A&D DEAL SHEET |
|||||
| Sector | Date Announced | Buyer | Seller | Value (US$MM) | Comments |
| E&P | 4/5/2023 | Riley Exploration Permian Inc. | Pecos Oil & Gas LLC; Cibolo Energy Partners LLC | $330 |
Acquired 11,700 contiguous net acres in Eddy County, New Mexico, and production of 4,200 bbl/d (7,200 boe/d). |
| E&P | 4/3/2023 | Ovintiv Inc. | Black Swan Oil & Gas; PetroLegacy Energy; Piedra Resources; EnCap Investments LP | $4,275 |
To acquire 65,000 net acres in the core of the Midland Basin; 1,060 net locations; and 60,000 bbl/d of oil and condensate. |
| E&P | 4/3/2023 | Grayson Mill Bakken LLC; EnCap Investments LP | Ovintiv Inc. | $825 |
To sell Ovintiv's Bakken position, including 46,000 net acres and average production of 37,000 boe/d |
| E&P | 4/3/2023 | Ovintiv Inc. | To acquire various bolt-on acquisitions. | $200 |
Acquired acreage in various bolt-on acquisitions. |
| Renew | 3/31/2023 | Shell USA Inc. | Volta Inc. | $169 |
Acquired network of more than 3,000 charging locations in 31 U.S. states and territories. |
| E&P | 3/30/2023 | IOG Resources II | N/A | N/A |
Acquired Appalachia assets, including 66 producing wellbores on 7,000 net acres with production of 24 MMcfe/d. |
| Renew | 3/28/2023 | Brookfield Renewable Partners; GIC; Temasek; EIG; MidOcean Energy | MidOcean Energy | $10,300 |
To acquire Origin Energy, Australia’s largest integrated power generator. |
| E&P | 3/28/2023 | Crescent Point Energy Corp. | Spartan Delta Corp. | $1,280 |
To acquire Montney oil and liquids assets with average production of 38,000 barrels of oil equivalent per day (boe/d), 55% liquids, and drilling inventory of 600 net locations. |
| MID | 3/27/2023 | Energy Transfer LP | Lotus Midstream LLC; EnCap Flatrock Midstream | $1,450 |
To acquire Lotus' system consisting of approximately 3,000 active miles of pipeline that serves major production areas of the Permian with nearly 1.5 MMbbl/d of capacity. |
| S&S | 3/24/2023 | Dawson Geophysical Co. | Breckenridge Geophysical LLC; Wilks Brothers LLC | $9.8 |
To purchase the Breckenridge, a seismic data acquisition company. |
| E&P | 3/24/2023 | Energy Partners; Vitol | Delaware Basin Resources LLC; Stellus Capital Management | $1,500 - $2,000 |
Acquired 46,000 surface acres in Reeves and Pecos counties, Texas, and currently averages production of approximately 40,000 boe/d. |
| Renew | 3/17/2023 | ACEN; UPC Power Solutions LLC | GlidePath Power Solutions LLC |
To acquire eight operating wind projects in Texas with 136 megawatts of power generation. |
|
| MID | 3/16/2023 | Golar LNG Ltd. | New Fortress Energy Inc. | $423 |
To close the acquisition of New Fortress Energy Inc.’s interest in a floating LNG facility in Hilli, offshore Kribi, Cameroon. |
| Renew | 3/16/2023 | Equinor ASA | Scatec Innovation AS | $28 |
Acquired 5 million shares in renewable energy firm Scatec ASA from Scatec Innovation AS, a stake of about 3.1% of the company’s shares and votes. |
| MID | 3/15/2023 | Canadian Pacific Railway | Kansas City Southern | $27,000 |
To create the Candian Pacific Kansas City railroad, the only single-line railway connecting North America from Canada through Mexico. |
| E&P | 3/15/2023 | Principal Solar Inc. | Winchester Oil & Gas LLC | N/A |
Executed a letter of intent to acquire controlling working interest in oil and gas leases, wells in the Minerva-Rockdale oil field in Milam County, Texas. |
| Renew | 3/8/2023 | Wien Energie; OMV | N/A | N/A |
Announced a joint venture to explore geotheraml opportunities in the greater Vienna region of Europe. |
| E&P | 3/7/2023 | N/A | Carrier Energy Partners II LLC | $145 |
Sold its non-operated working interests in Karnes County, Texas, to an undisclosed buyer in two transactions. |
| Renew | 3/6/2023 | Bayou Bend CCS LLC; Chevron U.S.A. Inc.; Talos Energy Inc.; Carbonvert Inc. | N/A | N/A |
Purchased more than 100,000 acres onshore in Chambers and Jefferson counties, Texas, for carbon capture and storage. |
| MID | 3/6/2023 | N/A | NGL Energy Partners LP | $111.65 |
Sold marine fleet, consisting of 13 towboats and 25 tank barges. |
Recommended Reading
EY: E&Ps Remain Disciplined as Shareholder Returns Outpace Development Spending
2023-08-24 - E&Ps have been expanding capital budgets, producing more ESG reporting and returning capital to shareholders and companies appear poised to return to M&A, a report by EY found.
Full Throttle: Chevron Hits Record Permian Production in 2Q
2023-07-25 - Chevron’s oil and gas output from the Permian Basin reached record levels in the second quarter, surpassing analysts’ production and earnings estimates.
Haynesville DUC Count Questioned as US Gas Production Forecast to Slip
2023-08-20 - The U.S. Energy Information Administration sees natural gas output falling by 147 MMcf/d in September, but the Haynesville Shale and Appalachia region continue to pump out more gas than last year.
Southwestern’s New Directions
2023-09-05 - CEO Bill Way has shifted Southwestern Energy’s course from Fayetteville founder to dual-basin natural gas powerhouse. Now the LNG sector’s top supplier aims to establish itself as the leading natural gas company in the U.S. with decades of inventory in the Haynesville Shale and Appalachian Basin.
Permian, Appalachian Basins Biggest Players in NatGas Production Increase, IEA Says
2023-07-19 - New IEA report depicts the U.S. boosting production and Europe’s high sensitivity to Russia’s gas supply.