(Source: Hart Energy/Shutterstock.com)
A&D DEAL SHEET
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|
Sector |
Date Announced |
Buyer |
Seller |
Value (US$MM) |
Comments |
|
Mid |
5/28/19 |
Alberta Investment Management Corp. (AIMCo) |
TC Energy Corp. |
CAD1,150 |
To buy an 85% interest in the Northern Courier Pipeline, which is a 56-mile pipeline system transports bitumen and diluent in Alberta. (Expected to close 3Q 2019) |
|
Mid |
5/28/19 |
Delek Logistics Partners LP; Delek US Holdings Inc. |
Plains All American LP |
128 |
Formed a JV to support the expansion of the Red River pipeline system from Cushing, OK, and the Permian Basin to US Gulf Coast markets; includes purchase of a 33% minority ownership interest. |
|
Mid |
5/29/19 |
Altus Midstream Co. |
Apache Corp. |
161 |
Purchased a 26.7% equity interest as part of an option tied to its formation in the Permian Highway Pipeline, which will transport natural gas from the Delaware Basin to Texas Gulf Coast markets. |
|
E&P |
5/29/19 |
Canadian Natural Resources Ltd. |
Devon Energy Corp. |
CAD3,800 |
To purchase Devon’s Canadian asset portfolio consisting of heavy oil assets principally located in Alberta and the Athabasca oil sands with net production averaging 113,000 boe in 1Q 2019. (Expected to close 2Q 2019) |
|
S&S |
5/29/19 |
Smith-Cooper International Inc.; Tailwind Capital Group LLC |
Anvil International LLC |
N/A |
Acquired Anvil in a merger forming a pipe, valves and fittings distribution company majority owned by Tailwind Capital. (Completed; PSA announced April 2019) |
|
S&S |
5/30/19 |
Helix Energy Solutions Group Inc. |
Subsea Technologies Group Ltd. |
N/A |
Acquired majority stake in STL, an Aberdeen-based subsea engineering company that specializes in the design and manufacture of subsea pressure control equipment, including well intervention, well control and subsea control systems. |
|
E&P |
5/30/19 |
Ithaca Energy Ltd.; Delek Group Ltd. |
Chevron Corp.; Chevron North Sea Ltd. |
2,000 |
To purchase the Chevron North Sea subsidiary and its assets, which includes interests in 11 producing fields offshore the UK; net production averaged 43,000 bbl/d of liquids and 133 MMcf/d of gas in 2018. (Expected to close 3Q 2019) |
|
S&S |
5/31/19 |
Frontier Tubular Solutions LLC; SCF Partners |
Permian Enterprises |
N/A |
Acquired the Odessa, TX-based tubular goods service provider serving the Permian Basin. |
|
E&P |
5/31/19 |
Undisclosed |
Marathon Oil Corp. |
N/A |
Bought Marathon's remaining 15% participating interest in Kurdistan in the nonop Atrush block; production during 1Q 2019 averaged 2,400 boe/d net (100% oil). (Completed; PSA entered 2Q 2018) |
|
Mid |
6/1/19 |
Total SA |
Toshiba Corp. |
15 |
To buy Toshiba's US LNG business including Freeport LNG train 3 agreements that add 2.2 mtpa of LNG plus an $800 MM cash payment. (Expected to close by year-end 2019) |
|
E&P |
6/3/19 |
Dragon Oil Plc; Emirates National Oil Co. (ENOC) |
BP Plc |
N/A |
To purchase producing and exploration concessions in Egypt, including BP's interest in the Gulf of Suez Petroleum Co. (Expected to close 2H 2019) |
|
E&P |
6/3/19 |
Murphy Oil Corp. |
LLOG Exploration Co. LLC |
1,625 |
Acquired deepwater US GoM assets comprising 26 GoM blocks in the Mississippi Canyon and Green Canyon areas with 38,000 boe/d of current net production; includes up to $250 MM of contingency payments. (Completed; PSA announced April 2019) |
|
E&P |
6/4/19 |
Undisclosed |
Abraxas Petroleum Corp. |
15.5 |
Purchased certain nonoperated properties located in the Williston Basin in ND; represents roughly 5% of Abraxas' current Bakken daily production of 7,000 boe/d. (Completed; PSA announced May 6) |
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Source: Hart Energy |
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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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