A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 11/22/21 | Paloma Partners VI Holdings LLC; EnCap Investments LP | Goodrich Petroleum Corp. | $480 |
To acquire Houston-based Goodrich, which has acreage positions in the Haynesville Shale in N LA and E TX, the Tuscaloosa Marine Shale in LA and MS and the Eagle Ford Shale trend in S TX. (Expected to close December 2021) |
| E&P | 11/22/21 | SilverBow Resources Inc. | Undisclosed | $75 |
Acquired from two sellers 17,000 total net acres in the oil window of the Eagle Ford shale play in La Salle, McMullen, DeWitt and Lavaca cos., TX, with approximately 2,500 boe/d (71% liquids / 46% oil) of net production in May from 111 PDP wells; includes over 100 net drilling locations. (Completed; PSA announced October 2021) |
| E&P | 11/23/21 | Dorchester Minerals LP | Undisclosed | $29 |
To buy mineral and royalty interests representing approximately 4,600 net royalty acres located in 27 counties across NM, OK, TX & WY. (Expected to close by year-end 2021) |
| E&P | 11/29/21 | PrairieSky Royalty Ltd. | Heritage Royalty LP | CA$728 |
To purchase over 1.9 million acres of royalty lands throughout Alberta, Saskatchewan and Manitoba plus over 1.7 million net acres of fee simple mineral title lands and extensive seismic assets complementary to the royalty lands; includes current estimated royalty production of 2,700 boe/d (92% liquids). (Expected to close December) |
| E&P | 11/30/21 | InPlay Oil Corp. | Prairie Storm Energy Corp. | CA$45 |
Acquired the light-oil Cardium focused producer with operations primarily in the Willesden Green area of central Alberta. (Completed; PSA announced September 2021) |
| Down | 11/30/21 | Parkland Corp.; Federated Co-operatives Ltd. | Cenovus Energy Inc. | CA$420 |
To buy 337 gas stations in the Husky retail fuels network. (Expected to close mid-2022) |
| E&P | 11/30/21 | Undisclosed | Cenovus Energy Inc. | CA$238 |
To purchase Montney assets in Wembley part of Cenovus’ conventional business; total production averaged approximately 3,200 boe/d in 2021, with about 38% oil and NGL. (Expected to close in December) |
| E&P | 12/1/21 | ConocoPhillips Co. | Royal Dutch Shell Plc | $9,500 |
Acquired Shell’s Permian business comprising approximately 225,000 net acres within the Delaware Basin located entirely in West Texas with current production of around 175,000 boe/d. (Completed; PSA announced September 2021) |
| E&P | 12/1/21 | Henry Resources LLC; Pickering Energy Partners LP | Centennial Resource Development Inc. | $101 |
Purchased approximately 6,200 net leasehold acres and related assets located in Reeves County, TX, within the Delaware sub-basin of the Permian; 3Q 2021 estimated average net production associated with the acreage was approximately 1,600 boe/d (64% oil). (Completed; PSA announced November 2021) |
| E&P | 12/1/21 | PHX Minerals Inc. | Undisclosed | $1.4 |
Bought approximately 172 net royalty acres primarily in Carter and Stephens counties, OK, predominately located in the Springboard III area of the SCOOP play. |
| Mid | 12/1/21 | Rattler Midstream LP | Diamondback Energy Inc. | $160 |
Purchased certain water midstream assets in the Permian Basin through a dropdown, consisting primarily of produced water gathering and disposal systems, produced water recycling facilities and sourced water gathering and storage assets. (Completed; PSA announced October 2021) |
| E&P | 12/1/21 | Undisclosed | PHX Minerals Inc. | $3 |
Purchased two packages of assets totaling 193 nonoperated legacy working interest wellbores primarily in the Arkoma Shale and Western Anadarko Shale plays of OK; includes assumption of approximately $500,000 of asset retirement obligation. |
| Mid | 12/2/21 | Energy Transfer LP | Enable Midstream Partners LP; CenterPoint Energy Inc; OGE Energy Corp. | $7,200 |
Acquired Houston-based Enable Midstream through an all-stock merger agreement; includes natural gas gathering and processing assets in the Anadarko Basin in OK, along with intrastate and interstate pipelines in OK and surrounding states plus assets in Arkoma Basin across OK and AR and the Haynesville Shale in E TX and N LA. (Completed; PSA announced February 2021) |
| E&P | 12/7/21 | Crescent Energy Co.; KKR & Co. Inc. | Contango Oil & Gas Co.; Independence Energy LLC | N/A |
Acquire Fort Worth, TX-based Contango in an all-stock combination creating Crescent Energy, a platform targeting acquisitions of low-decline, producing upstream oil and natural gas assets with an enterprise value of about $5.7 billion. (Completed; PSA announced June 2021) |
| S&S | 12/8/21 | ChampionX Corp. | Group 2 Technologies LLC | N/A |
Acquired Houston-based Group 2 Technologies, a provider of novel, patented extended-release chemistries that significantly lengthen treatment lifetimes of production chemicals, enhancing customer operations. |
| S&S | 12/8/21 | ChampionX Corp. | Tomson Technologies LLC | N/A |
Acquired Houston-based Tomson a commercial research laboratory providing a wide range of services including advanced research and development, advanced product development support, chemical performance studies, and project-based development and support services. |
| E&P | 12/8/21 | ConocoPhillips Co. | Origin Energy Ltd. | $1,645 |
To purchase an additional 10% shareholding interest in Australia Pacific LNG as part of its preemption right; ConocoPhillips currently holds a 37.5% APLNG shareholding interest and would own 47.5% of APLNG upon closing. |
| E&P | 12/8/21 | MedcoEnergi | ConocoPhillips Co. | $1,355 |
To buy ConocoPhillips’ 54% interest in the Indonesia Corridor Block PSC and a 35% shareholding interest in the Transasia Pipeline Co.; includes about 50,000 boe/d of production and year-end 2020 proved reserves of 85 million boe. |
| E&P | 12/9/21 | BCE-Mach LLC; Mach Resources LLC; Bayou City Energy Management LLC | Undisclosed | $66.5 |
To acquire, in separate transactions, additional working interest across 61 wells it operates in Kingfisher County, OK, in the STACK play and 66,000 net acres in the Mississippi Lime play with 193 operated wells primarily located in Barber County, KS, plus 16 disposal wells and corresponding gathering system. (Expected to close 1Q 2022) |
| Renew | 12/14/21 | Royal Dutch Shell Plc; Shell New Energies US LLC | Savion LLC; Macquarie Group Ltd. | N/A |
To buy 100% of Savion, a U.S.-based solar and energy storage developer with a pipeline of more than 18 GW of solar and energy storage projects with over 100 projects under development in 26 states. (Expected to close by year-end 2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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