of 840,000 bbl/d in 2024.
What's Affecting Oil Prices This Week? (March 11, 2024)
2024-03-11 - Stratas Advisors expects oil prices to move higher in the middle of the year, but for the upcoming week, there is no impetus for prices to raise.
Oil Rises After OPEC+ Extends Output Cuts
2024-03-04 - Rising geopolitical tensions due to the Israel-Hamas conflict and Houthi attacks on Red Sea shipping have supported oil prices in 2024, although concern about economic growth has weighed.