A&D DEAL SHEET
|E&P||1/31/2023||Diamondback Energy Inc.||Lario Permian LLC; Lario Oil & Gas Co.||$1,550||
Closed an acquistion of leasehold interest and related assets of Lario Permian, adding approximately 25,000 gross (15,000 net) acres and over 150 gross locations in the core of the northern Midland Basin in Martin and Midland counties, TX.
|E&P||1/30/2023||Alliance Resource Partners LP||JC Resources LP||$72.3||
To acquire 2,682 net oil and gas royalty acres in the Permian Basin.
|E&P||1/24/2023||Arena Energy LLC||Cox Operating LLC||N/A||
Close an acquisition of Cox's interests in the Eugene Island 330 and South Marsh 128 oil blocks.
|E&P||1/24/2023||Matador Resources Co.||Advance Energy Partners Holdings LLC; EnCap Investments LP||$1,600||
To acquire 18,500 net acres, 99% held by production, adding 406 gross (203 net) drillable horizontal locations with prospective targets throughout the Wolfcamp, Bone Spring and Avalon formations. Purchase price does not include contingency payments.
|E&P||1/18/2023||WildFire Energy I LLC||Chesapeake Energy Corp.||$1,425||
To sell approximately 377,000 net acres and approximately 1,350 wells in the Brazos Valley, along with related property, plant and equipment.
|Ørsted||Public Service Enterprise Group||N/A||
Agreed to buy partner Public Service Enterprise Group's 25% stake in the 1,100-megawatt Ocean Wind 1 project being developed offshore New Jersey.
|E&P||1/17/2023||Permian Resources Corp.||N/A||$98||
To acquire 4,000 net leasehold acres, 3,300 net royalty acres and average net production of 1,100 boe/d (73% oil).
|E&P||1/17/2023||N/A||Permian Resources Corp.||$70||
Divested producing, non-operated Reeves County leasehold consisting of an average 1,800 boe/d and 3,500 net leasehold acres.
|MID||1/17/2023||Permian Resources Corp.||N/A||$125||
To divest a portion of its saltwater disposal wells and associated produced water infrastructure in Reeves County.
|E&P||1/17/2023||WhiteHawk Energy LLC||N/A||$105||
To acquire Haynesville Shale mineral and royalty interests, which include production from more than 1,230 horizontal wells.
|E&P||1/9/2023||Northern Oil and Gas||Midland-Petro D.C. Partners LLC||$320||
NOG acuired 39.958% working interest in Midland-Petro D.C. Partners’ Mascot Project, a 3.25% increase after the company kicked in another $29 million.
|MID||1/8/2023||Phillips 66||DCP Midstream LP||$3,800||
To acquire more than 43% more interest in NGL pipeline system, bringing Phillips 66's total stake to 86.8%.
|Renew||1/6/23||Canadian Utilities Ltd.; ATCO||Suncor Energy Inc.||CA$713||
Closed an acquisition of Suncor's Canadian wind and solar projects that include 202 MW wind projects as well as other assets.
|Renew||1/3/2023||Chevron Corp.||Beyond6 LLC; Mercuria Energy Trading||N/A||
Closed on acquisition of Beyond6 and its network of 55 compressed natural gas (CNG) stations across the US.
|MID||1/3/2023||Targa Resources Corp.||Blackstone Energy Partners||$1,050||
To acquire remaining 25% stake in the Grand Prix NGL Pipeline.
|Renew||12/30/2022||Boralex Inc.||EDF Renewables North America||CA$339.7||
Acquired a 50% interest in five operating wind farms in Texas and New Mexico in a deal valued at CAD$339.7 million (US$249.8 million).
|E&P||12/29/2022||Sitio Royalties Corp.||Brigham Minerals Inc.||$4,800||
Closed all-stock merger; combined company will consist of a total of 259,510 net royalty acres in the Permian Basin and other oil-focused regions.
|Renew||12/28/2022||BP Plc||Archaea Energy Inc.||$4,100||
Purchased Houston-based RNG producer, Archaea, which operates about 50 RNG and landfill gas-to-energy facilities across the U.S.
|Renew||12/27/2022||Superior Plus Corp.||Centaurs Ltd.||CA$1,050||
To acquire Certarus Ltd., a low-carbon energy solutions provider based in North America
|E&P||12/27/2022||PHX Minerals Inc.||N/A||$10.7||
To purchase WI in 151 non-operated Arkoma Basin wells and WI in 106 non-operated Eagle Ford wells
|E&P||12/27/2022||Camber Energy Inc.||Brothers Investments LLC; Lake Boeuf Investments LLC; Bass TMJ LLC; James III Investments LLC||$69||
To acquire working interests in approximately 169 proved, producing oil wells averaging about 2,000 net bbl/d of oil and other assets.
Diamondback Doubles Asset Sales Target to $1B, Reveals More Midland M&A
2023-02-24 - The Permian pure play is selling off midstream assets and upstream leasehold that can’t compete for capital in the company’s portfolio, Diamondback Chairman and CEO Travis Stice told investors.
SM Energy Boosts Q4 Income But 2023 Guidance Underwhelms
2023-02-24 - Lower-than-estimated fourth-quarter oil production volumes are expected to stretch through 2023, while capex is expected to increase by over $200 million.
Ecopetrol Eyes Double-digit Permian Production Growth in 2023
2023-03-03 - Colombia’s state oil company Ecopetrol looks to report another year of double-digit production in the Permian, where it has joint operations with Occidental Petroleum.
Despite Gas Price Slump, EOG Full Steam Ahead in Emerging Plays
2023-03-02 - Undeterred by volatility in U.S. natural gas prices, Houston-based EOG Resources plans to accelerate drilling and gas production this year, including its emerging plays in South Texas and the Utica Shale.
M&A Drives Crestwood Equity Partners Q4 Earnings
2023-02-23 - M&A activity drove Crestwood Equity Partner’s 2022 fourth-quarter earnings, but the company said it will not be a priority in 2023.