Also, Kinder Morgan sold its entire equity stake in Calgary, Alberta-based Pembina Pipeline for about $764 million. (Source: Shutterstock.com)
A&D DEAL SHEET
|
|||||
|
Sector |
Date |
Buyer |
Seller |
Value |
Comments |
|
E&P |
1/7/20 |
Cona Resources Ltd.; Waterous Energy Fund |
Pengrowth Energy Corp. |
C$740 |
Purchased Calgary, Alberta-based oil and gas producer with long-life assets in the Western Canadian Sedimentary Basin; includes assumption of debt. (Completed; PSA announced November 2019) |
|
E&P |
1/7/20 |
Premier Oil Plc |
BP Plc |
$625 |
To buy interests in the Andrew area in the central UK North Sea and its nonoperating interest in the Shearwater Field. (Expected to close 3Q 2020) |
|
E&P |
1/7/20 |
Premier Oil Plc |
Dana Petroleum Ltd. |
$246 |
To purchase additional interests increasing its stake in the Tulmount UK North Sea gas project to 25%; includes up to $55 MM contingent payments. (Expected to close 3Q 2020) |
|
E&P |
1/7/20 |
Revolution Resources LLC; Mountain Capital Partners LP |
Jones Energy Inc. |
$201.5 |
Acquired Austin, TX-based Jones Energy, which has assets in the Anadarko Basin in OK and TX. (Completed; PSA announced December 2019) |
|
E&P |
1/9/20 |
Kimbell Royalty Partners LP |
Springbok Energy Partners LLC; Natural Gas Partners (NGP) |
$175 |
To acquire the mineral and royalty interests held by NGP-backed Springbok and its affiliates, adding interests in the Permian's Delaware Basin, Eagle Ford Shale, Bakken, Haynesville, Stack Play and D-J Basin; consideration comprised of $95 MM cash and Kimbell stock. (Expected to close 2Q 2020) |
|
Mid |
1/9/20 |
Undisclosed |
Kinder Morgan Inc. |
$764 |
Purchased Kinder Morgan's roughly 5% equity stake in Calgary, Alberta-based Pembina Pipeline comprised of roughly 25 MM Pembina shares. |
|
E&P |
1/10/20 |
Parsley Energy Inc. |
Jagged Peak Energy Inc. |
$2,300 |
Acquired Denver-based Jagged Peak, a Southern Delaware Basin operator with about 78,000 net acres in Winkler, Ward, Reeves & Pecos Cos., TX and 2Q 2019 production of about 38,300 boe/d (76% oil); all-stock transaction includes assumption of $625 MM debt. (Completed; PSA announced October 2019) |
|
S&S |
1/13/20 |
Stress Engineering Services Inc. |
Laserstream LP |
N/A |
Bought Laserstream, a Houston-based technical service company specializing in laser mapping of tubular assets. |
|
E&P |
1/14/20 |
PDC Energy Inc. |
SRC Energy Inc. |
$1,700 |
Acquired Denver-based SRC Energy, which holds roughly 86,000 net acres in the D-J Basin's Wattenberg Field, nearly 100% of which is located in Weld County, CO, through all-stock transaction; includes assumption of about $685 MM in net debt. (Completed; PSA announced August 2019) |
|
Source: HartEnergy.com |
|||||
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
Recommended Reading
TPG Adds Lebovitz as Head of Infrastructure for Climate Investing Platform
2024-02-07 - TPG Rise Climate was launched in 2021 to make investments across asset classes in climate solutions globally.
Air Products Sees $15B Hydrogen, Energy Transition Project Backlog
2024-02-07 - Pennsylvania-headquartered Air Products has eight hydrogen projects underway and is targeting an IRR of more than 10%.
NGL Growth Leads Enterprise Product Partners to Strong Fourth Quarter
2024-02-02 - Enterprise Product Partners executives are still waiting to receive final federal approval to go ahead with the company’s Sea Port Terminal Project.
Sherrill to Lead HEP’s Low Carbon Solutions Division
2024-02-06 - Richard Sherill will serve as president of Howard Energy Partners’ low carbon solutions division, while also serving on Talos Energy’s board.
Magnolia Appoints David Khani to Board
2024-02-08 - David Khani’s appointment to Magnolia Oil & Gas’ board as an independent director brings the board’s size to eight members.