Here’s a snapshot of energy deals from the past week including Noble Energy’s recent $132 million sale in the Permian Basin and Goodnight Midstream changing ownership in a $930 million transaction.
A&D DEAL SHEET
|
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|
Sector |
Date Announced |
Buyer |
Seller |
Value (US$MM) |
Comments |
|
E&P |
2/19/19 |
Undisclosed |
Noble Energy Inc. |
132 |
Acquired roughly 13,000 net acres in Reeves County, TX, within the Permian Basin. (Closed during 1Q 2019) |
|
E&P |
3/1/19 |
Cimarex Energy Co. |
Resolute Energy Corp. |
1,600 |
Acquired Denver-based Resolute which controls 21,100 net acres (89% HBP) within the Delaware Basin in Reeves County, TX, with an average 79% WI (97% operated) and average production of about 34,752 boe/d during 3Q 2018. (Completed; PSA announced November 2018) |
|
E&P |
3/1/19 |
Inpex Corp. |
GulfTex Energy LLC |
N/A |
To acquire multiple development and production assets in the Eagle Ford Shale in S TX marking Inpex's entry into US tight oil development; includes project covering 13,000 acres primarily located in Karnes County with net production of 7,600 boe/d. |
|
Mid |
3/1/19 |
NGL Energy Partners LP |
DCP Midstream LP |
N/A |
Purchased DCP's wholesale propane business, generally consisting of 7 NGL terminals in the eastern US; also includes an import/export terminal in Chesapeake, VA. (Completed; PSA announced Jan. 30) |
|
S&S |
3/1/19 |
Tally Energy Services |
Epic Lift Systems LLC; Intervale Capital |
N/A |
Purchased Fort Worth, TX-based provider of plunger lift, gas lift and complementary compression solutions across the US. |
|
E&P |
3/4/19 |
Pin Oak Energy Partners LLC |
Undisclosed |
N/A |
Bought certain producing Marcellus and conventional assets in Elk County, PA, within the Appalachian Basin; transaction includes 12-mile midstream gathering system and agreement to develop over 20,000 net acres, also in Elk County, prospective for both the Marcellus and Utica. |
|
Mid |
3/4/19 |
Pin Oak Energy Partners LLC |
Appalachian Midstream Partners LLC |
N/A |
Purchased Somerset Gas Gathering of Pennsylvania LLC (SGG), which owns and operates a 72-mile midstream pipeline in the Appalachian Basin that extends from the Lewis Run delivery point in McKean County, PA, to the TransCo Leidy Hub interconnect in Clinton County, PA. |
|
Mid |
3/7/19 |
Hess Infrastructure Partners LP |
Hess Corp. |
225 |
Acquired Hess’ existing Bakken water services business consisting of over 150 miles of existing water gathering pipelines capturing about 24,000 bbl/d of produced water in ND. (Completed; MOU entered December 2018) |
|
E&P |
3/7/19 |
Undisclosed |
Lonestar Resources US Inc. |
12.3 |
To buy Lonestar's Pirate assets comprised of 3,400 net undeveloped acres in Wilson County, TX, with 7 proved undeveloped locations; average daily sales volumes were 219 boe/d in February. (Expected to close March) |
|
Mid |
3/8/19 |
Noble Midstream Partners LP |
EPIC Midstream Holdings LP |
N/A |
Bought a 30% equity interest in the EPIC Crude Pipeline, which will transport crude in the Permian Basin and Eagle Ford Shale into the Corpus Christi, TX, market. |
|
Mid |
3/11/19 |
The Blackstone Group LP; Blackstone Infrastructure Partners |
Tallgrass Energy LP; Kelso & Co.; The Energy & Minerals Group; Tallgrass KC LLC |
3,200 |
Purchased controlling interest in the Leawood, KS-based midstream energy infrastructure company operating across 11 states. (Completed; PSA announced Jan. 31) |
|
Mid |
3/11/19 |
TPG Capital LLC |
Goodnight Midstream LLC; Tailwater Capital LLC |
930 |
To purchase a majority stake in Dallas-based produced water infrastructure company operating in major US shale plays including the Permian Basin, Eagle Ford and Bakken. |
|
S&S |
3/11/19 |
Waste Management Inc.; WM Energy Services Holdings LLC |
Petro Waste Environmental LP; Tailwater Capital |
N/A |
Bought the San Antonio-based provider of comprehensive oilfield environmental services and solid waste disposal company serving the Permian Basin and Eagle Ford Shale. |
|
S&S |
3/12/19 |
Emerson Electric Co. |
Repsol SA |
N/A |
Formed JV to work collaboratively for development of advanced subsurface geophysical technologies to significantly reduce the time to prospect and produce first oil. |
|
Mid |
3/12/19 |
Enagás SA |
Tallgrass Energy LP; The Blackstone Group LP; Blackstone Infrastructure Partners |
590 |
To purchase a 10.93% indirect ownership interest in Leawood, KS-based Tallgrass Energy. |
|
S&S |
3/13/19 |
BP Plc |
Environmental Defense Fund |
N/A |
Formed JV aimed at developing further technologies to detect and prevent methane leaks from its oil and gas operations. |
|
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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