A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 8/1/22 | Comstock Resources Inc. | Undisclosed | $35.6 |
Purchased an “attractive bolt-on acquisition” which included about 60,000 net acres prospective for the Haynesville and Bossier as well as a 145-mile high-pressure pipeline and natural gas treating plant. (Completed in April) |
| S&S | 8/1/22 | Undisclosed; Local management team | Baker Hughes Co. | N/A |
To buy out Baker Hughes’ oilfield services business in Russia for undisclosed terms. (Expected to close 2H 2022) |
| E&P | 8/3/22 | APA Corp. | Titus Oil & Gas LLC; NGP Energy Capital Management LLC | $555 |
Acquired properties in the TX Delaware Basin near its existing operations primarily in Loving and Reeves counties. (Completed July 29) |
| Mid | 8/4/22 | Aris Water Solutions Inc. | Delaware Energy Services | N/A |
Purchased the assets of Delaware Energy Services in exchange for stock and a small, volumetric-based contingent consideration paid over five years; includes seven produced water handling facilities and associated gathering lines in Aris’ core areas of Eddy and Lea cos., NM, in the northern Delaware Basin. |
| E&P | 8/4/22 | Murphy Oil Corp. | Undisclosed | $47 |
Bought additional working interest in the nonoperated Kodiak Field in the US GoM), increasing its working interest to 59.3% from 48.3%. (Completed 2Q 2022) |
| E&P | 8/4/22 | Murphy Oil Corp. | Undisclosed | $77 |
To buy 3.4% of additional working interest in the nonoperated Lucius Field in the US GoM. (Expected to close 3Q 2022) |
| Down | 8/8/22 | Cenovus Energy Inc. | BP Plc | $300 |
To buy the remaining 50% stake and assume operatorship in the BP-Husky Toledo Refinery in OH, which can process up to 160,000 bbl/d of crude oil. (Expected to close by year-end 2022) |
| E&P | 8/9/22 | Devon Energy Corp. | Validus Energy | $1,800 |
To buy privately held Validus Energy with a position of 42,000 net acres in the core of the Karnes County oil window in South Texas adjacent to Devon’s existing leasehold; average production is 35,000 boe/d. (Expected to close 3Q 2022) |
| E&P | 8/10/22 | Earthstone Energy Inc. | Titus Oil & Gas Production LLC; Natural Gas Partners LP | $627 |
Acquired the Permian Basin NM assets of Titus Oil & Gas Production LLC and Titus Oil & Gas Production II LLC and their affiliates located in the northern Delaware Basin in Eddy and Lea Cos. (Completed; PSA announced June 2022) |
| Mid | 8/11/22 | Kinder Morgan Inc. | North American Natural Resources Inc. (NANR) | $135 |
Purchased renewable natural gas producer NANR and its sister companies, North American Biofuels LLC and North American-Central LLC; includes seven landfill gas-to-power facilities in MI and KY. |
| Mid | 8/15/22 | Energos Infrastructure | Apollo Global Management LLC; New Fortress Energy Inc. | $2,000 |
Formed JV a new global LNG maritime platform named Energos Infrastructure owned approximately 80% by Apollo-managed funds and 20% by New Fortress. (Completed; PSA announced July 2022) |
| E&P | 8/15/22 | Northern Oil and Gas Inc. | Undisclosed | $170 |
Acquired nonoperated interests in the Williston Basin primarily located in Dunn, McKenzie and Williams counties, ND; includes approximately 3,500 acres, 9.2 net producing wells, 2.6 net wells-in-process and 14.9 net engineered economic undeveloped locations. (Completed; PSA announced June 2022) |
| Mid | 8/16/22 | Pembina Pipeline Corp.; KKR & Co. Inc. | Energy Transfer LP | CA$1,600 |
Acquired the remaining 51% interest in Energy Transfer Canada, which is one of Alberta’s largest licensed gas processors with natural gas gathering and transportation infrastructure assets in the Western Canadian Sedimentary Basin. (Completed; PSA announced March 2022) |
| E&P | 8/17/22 | Northern Oil and Gas Inc. | Laredo Petroleum Inc. | $110 |
To buy certain nonoperated properties within the Midland Basin of the Permian located in in Howard County, TX; includes 1,650 net acres and expected full-year 2023 average net production of 1,800 boe/d (roughly 72% oil) substantially operated by SM Energy. (Expected to close October) |
| Mid | 8/17/22 | Phillips 66 Co. | Enbridge Inc.; DCP Midstream LP | $3,290 |
Acquired increased stake in DCP Midstream through a merger of existing JVs owned with Enbridge that includes the selldown of interests and relinquish of operatorship in the Gray Oak Pipeline LLC in the Permian Basin; includes $400 MM cash payment. |
| E&P | 8/18/22 | Tellurian Inc.; Tellurian Production LLC | EnSight Energy Partners LP | $133 |
Purchased the natural gas assets of EnSight IV Energy Partners LLC and EnSight Haynesville Partners LLC located in the core of the Haynesville Shale in DeSoto, Bossier, Caddo, and Webster parishes, LA; includes about 5,000 net acres, 30 gross drilling locations and roughly 45 MMcf/d (100% natural gas) of current net production with 108 Bcf of proved reserves. (Completed; PSA announced July 2022) |
| E&P | 8/18/22 | Undisclosed | Crew Energy Inc. | CA$130 |
Purchased certain noncore Crew Energy assets at Attachie and Portage in northeast British Columbia including approximately 47,025 net acres of Montney rights with total proved reserves of 4.7 million boe. |
| E&P | 8/22/22 | Brigham Minerals Inc. | Avant Natural Resources LLC | $132.5 |
To purchase about 3,900 net royalty acres in the Permian in the core of the Mineral Basin in Martin and Midland counties, TX; includes 253 gross wells spud over the last 12-months and 2023 estimated production totaling between 750 and 950 boe/d (60% oil). (Expected to close mid-October) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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