A&D DEAL SHEET |
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|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| S&S | 7/5/21 | ChampionX Corp. | Scientific Aviation Inc. | N/A |
Purchased Scientific Aviation, a market leader in site-specific and regional methane emissions monitoring solutions for continuous and periodic monitoring applications based in Boulder, CO. |
| E&P | 7/5/21 | Diversified Energy Co. Plc | Blackbeard Operating LLC | $180 |
Purchased 123,000 net acres, 16,000 barrels of oil equivalent per day and 840 net wells in the Barnett Shale. (Completed; PSA announced May 2021) |
| E&P | 7/6/21 | Crowheart Energy LLC | The Williams Cos. Inc. | N/A |
Formed upstream JV consolidates three legacy upstream assets into one contiguous footprint in the Wamsutter Field of the Greater Green River Basin covering over 1.2 million net acres in WY. |
| S&S | 7/6/21 | Patterson-UTI Energy Inc. | Pioneer Energy Services Corp. | $295 |
To acquire San Antonio-based Pioneer, a contract driller with a fleet of 17 drilling rigs in the US plus eight rigs in Colombia that also provides a number of well and production services. (Expected to close 4Q 2021) |
| E&P | 7/6/21 | Percussion Petroleum LLC; Undisclosed | Oasis Petroleum Inc. | $481 |
Bought, in three separate transactions, Oasis’ Permian position consists of approximately 24,000 net acres in the core of the Delaware Basin in W TX producing about 7,200 boe/d; Percussion Petroleum was buyer of primary transaction valued at $375 MM that includes contingent payments tied to future oil prices. (Completed June 29; PSA announced May 2021) |
| E&P | 7/7/21 | i3 Energy Plc | Cenovus Energy Inc. | CA$65 |
To purchase certain petroleum and infrastructure assets within i3’s Central Alberta core area including approximately 8,400 boe/d (51% oil and NGL) of predominantly operated, conventional, low-decline production and an extensive network of complementary midstream infrastructure to support long-term sustainable operations. |
| S&S | 7/7/21 | Pickering Energy Partners | Heikkinen Energy Advisors LLC | N/A |
Acquired Houston-based Heikkinen Energy Advisors, an investment adviser providing insights across all sectors of the energy industry, through a merger forming Pickering Energy Partners Insights. |
| E&P | 7/8/21 | Contango Oil & Gas Co. | ConocoPhillips Co. | $67 |
To acquire Wind River Basin assets covering approximately 44,000 net acres in Fremont and Natrona counties, WY, and a net production run rate of approximately 78 MMcfe/d (roughly 100% gas). (Expected to close 3Q 2021) |
| E&P | 7/8/21 | Mesa Royalties II LLC | Undisclosed | N/A |
Purchased a mineral and royalty portfolio in the Haynesville Shale in N LA consisting of about 15,000 net royalty acres with 472 existing PDP wells and projected NTM asset cash flow of about $30 million. |
| E&P | 7/8/21 | WildFire Energy LLC; Kayne Anderson | Hawkwood Energy LLC | N/A |
To acquire Denver-based Hawkwood Energy, an Eagle Ford Shale operator with over 160,000 net acres in E TX primarily in Brazos and Burleson Cos. and over 375 operated wells producing more than 19,000 net boe/d (85% oil). (Expected to close 3Q 2021) |
| Mid | 7/9/21 | Kinder Morgan Inc. | Consolidated Edison Inc.; Crestwood Equity Partners LP | $1,230 |
Bought StageCoach Gas Services, a natural gas pipeline and storage JV between Consolidated and Crestwood. (Completed; PSA announced June 2021) |
| S&S | 7/9/21 | Ranger Energy Services Inc. | PerfX Wireline Services | N/A |
Purchased PerfX, a privately held Denver-based service company currently operating wireline pumpdown crews in US shale plays across OK, ND and TX, in an all-stock transaction. |
| E&P | 7/12/21 | Penn Virginia Corp. | Lonestar Resources US Inc. | $370 |
