A&D DEAL SHEET |
|||||
---|---|---|---|---|---|
Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
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) |
Mid | 1/13/21 | New Fortress Energy Inc. | Stonepeak Infrastructure Partners Co.; Golar LNG Ltd. | $5,000 |
To buy natural gas company Hygo Energy Transition Ltd., a 50/50 JV between Stonepeak Infrastructure Partners and Golar LNG focused on LNG projects in Brazil, and Hygo's controlling company Golar LNG Partners LP. (Expected to close 1H 2021) |
E&P | 1/15/21 | ConocoPhillips Co. | Concho Resources Inc. | $13,300 |
Acquired Permian pure-play Concho Resources in an all-stock deal that swaps 1.46 shares of ConocoPhillips for each Concho share; includes a roughly 800,000 gross (550,000 net) acre position in both the Delaware and Midland sub-basins. (Completed; PSA announced October 2020) |
Renew | 1/18/21 | Total SA | Adani Green Energy Ltd. | $2,500 |
Purchased a 20% stake in India's AGEL and a 50% share in its solar power assets. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
Recommended Reading
Some Payne, But Mostly Gain for H&P in Q4 2023
2024-01-31 - Helmerich & Payne’s revenue grew internationally and in North America but declined in the Gulf of Mexico compared to the previous quarter.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
M4E Lithium Closes Funding for Brazilian Lithium Exploration
2024-03-15 - M4E’s financing package includes an equity investment, a royalty purchase and an option for a strategic offtake agreement.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
California Resources Corp. Nominates Christian Kendall to Board of Directors
2024-03-21 - California Resources Corp. has nominated Christian Kendall, former president and CEO of Denbury, to serve on its board.