A&D DEAL SHEET |
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|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| S&S | 12/13/21 | Select Energy Services Inc. | HB Rentals LC | N/A |
Purchased the Superior Energy Services subsidiary that operates a leading rentals and accommodations company with current operations in the Permian, Haynesville, Midcontinent, Northeast and Rockies regions. |
| S&S | 12/13/21 | Select Energy Services Inc. | Nuverra Environmental Solutions Inc. | $45 |
To buy the Houston-focused energy-focused environmental solutions company, providing comprehensive, full-cycle environmental solutions for E&P companies operating across the U.S., including in the Bakken, Haynesville, Marcellus and Utica shale plays. (Expected to close 1Q 2022) |
| S&S | 12/14/21 | Kimray Inc. | Control Equipment Inc. | N/A |
Purchased Texas-based Control Equipment, which serves as Kimray's largest distributor with offices in Cleburne, Lubbock, Odessa, Pampa and Wichita Falls. |
| 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) |
| E&P | 12/15/21 | PrairieSky Royalty Ltd. | Heritage Royalty LP | CA$728 |
Purchased 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). (Completed; PSA announced November 2021) |
| E&P | 12/15/21 | Tamarack Valley Energy Ltd. | Crestwynd Exploration Ltd. | CA$184.7 |
To acquire privately held pure-play Clearwater oil producer Crestwynd; includes 99,360 net acres and 209 gross (153.7 net) drilling locations plus 9.6 million boe of proved plus probable reserves. (Expected to close February 2022) |
| E&P | 12/16/21 | Earthstone Energy Inc. | Chisholm Energy Holdings LLC; Warburg Pincus LLC | $604 |
To acquire privately held Permian Basin operator with approximately 36,100 net acres and a drilling inventory of 414 gross (237 net) operated identified locations in the northern Delaware Basin in Eddy and Lea Cos., NM; current net production is about 13,500 boe/d (61% oil, 79% liquids). |
| E&P | 12/17/21 | Brigham Minerals Inc. | Undisclosed | $95.6 |
Acquired 8,400 net royalty acres in the D-J Basin primarily in Weld County, CO, including 10.37 net producing wells, 1.6 net PUDs and 1.5 net drilling permits. (Completed; PSA announced November 2021) |
| Mid | 12/20/21 | BP Plc | BP Midstream Partners LP | $723 |
To acquire all outstanding common units of BP Midstream Partners not already owned directly or indirectly by BP, representing roughly 47.8 million common units, in an all-stock transaction. (Expected to close 1Q 2022) |
| E&P | 12/21/21 | Aker BP | Lundin Energy | $13,900 |
To buy the oil and gas business of Sweden’s Lundin Energy, forming the second-largest listed petroleum firm on the Norwegian Continental Shelf. |
| E&P | 12/21/21 | Continental Resources Inc. | Pioneer Natural Resources Co. | $3,250 |
Acquired Pioneer’s Delaware Basin position in the Permian covering approximately 92,000 net acres in Pecos, Reeves, Ward and Winkler Cos. in W TX with net production of approximately 50,000 boe/d and over 650 gross operated locations in Third Bone Spring/Wolfcamp A and B. (Completed; PSA announced November 2021) |
| E&P | 12/29/21 | Undisclosed | Diversified Energy Co. Plc; Oaktree Capital Management LP | $72.8 |
Purchased 22,729 net acres of predominantly undeveloped Haynesville Shale leasehold in Harrison, Leon, Panola, Robertson and Rusk counties, TX, and 38 gross wells producing approximately 1,700 net Mcf/d as of November, net to Diversified. (Completed; PSA announced November 2021) |
| E&P | 12/30/21 | FireBird Energy LLC | Chevron Corp. | N/A |
Acquired 21,000 net acres (99% operated) in the western Midland Basin of the Permian across Ector, Midland, Crane, and Upton counties, TX. |
| Mid | 12/31/21 | Southwest Gas Holdings Inc. | Dominion Energy Inc.; Questar Pipeline LLC | $1,975 |
Bought Questar Pipelines, a Rocky Mountain energy hub with 2,160-miles of highly contracted, FERC-regulated interstate natural gas pipelines providing transportation and underground storage services in UT, WY and Co; includes assumption of $430 MM of debt. (Completed; PSA announced October 2021) |
| E&P | 12/31/21 | Dorchester Minerals LP | Undisclosed | $29 |
