A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 3/8/21 | HitecVision AS | Kerogen Capital | $625 |
Bought Zennor Petroleum, which holds stakes in the British North Sea in the Mungo & Monan, Britannia, Bacchus and Cormorant East producing fields and a 100% operated interest in the Finlaggan development project. |
| E&P | 3/9/21 | Cairn Energy Plc; Cheiron Petroleum Corp. | Royal Dutch Shell Plc | $926 |
To buy upstream assets in Egypt’s Western Desert that includes Shell Egypt’s stake in 13 onshore concessions and its share in the Badr El-Din Petroleum Co. (BAPETCO); base price of $646 MM with additional payments of up to $280 MM subject to oil price and exploration results. (Expected to close 2H 2021) |
| E&P | 3/9/21 | Prime International Oil & Gas Co. | Eni SpA | N/A |
To buy Pakistan oil and gas assets including eight development and production leases in the Kithar Fold Belt and the Middle Indus Basins and four exploration licenses in the Middle Insud and the Indus Offshore basins. |
| Mid | 3/9/21 | Secure Energy Services Inc. | Tervita Corp. | CA$478 |
To buy Calgary, Alberta-based waste management services firm in an all-stock deal. |
| E&P | 3/9/21 | Waldorf Production Ltd. | Cairn Energy Plc | $585 |
To purchase interests in the Catcher and Kraken fields in the UK North Sea; consideration includes up to $125 MM subject to oil price. (Expected to close 2H 2021) |
| E&P | 3/10/21 | Enerplus Corp. | Bruin E&P Partners LLC; ArcLight Capital Partners LLC | $465 |
Acquired 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. (Completed; PSA announced January 2021) |
| S&S | 3/11/21 | Frank's International NV | Expro Group | N/A |
To acquire the UK-based service company in an all-stock deal; combined company will assume the Expro Group name but also retain the Frank’s International brand name for its well construction solutions. (Expected to close 3Q 2021) |
| E&P | 3/18/21 | Ineos E&P AS | Hess Corp. | $150 |
To purchase Hess Denmark ApS, which holds a 61.5% interest in the South Arne Field offshore in the Danish North Sea; Production net to Hess averaged 5,800 boe/d in 4Q 2020. (Expected to close 3Q 2021) |
| S&S | 3/22/21 | Argonaut Private Equity; American Well Services | Pioneer Natural Resources Co. | N/A |
Acquired Pioneer Well Services, a subsidiary of Pioneer Natural Resources that provides well service rigs for workover or completions operations and wellsite support services in the Permian Basin, which will now d/b/a American Well Services in partnership with Nichols Oil Tools. |
| Renew | 3/22/21 | Eni SpA | FRI-EL Greenpower SpA | N/A |
To buy biogas producer FRI-EL Biogas Holding, which owns 21 plants generating electricity from biogas and a plant for processing OFMSW in Italy. |
| Mid | 3/22/21 | Oasis Midstream Partners LP | Oasis Petroleum Inc. | $510 |
To purchase Oasis' remaining interests in Bobcat DevCo LLC and Beartooth DevCo LLC plus eliminate IDRs from its capital structure in exchange for $229 MM in cash and 14.8 million OMP common units. (Expected to close March 2021) |
| E&P | 3/23/21 | LOLA Energy LLC; LOLA Energy III LLC | Undisclosed | N/A |
Acquired 100% of equity membership interests of an E&P company with operations in Butler County, PA, rebranded as LOLA Energy PetroCo LLC; roughly 22,000 net mineral acres of oil and gas leases in the NGL-rich window of the Marcellus and Burkett shale within the Appalachian Basin. |
| E&P | 3/24/21 | Aker BP ASA | Eni SpA | N/A |
Purchased a 50% stake in a UK North Sea license, known as P2511 and located on the maritime border between Norway and Britain; Eni will remain the operator. |
| Mid | 3/24/21 | Tall Oak Midstream LLC; Tailwater Capital LLC | Canyon Midstream Partners LLC | N/A |
Purchased Redcliff Midstream, a provider of gas gathering, treating and processing services throughout the northern region of the STACK play; includes more than 200 miles of gathering pipeline, a network of field compression stations and cryogenic gas processing plant across Woodward, Dewey, Blaine and Canadian counties, OK. |
| E&P | 3/24/21 | Validus Energy | Ovintiv Inc. | $880 |
Purchased Redcliff Midstream, a provider of gas gathering, treating and processing services throughout the northern region of the STACK play; includes more than 200 miles of gathering pipeline, a network of field compression stations and cryogenic gas processing plant across Woodward, Dewey, Blaine and Canadian counties, OK. |
| S&S | 3/25/21 | Noble Corp. | Pacific Drilling Co. LLC | N/A |
To acquire Houston-based Pacific Drilling in an all-stock transaction giving Pacific Drilling shareholders roughly 25% equity ownership of the pro-forma company. (Expected to close April) |
| E&P | 3/25/21 | PGNiG SA | INEOS Groupo Ltd. | $615 |
To buy INEOS E&P Norge AS, which includes all of INEOS’ oil and gas interests in production, licenses, fields, facilities and pipelines, on the Norwegian Continental Shelf. |
| E&P | 3/29/21 | Denbury Inc. | Devon Energy Corp. | $20 |
Bought 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. (Closed March 3; PSA announced December 2020) |
| Renew | 3/31/21 | Enverus | Energy Acuity | N/A |
Acquired Denver-based provider of information and intelligence on renewable power and clean energy markets with a product suite that includes comprehensive and high-quality datasets covering power generation and grid infrastructure. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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