[Editor’s note: Energy A&D Transactions chart will take a brief hiatus due to the holidays. The next chart will publish on Jan. 6.]
A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Mid | 12/7/20 | BWC Terminals LLC | NuStar Energy LP | $106 |
Bought terminals in Texas City, TX, with petrochemical and petroleum capabilities. (Completed; PSA announced November 2020) |
| Mid | 12/7/20 | J. Global Energy Holdings Inc. | Third Coast Midstream LLC | N/A |
Bought the E TX gathering, processing, and fractionation business, 3CM East Texas. |
| E&P | 12/9/20 | Occidental Petroleum Corp. | ADNOC | $140 |
Acquired exploration rights to Abu Dhabi Onshore Block 5, which covers an onshore area of 4,212 sq km southeast of Abu Dhabi city. |
| Mid | 12/9/20 | Total SA | Sempra Energy | N/A |
Acquired a 16.6% stake in the Energia Costa Azul LNG project in northern Mexico. |
| E&P | 12/9/20 | Whitecap Resources Inc. | TORC Oil & Gas Ltd. | CA$552 |
To buy rival Calgary, Alberta-based TORC Oil & Gas in an all-stock deal; includes Cardium development in central Alberta and exposure to the light oil Torquay/Three Forks resource play in SE Saskatchewan. (Expected to close February) |
| E&P | 12/10/20 | Royal Dutch Shell Plc | Kosmos Energy Ltd. | $200 |
Bought participating interest in select frontier exploration assets including blocks offshore São Tomé & Príncipe, Suriname, Namibia and South Africa; consideration comprises $100 MM upfront cash payment and future contingent payments of up to $100 MM. (Completed; PSA announced September 2020) |
| Renew | 12/11/20 | Brookfield Renewable LP | Exelon Corp. | $810 |
To acquire a distributed generation development platform comprising 360 MW of operating distributed solar across nearly 600 sites throughout the US with an additional over 700 MW under development. (Expected to close 1H 2021) |
| Renew | 12/11/20 | Greenbacker Renewable Energy Co. LLC | RPMA Iowa Wind Development LLC | N/A |
Purchased a 50 MW operating wind farm, Rippey Wind Holding LLC, is located in Greene County, IA and has a 25-year power purchase agreement in place with the investment-grade utility Central Iowa Power Cooperative. |
| E&P | 12/11/20 | Equinor ASA | Rosneft | $550 |
Bought a 49% interest in Russian onshore petroleum assets comprising 12 conventional onshore exploration and production licenses in eastern Siberia. |
| E&P | 12/11/20 | Terra Energy Partners LLC | Ursa Resources Group LLC | $60 |
To purchase assets from bankrupt Ursa Piceance Holdings and various subsidiaries. (Expected to close Dec. 22) |
| E&P | 12/11/20 | Undisclosed | EP Energy Corp. | N/A |
To purchase southern Midland Basin assets in focused on the Wolfcamp Shale in Crocket, Irion, Reagan and Upton counties, TX. (Expected to close January 2021) |
| E&P | 12/14/20 | Gondola Resources LLC | SandRidge Energy Inc | $47 |
To buy SandRidge's North Park Basin asset comprised of 93,000 net acres targeting multiple Niobrara benches in Jackson County, CO. (Expected to close 1Q 2021) |
| S&S | 12/15/20 | Rival Downhole Tools | Hunting Plc | N/A |
Purchased Hunting’s drilling tool business in exchange for Hunting securing a 23.5% minority equity interest in Rival. |
| Mid | 12/15/20 | Stakeholder Midstream LLC | Santa Fe Midstream LLC | N/A |
Acquired gas gathering and processing assets located in Yoakum County, TX, within the San Andres Play in the Permian Basin. |
| Mid | 12/15/20 | TC Energy Corp. | TC PipeLines LP | $1,680 |
To buy the rest of the natural gas pipelines operator and its indirect subsidiary; TC Energy owns a 23.96% stake in TC PipeLines. |
| Renew | 12/16/20 | BP Plc | Finite Carbon Corp. | N/A |
Acquired a majority stake in the largest U.S. carbon offset developer, Finite Carbon. |
| E&P | 12/18/20 | Earthstone Energy Inc. | Independence Resources Management LLC; Warburg Pincus LLC | $189.5 |
To buy the Midland Basin operator with 43,400 net acres in two contiguous blocks and average production of 8,780 boe/d (66% oil); includes 4,900 core net acres in Midland and Ector counties, TX, and 70 undeveloped horizontal locations targeting the Middle Spraberry, Lower Spraberry and Wolfcamp A zones. (Expected to close 1Q 2021) |
| E&P | 12/18/20 | Hilcorp Energy Co. | BP Plc | $5,600 |
Bought BP’s entire upstream and midstream business in AK; includes 26% WI and operatorship of Prudhoe Bay plus the Trans Alaska Pipeline System. (Completed; PSA announced August 2019) |
| E&P | 12/21/20 | Diamondback Energy Inc. | Guidon Operating LLC; Blackstone | $862 |
To purchase Guidon Operating, a Midland Basin operator backed by Blackstone, in exchange for about 10.4 MM FANG stock and $375 MM cash; includes 32,500 net acres in the Northern Midland Basin with 3Q 2020 average production of 17,900 boe/d. (Expected to close February) |
| E&P | 12/21/20 | Diamondback Energy Inc. | QEP Resources Inc. | $2,200 |
To acquire QEP in an all-stock transaction that includes QEP’s net debt of $1.6 billion; assets comprise about 49,000 net acres in the Midland Basin plus a position in the Williston Basin with 3Q 2020 average production of 76,700 boe/d. (Expected to close 1Q or 2Q 2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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