A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 1/31/21 | Surge Energy US Holdings Co. | Grenadier Energy Partners II LLC; EnCap Investments LP | $420 |
To buy Midland Basin leasehold interest and producing wells in Howard County, TX, in the Permian covering approximately 18,010 net acres, an operated inventory of approximately 120 future drilling locations and average production of about 9,000 boe/d (75% oil). (Expected to close 1Q 2021) |
| E&P | 2/1/21 | Contango Oil & Gas Co. | Undisclosed | $58 |
Bought assets in the Big Horn, Permian, and Powder River Basins via a bank owned liquidation of assets. (Completed; PSA announced December 2020) |
| E&P | 2/1/21 | PTT Exploration and Production Public Co. Ltd. (PTTEP) | BP Plc | $2,600 |
To buy a 20% stake in Oman’s Block 61. (Expected to close during 2021) |
| E&P | 2/2/21 | Inpex Corp. | Exxon Mobil Corp. | N/A |
Acquired a portion (2.3546%) of the participating interest (23.29512%) in the Lucius and Hadrian North fields, both located offshore LA in Keathley Canyon Block of the US GoM. |
| E&P | 2/3/21 | Northern Oil and Gas Inc. | Reliance Industries Ltd. | $250 |
To acquire a 27% blended WI and 64,000 net acres in the Marcellus Shale of the Appalachian Basin in SW PA; assets were producing approximately 120 MMcfe/d of natural gas at the effective date of July 1, 2020 net to Northern. |
| Mid | 2/4/21 | CorEnergy Infrastructure Trust Inc. | Crimson Midstream LLC | $350 |
Purchased Crimson Midstream Holdings including four infrastructure pipeline systems spanning approximately 1,800 miles across CA, connecting crude production to in-state refineries. |
| E&P | 2/4/21 | EnQuest Plc | Suncor Energy Inc. | $375 |
To buy 26.69% nonoperated equity interest in the Golden Eagle development area, comprising the producing Golden Eagle, Peregrine and Solitaire fields in the UK North Sea; expected to include around 10,000 boe/d or production and includes a contingent payment of up to $50 MM due 2H 2023. |
| E&P | 2/4/21 | Undisclosed | Sumitomo Corp. | N/A |
Purchased a 100% operated stake in a tight oil producing asset within the Eagle Ford formation of S TX in Karnes County; included 624 acres with estimated peak production of 3,000 boe/d. (Closed 4Q 2020) |
| Mid | 2/5/21 | Chevron Corp. | Noble Midstream Partners LP | N/A |
To buy any remaining Noble Midstream interests not already owned by Chevron and its affiliates (62.5% stake) at $12.47 per common unit, valuing the Houston-based pipeline operator at $1.13 B; subject to negotiation and board approval. |
| Renew | 2/5/21 | Total SA | SunChase Power LLC; MAP RE/ES | N/A |
To buy a development pipeline of TX solar projects and battery storage assets; four large-scale solar projects located outside Houston set to generate 2.2 GW. |
| E&P | 2/8/21 | Gondola Resources LLC | SandRidge Energy Inc. | $47 |
Bought SandRidge’s North Park Basin asset comprised of 93,000 net acres targeting multiple Niobrara benches in Jackson County, CO. (Completed; PSA announced December 2020) |
| S&S | 2/9/21 | Kentech Corporate Holdings Ltd.; Blue Water Energy LLP | SNC-Lavalin Group Inc. | N/A |
To buy the SNC-Lavalin oil and gas business, including Services and Lump-Sum Turnkey. (Expected to close 2Q 2021) |
| E&P | 2/9/21 | Panoro Energy ASA | Tullow Oil Plc | $180 |
To buy stakes in nonoperated offshore oil fields in Equatorial Guinea and Gabon; includes 6,900 bbl/d net production. |
| E&P | 2/10/21 | ARC Resources Ltd. | Seven Generations Energy Ltd. | CA$2,700 |
To acquire Calgary, Alberta producer Seven Generations; includes 528,000 net acres in the Montney Shale with 180-185 Mboe/d of 2021 production. |
| E&P | 2/10/21 | Grayson Mill Energy LLC; EnCap Investments LP | Equinor ASA | $900 |
To acquire Equinor’s interests in the Bakken field; includes operated and nonoperated acreage, totaling 242,000 net acres, and associated midstream assets in North Dakota and Montana with production of 48,000 boe/ (net of royalty interests) for 4Q 2020. |
