A&D DEAL SHEET |
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|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| 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) |
| E&P | 12/28/20 | Rosneft | Taimyrneftegaz | N/A |
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.
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