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A&D DEAL SHEET
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Sector |
Date |
Buyer |
Seller |
Value |
Comments |
E&P |
11/11/19 |
Ithaca Energy Ltd.; Delek Group Ltd. |
Chevron Corp. |
$2,000 |
Purchased 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. (Completed; PSA announced May 2019) |
Mid |
11/12/19 |
Ironwood Midstream Energy Partners LLC; EnCap Flatrock Midstream LLC |
Twin Eagle Resource Management LLC |
N/A |
To purchase Twin Eagle’s Gardendale and Asherton gathering systems, spanning Dimmit and La Salle counties, TX, within the Eagle Ford Shale. (Expected to close December) |
E&P |
11/12/19 |
Kimbell Royalty Partners LP |
Buckhorn Resources LLC |
$31.8 |
To acquire 86,000 gross (400 net) royalty acres, 90% of which is located in the Eagle Ford Shale in La Salle and McMullen counties, TX, with current production about 270 boe/d (83% oil, 11% natural gas and 6% NGL). (Expected to close December) |
Mid |
11/12/19 |
Rattler Midstream LP; Oryx Midstream Services LLC; Stonepeak Infrastructure Partners Co. |
Reliance Gathering LLC |
$355 |
Acquired through a newly-formed JV to acquire Reliance Gathering; includes gathering system in the Permian's Northern Midland Basin. (Completed; PSA announced October 2019) |
E&P |
11/13/19 |
Ecopetrol SA |
Occidental Petroleum Corp. |
$1,500 |
Formed JV to develop 97,000 net acres within the Permian's Midland Basin in W TX; Ecopetrol purchased a 49% stake for $750 MM cash plus $750 MM of carried capital. (Completed; PSA announced July 2019) |
E&P |
11/13/19 |
Undisclosed |
Occidental Petroleum Corp. |
$200 |
Purchased select noncore Occidental assets; further detail undisclosed. |
E&P |
11/14/19 |
Callon Petroleum Co. |
Carrizo Oil & Gas Inc. |
$2,700 |
Amended terms of its agreement to acquire Houston-based Carrizo, which has Permian Basin and Eagle Ford oil-weighted positions, in an all-stock transaction with assumption of $1.96 B net debt and preferred stock. (Expected to close 4Q 2019) |
Mid |
11/14/19 |
Steel Reef Infrastructure Corp. |
Crescent Point Energy Corp. |
C$500 |
To buy certain associated gas infrastructure assets in Saskatchewan within the Western Canadian Sedimentary Basin; includes nine natural gas gathering and processing facilities and two gas sales pipelines. (Expected to close 1Q 2020) |
Mid |
11/15/19 |
Noble Midstream Partners LP |
Noble Energy Inc. |
$1,600 |
To acquire in a dropdown essentially all of Noble’s remaining US onshore midstream interests and assets located in the D-J and Permian basins. |
Mid |
11/18/19 |
NextEra Energy Partners LP |
Cabot Oil & Gas Corp.; Ares Management Corp.; WGL Holdings Inc. |
$1,370 |
Purchased Meade Pipeline, which owns a 39.2% stake in the Central Penn intrastate natgas pipeline that serving the Marcellus region. (Completed; PSA announced September 2019) |
S&S |
11/19/19 |
WolfePak Software; Charlesbank Capital Partners LLC |
DocVue |
N/A |
Purchased Morrison, CO-based DocVue, a provider of imaging, document management and workflow software for the oil and gas industry. |
S&S |
11/20/19 |
Petrofac Ltd. |
W&W Energy Services |
$22 |
To purchase Odessa, TX-based W&W, which provides production and infrastructure services to Permian Basin oil producers; includes earn-out payments over the three-year period. |
Source: HartEnergy.com |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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