A&D DEAL SHEET

Sector

Date
Announced

Buyer

Seller

Value
(US$MM)

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)

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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)

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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)

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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)

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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)

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E&P

11/13/19

Undisclosed

Occidental Petroleum Corp.

$200

Purchased select noncore Occidental assets; further detail undisclosed.

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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)

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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)

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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.

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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)

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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.

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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.

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Source: HartEnergy.com

For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.