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Here’s a snapshot of energy deals from the past week including a $3.8 billion JV between Williams and Canada Pension Plan in the Marcellus/Utica and a Delaware Basin bolt-on by Contango Oil & Gas.
A&D DEAL SHEET
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Sector |
Date Announced |
Buyer |
Seller |
Value (US$MM) |
Comments |
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) MORE |
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. MORE |
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. MORE |
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. MORE |
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. MORE |
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. MORE |
Mid |
3/18/19 |
ArcLight Energy Partners LLC; ArcLight Energy Partners V LP |
American Midstream Partners LP |
N/A |
To purchase, for cash, in a merger transaction, all outstanding common units of Houston-based AMID not already held by affiliates of ArcLight for $5.25 per unit. (Expected to close 2Q 2019) MORE |
Mid |
3/18/19 |
Canada 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; includes CCPIB purchase of a 35% ownership stake in the combined Ohio Valley Midstream and Utica East Midstream systems. (Expected to close 2Q or 3Q 2019) MORE |
E&P |
3/18/19 |
Contango Oil & Gas Co. |
Undisclosed |
N/A |
Purchased an additional 4,200 gross (1,700 net) operated acres and 4,000 gross (200 net) nonoperated acres in Pecos County, TX, adjacent to its current Southern Delaware Basin position in the Permian. MORE |
Mid |
3/18/19 |
The Williams Cos. Inc. |
Momentum Midstream LLC |
740 |
Bought Momentum's 38% stake in the Utica East Ohio Midstream system and assumed operatorship. MORE |
S&S |
3/18/19 |
Undisclosed |
Precision Drilling Corp. |
N/A |
Acquired the Calgary, Alberta-based company's water treatment business branded Terra Water Systems for an undisclosed cash consideration. MORE |
S&S |
3/19/19 |
4Subsea |
Astori AS |
N/A |
Bought Astori, a Norwegian provider of subsea control systems for well intervention operations. MORE |
S&S |
3/19/19 |
Quorum Software |
Coastal Flow Measurement Inc.; Flow-Cal Inc. |
N/A |
Acquired Houston-based Coastal Flow Measurement and its a family of energy measurement services and software companies including Flow-Cal. (Completed; PSA announced Feb. 26) MORE |
Source: Hart Energy |
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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