Source: HartEnergy.com

A&D DEAL SHEET

Sector  Date
Announced
 Buyer  Seller  Value
(US$MM)
 Comments
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.

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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)

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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.

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E&P 1/20/21 Undisclosed Equinor ASA $14.2

Purchased 100 million shares, representing an 18.8% stake in Canadian oil sands firm Athabasca Oil.

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E&P 1/21/21 Contango Oil & Gas Co. Mid-Con Energy Partners LP N/A

Bought Tulsa, OK-based Mid-Con Energy in an all-stock merger; includes conventional assets in OK and WY. (Completed; PSA announced October 2020)

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E&P 1/25/21 Enerplus Corp. Bruin E&P Partners LLC; ArcLight Capital Partners LLC $465

To acquire all of the shares of Bruin E&P HoldCo, which holds 151,000 net acres in the Williston Basin, all located within ND, with current production of about 24,000 boe/d, 84.1 MMboe of proved plus probable reserves and an inventory of 149 gross (111 net) drilling locations. (Expected to close March)

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Renew 1/25/21 Royal Dutch Shell Plc Ubitricity N/A

To buy European provider of on-street charging for EV, which operates largest public EV charging network in the UK.

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For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.