To acquire Fort Worth, TX-based Eagle Ford Shale producer Lonestar Resources in an all-stock transaction including the assumption of $236 MM of net debt. (Expected to close 2H 2021) |
| Mid | 7/13/21 | Plains All American Pipeline LP | Oryx Midstream Services LLC; Stonepeake Infrastructure Partners Co. | N/A |
To acquire Midland, TX-based Oryx Midstream through a cashless merger transaction of Oryx with a vast majority of Plains Permian Basin assets forming Plains Oryx Permian Basin, a debt-free JV. (Expected to close 4Q 2021) |
| E&P | 7/15/21 | Cardinal Energy Ltd. | Venturion Oil Ltd. | CA$47.5 |
Acquired privately held Venturion Oil, which has assets comprising about 2,400 boe/d of production (~83% oil) focused in central Alberta and other minor properties. (Completed; PSA announced June 2021) |
| E&P | 7/15/21 | Tourmaline Oil Corp. | Black Swan Energy Ltd. | CA$1,100 |
Purchased privately owned Montney operator Black Swan Energy, adding 230,000 net acres of Montney rights and over 50,000 boe/d of production. (Completed; PSA announced June 2021) |
| Mid | 7/16/21 | Kinder Morgan Inc. | Kinetrex Energy | $310 |
To purchase the Indianapolis-based leading supplier of LNG in the Midwest and a rapidly growing player in producing and supplying renewable natural gas. (Expected to close 3Q 2021) |
| E&P | 7/19/21 | PrairieSky Royalty Ltd. | Spur Petroleum Ltd. | CA$155 |
Purchased a 5% gross ORRI on over 76,000 acres in the Clearwater play in the core Marten Hills area with approximately 500 boe/d (96% oil) of current royalty production. |
| E&P | 7/20/21 | Earthstone Energy Inc. | Tracker Resource Development LLC; Sequel Energy Group LLC; EnCap Investments LP | $126.5 |
Acquired privately held operated assets located in the Midland Basin comprising about 20,300 net acres (100% HBP, 100% operated) in Irion County, TX, 7,800 boe/d (21% oil / 59% liquids) current net production from 71 wells (30 horizontal / 41 vertical), an inventory of 49 Earthstone-identified horizontal Wolfcamp locations and a $153 MM PDP PV-10 with reserves of approximately 19.8 MMboe. (Completed; PSA announced April 2021) |
| E&P | 7/21/21 | Undisclosed | Whiting Petroleum Corp. | $187 |
To buy Whiting’s entire D-J Basin position, including midstream assets, located in Weld County, CO; includes 67,278 net acres with daily production of approximately 7,100 boe/d (51% oil). (Expected to close 3Q 2021) |
| E&P | 7/21/21 | Whiting Petroleum Corp. | Undisclosed | $271 |
To acquire 8,752 net acres in Mountrail County, ND, adjacent to existing operations in the Sanish Field within the Williston Basin, with net daily production of approximately 4,200 boe/d (80% oil). (Expected to close 3Q 2021) |
| E&P | 7/22/21 | Undisclosed | MEG Energy Corp. | CA$44 |
Purchased industrial lands near Edmonton, Alberta, considered noncore too MEG, in a cash transaction. |
| S&S | 7/23/21 | Cathedral Energy Services Ltd. | Precision Drilling Corp. | CA$6.4 |
Bought Precision’s directional drilling business comprising operating assets and personnel such as an operations facility in Nisku, Alberta; includes strategic marketing alliance expected to produce new US and Canadian customer opportunities. |
| E&P | 7/26/21 | Lime Rock Resources LP | Undisclosed | $508.3 |
To buy oil and gas properties in the Delaware Basin located primarily in Loving County, TX, producing 15,163 boe/d as of the April 1 transaction effective date. (Expected to close Sept. 30) |
| Renew | 7/27/21 | Shell New Energies US LLC; Royal Dutch Shell Plc | Inspire Energy Capital LLC | N/A |
To buy US-based renewable energy residential retailer currently serving approximately 235,000 residential customers in DE, IL, MA, MD, NJ, NY, OH, PA and Washington DC. (Expected to close 4Q 2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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