| Mid | 2/15/21 | Howard Energy Partners | MPLX LP | N/A |
Purchased the Javelina Facility, which provides refinery services, located in Corpus Christi, TX. |
| S&S | 2/15/21 | Quorum Software | Aucerna | N/A |
Acquired through a merger with Aucerna, a globally provider of integrated planning, execution and reserves software for the energy industry based in Calgary, Alberta, backed by Thoma Bravo. |
| S&S | 2/15/21 | Quorum Software | TietoEVRY | N/A |
To acquire TietoEVRY’s entire oil and gas software business, which includes the leading Energy Components hydrocarbon management solutions and DaWinci solution for personnel and materials logistics. |
| E&P | 2/16/21 | Continental Resources Inc. | Samson Resources II LLC | $215 |
To buy Powder River Basin assets in WY consisting of about 130,000 net acres and 9,000 boe/d (80% oil) of current net production. (Expected to close March) |
| Mid | 2/16/21 | Pine Run Gathering LLC; Stonehenge Energy Resources II LLC; UGI Energy Services LLC | PennEnergy Resources LLC | $205 |
Acquired Pine Run Midstream, which operates 43-miles of dry gas gathering pipeline and compression assets located in Butler and Armstrong Cos. in western PA in the Appalachian Basin. |
| Mid | 2/16/21 | WhiteWater Midstream LLC | Enstor Gas LLC; ArcLight Capital Partners LLC | N/A |
Acquired Waha gas storage assets located near the trading hub in W TX with the capacity, when fully developed, to store approximately 10 Bcf of natural gas and include six underground storage caverns and permits for five additional caverns. |
| E&P | 2/17/21 | Crescent Point Energy Corp. | Royal Dutch Shell Plc | CA$900 |
To buy Shell’s position in the Kaybob Duvernay play in Alberta including approximately 30,000 boe/d (57% condensate, 8% NGL, 35% shale gas) of production plus an inventory of about 200 net internally identified drilling locations; total consideration consists of CA$700 MM in cash and 50 MM common shares. (Expected to close April) |
| E&P | 2/17/21 | Distinction Energy Corp. | Ovintiv Inc. | $236 |
To acquire Ovintiv’s Duvernay asset in Alberta including production averaged approximately 10,000 boe/d (43% liquids) in 4Q 2020; transaction consideration includes $12 MM of contingent payments based on future commodity prices. (Expected to close 2Q 2021) |
| Mid | 2/17/21 | Energy Transfer LP | Enable Midstream Partners LP | $7,200 |
To acquire Oklahoma City-based Enable with natural gas gathering and processing assets in the Anadarko Basin in Oklahoma plus gas gathering and processing assets in the Arkoma Basin and the Haynesville Shale; all-equity transaction includes debt. (Expected to close mid-2021) |
| S&S | 2/18/21 | Baker Hughes Co. | ARMS Reliability | N/A |
To acquire ARMS Reliability and integrate the global provider of reliability solutions to some of the world’s largest industrial companies across a wide range of industries including mining, oil and gas, power, manufacturing and utilities into the Bently Nevada product line within Baker Hughes’ Digital Solutions segment. |
| Mid | 2/22/21 | ArcLight Capital Partners LLC | Kinder Morgan Inc.; Brookfield Infrastructure Partners LP | $830 |
To buy a 25% minority interest in jointly owned Natural Gas Pipeline Co. of America LLC (NGPL). (Expected to close 1Q 2021) |
| E&P | 2/24/21 | HitecVision AS; NEO Energy | Exxon Mobil Corp. | $1,300 |
To buy nonoperated upstream assets in the U.K. central and northern North Sea comprised of ownership interests and 38,000 boe/d of production in 14 producing fields; transaction includes about $300 MM of contingency payments tied to commodity prices. (Expected to close midyear 2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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