A&D DEAL SHEET
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Sector |
Date Announced |
Buyer |
Seller |
Value (US$MM) |
Comments |
|
S&S |
6/17/19 |
C&J Energy Services Inc. |
Kean Group Inc. |
745.7 |
To acquire Keane through a merger of the Houston-based pressure pumpers; C&J and Keane shareholders to own roughly 50% of the combined company. (Expected to close 4Q 2019) |
|
Mid |
6/17/19 |
Canadian Pension Plan Investment Board (CPPIB) |
The Williams Cos. Inc. |
1,340 |
Formed JV to consolidate Williams midstream operations in the western Marcellus and Utica basins of OH; includes CCPIB purchase of a 35% ownership stake in the combined Ohio Valley Midstream and Utica East Midstream systems. (Completed; agreement announced March 2019) |
|
E&P |
6/17/19 |
ConocoPhillips Co.; ConocoPhillips Alaska |
Caelus Energy LLC; Caelus Natural Resources Alaska LLC |
N/A |
To acquire 100% of the Nuna discovery comprised of 11 tracts covering 21,000 acres within the AK North Slope region. |
|
E&P |
6/18/19 |
Lime Rock Resources |
BP Plc; BP America Production Co. |
N/A |
To buy properties in the SWOOP area of Cleveland and McClain counties, OK. (Expected to close 3Q 2019) |
|
S&S |
6/18/19 |
Profire Energy Inc. |
Millstream Energy Products Ltd. |
2.5 |
Bought privately-held Canadian company Millstream that develops a line of high-performance burners, economy burners, flame arrestor housings, secondary air control plates, and other related combustion components. |
|
E&P |
6/19/19 |
Chisholm Oil and Gas LLC; Apollo Global Management LLC |
Gastar Exploration LLC; Ares Management Corp. |
N/A |
To acquire Houston-based Gastar through a merger agreement; combined company to hold roughly 165,000 net acres in the OK Stack Play, primarily in Kinfisher County, with net production of about 20,000 boe/d. (Expected to close 3Q 2019) |
|
Mid |
6/19/19 |
Converge Midstream LLC; Riverstone Holdings LLC |
Fairway Energy Partners LLC |
N/A |
Purchased the assets of Fairway through a bankruptcy auction; includes crude oil storage and pipelines in the Houston Ship Channel. |
|
E&P |
6/19/19 |
Development Capital Management LLC; Ares Management Corp. |
Undisclosed |
165 |
Formed JV as a working interest owner to fund up to $165 MM worth of drilling and development in the Permian's Wolfcamp Shale. |
|
S&S |
6/19/19 |
Quorum Software; Thoma Bravo LLC |
Archeio Technologies |
N/A |
Purchased Irving, TX-based Archeio Technologies, a software provider of oil and gas document classification and smart search technology. |
|
E&P |
6/24/19 |
Alliance Resource Partners LP |
Wing Resources LLC; Natural Gas Partners LP |
145 |
To buy oil and gas mineral interests in the Permian Basin from Dallas-based Wing, which holds more than 200,000 gross acres with interest in over 4,000 wells throughout the Midland and Delaware basins. (Expected to close early August) |
|
Mid |
6/24/19 |
Archrock Inc. |
Elite Compression Services LLC; JDH Capital Co. |
410 |
To acquire substantially all of Victoria, TX-based Elite Compression Services asset; includes about 430,000 hp located primarily in the Eagle Ford Shale and S TX region as well as in the Permian Basin, Scoop/Stack and Marcellus/Utica. (Expected to close 3Q 2019) |
|
Mid |
6/24/19 |
Harvest Midstream Co. |
Archrock Inc. |
30 |
To purchase about 80,000 active and idle compression hp. (Expected to close 3Q 2019) |
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Source: HartEnergy.com |
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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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