Bought mineral and royalty interests representing approximately 4,600 net royalty acres located in 27 counties across NM, OK, TX & WY. (Completed; PSA announced November 2021) |
| E&P | 12/31/21 | Southwestern Energy Co. | GEP Haynesville LLC; GeoSouthern Energy Corp.; GSO Capital Partners LP | $1,850 |
Acquired GEP Haynesville, the third largest private Haynesville operator, in a cash-and-stock transaction; includes 226,000 net effective acres with estimated net resource potential of 6 Tcfe, approximately 700 MMcf/d of production and 700 locations. (Completed; PSA announced November 2021) |
| E&P | 1/4/22 | Lime Rock Resources LP | Abraxas Petroleum Corp. | $87.2 |
Acquired the Williston Basin properties of Abraxas consisting of approximately 3,500 acres in McKenzie County, ND. |
| E&P | 1/4/22 | Lime Rock Resources LP | Undisclosed | $271.3 |
Bought Austin Chalk and Eagle Ford properties on approximately 46,000 highly contiguous net acres located in Burleson, Milam and Robertson counties, TX, from a private seller; properties produced approximately 7,700 boe/d as of the closing of the acquisition. |
| S&S | 1/4/22 | Milestone Environmental Services LLC | Undisclosed | N/A |
Bought an active slurry injection facility in the E TX Haynesville Shale with two injection wells, located in Shelby County; includes two additional permits for energy waste landfills in TX, one in the Haynesville and the other in the Permian Basin. |
| Mid | 1/4/22 | UGI Corp.; UGI Energy Services LLC | Stonehenge Energy Holdings LLC; Stonehenge Appalachia LLC | $190 |
To purchase the Stonehenge Appalachia natural gas gathering system in Butler County, PA, comprising more than 47 miles of pipeline and associated compression assets and gathering capacity of 130 MMcf/d. (Expected to close by Jan. 31) |
| E&P | 1/5/22 | UpCurve Energy Partners II LLC | Undisclosed | N/A |
Purchased roughly 2,000 additional net acres in Reeves County, TX, within the southern Delaware Basin of the Permian; includes about 2,000 boe/d of production. |
| E&P | 1/6/22 | Rising Phoenix Royalties | Undisclosed | N/A |
Bought 98 net royalty acres within the Marcellus Shale in the Appalachian Basin in Washington County, PA, operated by Range Resources. |
| Mid | 1/10/22 | Enterprise Products Partners LP | Navitas Midstream Partners LLC; Warburg Pincus LLC | $3,250 |
To acquire The Woodlands, TX-based Navitas backed by Warburg Pincus; includes approximately 1,750 miles of pipelines and over 1 Bcf/d of cryogenic natural gas processing capacity in the Midland Basin of the Permian. (Expected to close 1Q 2022) |
| Mid | 1/10/22 | Targa Resources Corp. | Stonepeak Partners LP | $925 |
To buy back the interests in its development company JVs used to fund the development of key downstream projects; includes interest in the Grand Prix NGL Pipeline and Gulf Coast Express Pipeline, which both serve Permian Basin producers, as well as Targa’s Train 6 fractionator in Mont Belvieu, TX. (Expected to close Jan. 14) |
| E&P | 1/10/22 | W&T Offshore Inc. | ANKOR E&P Holdings Corp.; KOA Energy LP | $47 |
To acquire working interests in and operatorship of oil and gas producing properties in federal shallow waters in the central region of the US GoM; includes approximately 3,400 boe/d (74% oil) and average working interest of 80%. (Expected to close 1Q 2022) |
| Renew | 1/11/22 | Exxon Mobil Corp. | Biojet AS | N/A |
Purchased a 49.9% stake in Norwegian biofuels company Biojet, which plans to develop up to five facilities to produce biofuels from forestry and wood-based construction waste with commercial production expected to begin in 2025. |
| E&P | 1/12/22 | Falcon Minerals Corp. | Desert Peak Minerals; Kimmeridge Energy Management Co. LLC | $1,900 |
To acquire in all-stock merger creating a mineral and royalty company with a significant Permian and Eagle Ford footprint and an enterprise value of $1.9 B; combined assets include over 139,000 NRAs, 105,000 of which are located in the Permian Basin, and projected production of 13,500-14,500 boe/d for 1H 2022. (Expected to close 2Q 2022) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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