A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Mid | 11/2/20 | Berkshire Hathaway Inc. | Dominion Energy Inc. | $9,700 |
Bought Dominion's natural gas transmission and storage business; includes over 7,700 miles of natural gas transmission lines, with about 20.8 Bcf/d of transportation capacity and 900 Bcf of operated natural gas storage with 364 Bcf of company-owned working storage capacity, and partial ownership of a LNG export facility plus assumption of $5.7 B debt. (Completed; PSA announced July 2020) |
| Mid | 11/2/20 | BWC Terminals LLC | NuStar Energy LP | $106 |
To buy terminals in Texas City, TX, with petrochemical and petroleum capabilities. (Expected to close 4Q 2020) |
| S&S | 11/2/20 | Dresser Natural Gas Solutions (NGS) | Flow Safe Inc. | N/A |
Purchased Flow Safe, a leading manufacturer of spring-operated and pilot-operated high-performance pressure relief devices based in Orchard Park, NY. |
| S&S | 11/2/20 | Lufkin Industries LLC; KPS Capital Partners LP | Schlumberger Ltd. | N/A |
Purchased Schlumberger’s rod-lift business with an expansive footprint across all major oil-producing regions onshore in North America, including the Permian Basin; includes Don-Nan, Shores Lift Solutions, KBA Engineering, Platinum Pumpjack Services and RLC Rod Lift Consulting. |
| S&S | 11/3/20 | Baker Hughes Co. | Compact Carbon Capture AS (3C) | N/A |
To buy Norway-based 3C, a pioneering technology development company specializing in carbon capture solutions. |
| Mid | 11/4/20 | Denbury Inc. | Genesis Energy LP | $92.5 |
Purchased through restructured pipeline arrangements the Northeast Jackson Dome Pipeline system in LA and the Free State Pipeline in E MS. |
| E&P | 11/4/20 | Tourmaline Oil Corp. | Jupiter Resources Inc. | CA$626 |
To acquire Calgary, Alberta-based Jupiter Resources and its assets in the Western Canadian Sedimentary Basin/Albert Deep Basin in an all-stock deal; includes assumption of about CA$200 MM of net debt. (Expected to close December) |
| E&P | 11/4/20 | Tourmaline Oil Corp. | Modern Resources Inc. | CA$144 |
Acquired Calgary, Alberta-based Modern Resources and its assets in the Western Canadian Sedimentary Basin/Albert Deep Basin in a cash and stock deal. |
| E&P | 11/6/20 | BHP Group Plc | Hess Corp. | $505 |
Acquired Hess' stake comprised of a 28% working interest in the Shenzi Field in the deepwater GoM. (Completed; PSA announced October 2020) |
| E&P | 11/8/20 | Ameredev | Lilis Energy Inc. | $46.6 |
To buy substantially all of Lilis’ assets through a Chapter 11 bankruptcy auction including approximately 16,000 net acres located in Permian’s Delaware sub-basin in Winkler and Loving Cos., TX, and Lea County, NM. (Expected to close December 2020) |
| E&P | 11/9/20 | Bonanza Creek Energy Inc. | HighPoint Resources Inc. | $376 |
To acquire rival D-J Basin producer in a merger that includes the restructuring of HighPoint; combined company will have production of 50,000 boe/d and a consolidated, contiguous leasehold position of approximately 206,000 net acres in rural Weld County, CO. (Expected to close 1Q 2021) |
| E&P | 11/9/20 | Headwater Exploration Inc. | Cenovus Energy Inc. | CA$100 |
To purchase Marten Hills oil assets in northern Alberta in the Clearwater play; includes 100% WI in about 2,800 bbl/d of medium oil production and 270 net sections of Clearwater rights. (Expected to close year-end 2020) |
| Mid | 11/9/20 | Riverstone Holdings LLC | International-Matex Tank Terminals (IMTT); Macquarie Group Ltd. | $2,685 |
To acquire New Orleans-based IMTT, which operates 19 bulk liquid storage terminals East, West and Gulf Coasts, as well as the Great Lakes region with total storage capacity of about 48 MMbbl. (Expected to close late 2020/early 2021) |
| Mid | 11/10/20 | Easton Energy LLC | Exxon Mobil Corp. | N/A |
To buy the South Texas Pipeline System, which is a petrochemical pipeline system that runs from Houston to Corpus Christi, TX. (Expected close early 2021) |
| E&P | 11/10/20 | EOG Resources Inc. | Tethys Oil AB | N/A |
To acquire a 50% interest in the exploration and production sharing agreement covering Block 49 onshore Oman as part of a farm-out. |
| S&S | 11/10/20 | Innovex Downhole Solutions Inc.; Intervale Capital LLC | Rubicon Oilfield International Holdings LP; Warburg Pincus LLC | N/A |
To acquire Houston-based oilfield products and technical services company Rubicon. (Expected to close early 2021) |
| E&P | 11/10/20 | Total SA | Tullow Oil Plc | $575 |
Bought Tullow’s roughly 33.3% stake in the Uganda Lake Albert onshore development project including the East African Crude Oil Pipeline. (Completed; PSA announced April 2020) |
| E&P | 11/13/20 | Southwestern Energy Co. | Montage Resources Corp. | $213 |
Acquired to acquire Montage Resources in an all-stock, adding 325,000 net acres in Appalachia’s Utica and Marcellus shale plays across OH, PA and WV. (Completed; PSA announced August 2020) |
| E&P | 11/30/20 | Contango Oil & Gas Co. | Undisclosed | $58 |
To buy assets in the Big Horn, Permian, and Powder River Basins via a bank owned liquidation of assets. (Expected to close Dec. 31) |
| S&S | 11/30/20 | S&P Global Inc. | IHS Markit Ltd. | $44,000 |
To acquire London-based IHS Markit in an all-stock transaction valuing IHS Markit at an enterprise value of $44 B, including $4.8 B of net debt. (Expected to close 2H 2021) |
| E&P | 12/2/20 | Maverick Natural Resources LLC; EIG Global Energy Partners | FourPoint Energy LLC | N/A |
Acquired FourPoint Energy, the largest producer in the Western Anadarko Basin, in an all-equity merger between the two companies majority controlled by EIG Global Energy Partners; FourPoint became a subsidiary of Maverick and was renamed Unbridled Resources LLC. |
| Mid | 12/2/20 | Sempra Energy | IEnova | $6,130 |
To buy remaining 33.57% stake in its Mexican unit IEnova in an all-stock deal to create Sempra Infrastructure Partners through merger with its North American LNG export infrastructure unit Sempra LNG. (Expected to close 1Q 2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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