A&D DEAL SHEET
|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)
Bought Taymyrneftegaz which owns the huge Payakha oil field in the Taymyr peninsula in the Arctic.
|E&P||12/29/20||Denbury Inc.||Devon Energy Corp.||$20||
To buy a nearly 100% working interest (approximately 83% net revenue interest) in the Big Sand Draw and Beaver Creek oil fields located in Freemont County, WY, with net production of about 2,800 boe/d (85% oil); includes two cash payments of $4 million each contingent on the price of WTI. (Expected to close 1Q 2021)
|Mid||12/29/20||Howard Energy Partners||MPLX LP||N/A||
To purchase the Javelina Facility, which provides refinery services, located in Corpus Christi, TX. (Expected to close early 2021)
|E&P||12/30/20||Energean Plc||Kerogen Capital||$405||
To acquire the remaining 30% stake in its Israeli offshore fields in the eastern Mediterranean for a $175 MM upfront payment plus a deferred payment of $125 MM to $150 MM upon completion of the Karish project. (Expected to close 1Q 2021)
|E&P||12/30/20||Sval Energi AS||Edison SpA||$300||
To buy Edison's E&P business in Norway; includes assets on the Norwegian Continental Shelf. (Expected to close 1H 2021)
|S&S||1/4/21||Anvil and Smith-Cooper International||Forum Energy Technologies Inc.||$105||
Purchased the assets associated with the ABZ and Quadrant valve brands with operations located in KS and LA.
|E&P||1/4/21||Cenovus Energy Inc.||Husky Energy Inc.||CA$3,800||
Acquired Calgary, Alberta-based Husky Energy in an all-stock merger. (Completed; PSA announced October 2020)
|S&S||1/4/21||Liberty Oilfield Services Inc.||Schlumberger Ltd.; OneStim||N/A||
Purchased OneStim, Schlumberger’s North America fracking business that includes pressure pumping, pumpdown perforating, and Permian frac sand assets; in exchange, Schlumberger will receive a 37% equity interest in the combined company. (Completed; PSA announced September 2020)
|E&P||1/4/21||Undisclosed||Samson Resources II LLC||$215||
To buy Powder River Basin assets in WY consisting of about 132,000 net acres and 8,500 boe/d (75% oil) of production. (Expected to close March)
|E&P||1/5/21||Freehold Royalties Ltd.||Undisclosed||$58||
Purchased a US multibasin royalty package comprising 400,000 gross acres of mineral title and ORRI across 12 basins in eight states predominantly weighted toward areas of the Permian Basin and Eagle Ford Shale; production of 1,150 boe/d (62% liquids) is forecast for 2021. (Completed; PSA announced November 2020)
|Down||1/5/21||NRG Energy Inc.||Centrica Plc; Direct Energy LP||$3,630||
Acquired the Houston-based Direct Energy, a retail provider of electricity, natural gas and home and business energy-related services in North America. (Completed; PSA announced July 2020)
|E&P||1/7/21||Devon Energy Corp.||WPX Energy Inc.; EnCap Investments LP||$5,750||
Acquired in an all-stock combination transaction creating a multibasin company with positions across the Permian/Delaware Basin, Eagle Ford, Anadarko Basin/STACK, Powder River Basin and Williston Basin/Bakken including 400,000 net acres in the Delaware Basin accounting for nearly 60% of its total oil production; includes assumption of $3.2 billion net debt. (Completed; PSA announced September 2020)
|E&P||1/7/21||Earthstone Energy Inc.||Independence Resources Managemen LLC; Warburg Pincus LLC||$189.5||
Bought 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||1/12/21||Pioneer Natural Resources Co.||Parsley Energy Inc.||$7,600||
Acquired Permian pure-play Parsley Energy in an all-stock deal with a fixed exchange ratio of 0.1252 shares of Pioneer common stock for each share of Parsley stock owned and the assumption of $3.1 B of debt; includes 248,000 net leasehold acres in the Midland and Delaware sub-basins. (Completed; PSA announced October 2020)
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
US Emergency Oil Reserves Fall to Lowest Level in 40 Years
2023-04-17 - U.S. Strategic Petroleum Reserve feel by by nearly 1.6 MMbbl the week of April 10, Department of Energy data shows.
What's Affecting Oil Prices This Week? (April 24, 2023)
2023-04-24 - The price of Brent crude ended the week at $81.58 and the price of WTI ended the week at $77.87.
What's Affecting Oil Prices This Week? (April 10, 2023)
2023-04-10 - Prices this week aligned with Stratas' expectations that the price of Brent crude would hit resistance at $86 and WTI would hit resistance at $82.
What's Affecting Oil Prices This Week? (June 5, 2023)
2023-06-05 - Crude prices were affected by a number of international issues, including the U.S. debt limit resolution, OPEC+ production cuts and China's weak domestic demand.
What's Affecting Oil Prices This Week? (April 3, 2023)
2023-04-03 - On April 2, OPEC+ announced production cuts of 1.16 MMbbl/d beginning in May, in line with last week’s assessment that it would take unexpected good news like a production cut from OPEC+ to push the price of Brent above $80 and WTI above $75.