A&D DEAL SHEET |
|||||
| Sector | Date Announced | Buyer | Seller | Value (US$MM) | Comments |
| Renew | 5/10/2023 | Montrose Environmental Group Inc. | GreenPath Energy Ltd. | N/A |
Acquired GreenPath, a provider of methane emissions detection, measurement and mitigation solutions for oil and gas companies. |
| E&P | 5/8/2023 | Permian Resources Corp. | N/A | $200 |
Acquired 4,000 net acres, 3,300 net royalty acres and average net production of 1,100 boe/d. |
| MID | 5/4/2023 | HF Sinclair Corp. | Holly Energy Partners LP | $2,000 |
Submitted a non-binding proposal to acquire MLP Holly Energy in an all-equity transaction. |
| E&P | 5/3/2023 | Callon Petroleum Co. | Percussion Petroleum Operating II LLC | $475 |
To acquire Delaware assets, including approximately 18,000 net acres in Ward, Winkler and Loving counties, Texas, and approximately 70 high-return well locations. |
| E&P | 5/3/2023 | Ridgemar Energy Operating LLC; Carnelian Energy Capital Management LP | Callon Petroleum Co. | $655 |
To divest Eagle Ford assets of approximately 52,000 net acres with average production of 16,300 boe/d, 71% oil. |
| MID | 5/1/2023 | Sunoco LP | Zenith Energy | $110 |
Acquired 16 refined product terminals across the East Coast and Midwest. |
| E&P | 5/1/2023 | N/A | Diamondback Energy | $439 |
Divested Texas assets including 19,000 net acres in Glasscock County and about 4,900 acres in Ward and Winkler counties. |
| E&P | 5/2/2023 | Crescent Energy Co. | Mesquite Energy Inc. | $600 |
To acquire 75,000 contiguous net acres in the Eagle Ford, primarily in Dimmit and Webb counties, Texas. |
| MID | 5/2/2023 | Enbridge Inc. | Crestwood Equity Partners LP; Brookfield Infrastructure Partners | $335 |
Acquired the Tres Palacios gas storage facility in Matagorda County, Texas. |
| E&P | 5/1/2023 | N/A | Diamondback Energy | $438 |
Sold 23,900 acres in Ward, Winkler and Glasscock counties, Texas. |
| MID | 5/1/2023 | Enbridge Inc. | FortisBC Holdings Inc.; ForistBC Midstream Inc. | $295 |
To acquire two natural gas storage facilities collectively known as the Aitken Creek Storage facilites for CA$400 million. |
| E&P | 5/1/2023 | Trio Petroleum Corp. | N/A | N/A |
Increased Trio’s leasehold by approximately 8%, from 8,600 acres to 9,267 acres. |
| E&P | 4/27/2023 | U.S. Energy Development Corp. | Midland Petro D.C. Partners LLC | $225 |
Acquired a 25% working interest in the Mascot Project, a stacked pay asset in core Midland Basin. |
| E&P | 4/27/2023 | Suncor Energy | TotalEnergies EP Canada Ltd. | $4,100 |
To acquire all shares of TotalEnergies’ Canadian operations, TotalEnergies EP Canada Ltd., for about CA$5.5 billion. |
| E&P | 4/27/2023 | Antero Resources | N/A | $72 |
Acquired 12,000 net acres and more than 50 equivalent incremental drilling locations at an average cost of $1 million per location. |
| E&P | 4/26/2023 | Elk Range Royalties; NGP | Undisclosed | N/A |
Acquired assets include roughly 1,700 net royalty acres (NRA) across DeWitt, Gonzales and Karnes counties, Texas. |
| MID | 4/14/2023 | Canadian Pacific | Kansas City Southern | $31,000 |
Closed a December 2021 acquisition that creates a crude-by-rail network stretching across Canada, the U.S. and Mexico. |
| E&P | 4/13/2023 | Matador Resources Co. | Advance Energy Partners; EnCap Investments LP | $1,600 |
Purchased Advance Energy's Delaware Basin assets, including 18,500 net acres in Lea County, NM, and Ward County, TX. |
| E&P | 4/13/2023 | Tellurian Inc. | N/A | $1,000 |
Tellurian entered into a binding letter of intent to sell 800 acres for its LNG terminal that will be leased back to the company. |
| E&P | 4/12/2023 | Kimbell Royalty Partners LP | MB Minerals; Sabalo Holdings LLC | $143.10 |
To purchase Midland Basin mineral and royalty acreage producing 1,459 bbl/d of crude from more than 300 producing wells. |
| Renew | 4/11/2023 | Dominion Energy | Longroad Energy | N/A |
To buy Longroad Energy's 108 megawatt Foxhound solar project in Virginia |
| E&P | 4/4/2023 | Tailwater E&P LLC; Tailwater Capital | N/A | N/A |
To acquire royalty and mineral interests on 1,877 net acres in the Eagle Ford, Haynesville and Permian Basin. |
| S&S | 4/03/2023 | Liberty Energy Inc. | Siren Energy | $78 |
Acquired Siren's integrated natural gas compression and CNG delivery business focused on the Permian Basin. |
| E&P | 4/3/2023 | Vital Energy Inc. | Driftwood Energy Operating LLC | $214 |
Acquired Midland Basin leasehold in Upton and Reagan counties, Texas, including 11,200 net acres that averaged 5,400 boe/d (63% oil). |
| MID | 3/31/2023 | South 49 Holdings Ltd.; Midstream Energy Partners | USD Partners LP | $33 |
Acquired Casper, Wyoming, crude rail terminal. |
| E&P | 4/5/2023 | Riley Exploration Permian Inc. | Pecos Oil & Gas LLC; Cibolo Energy Partners LLC | $330 |
Acquired 11,700 contiguous net acres in Eddy County, New Mexico, and production of 4,200 bbl/d (7,200 boe/d). |
| E&P | 4/3/2023 | Ovintiv Inc. | Black Swan Oil & Gas; PetroLegacy Energy; Piedra Resources; EnCap Investments LP | $4,275 |
To acquire 65,000 net acres in the core of the Midland Basin; 1,060 net locations; and 60,000 bbl/d of oil and condensate. |
| E&P | 4/3/2023 | Grayson Mill Bakken LLC; EnCap Investments LP | Ovintiv Inc. | $825 |
To sell Ovintiv's Bakken position, including 46,000 net acres and average production of 37,000 boe/d |
| E&P | 4/3/2023 | Ovintiv Inc. | To acquire various bolt-on acquisitions. | $200 |
Acquired acreage in various bolt-on acquisitions. |
Recommended Reading
Matador Resources Prioritizes Reducing Debt After $1.6B Acquisition
2023-04-27 - Matador expects a boost in production from its $1.6 billion Permian Basin acquisition and touts new “horseshoe” wells as first-quarter results came in above expectations
California E&P Trio Petroleum Launches IPO
2023-04-18 - California-based Trio Petroleum has launched an IPO on the New York Stock Exchange American with expectations of raising $6 million in gross proceeds.
Equinor ASA Reports Higher Appalachia and GoM Production
2023-05-09 - Equinor ASA’s E&P unit in the U.S. reported a 5% rise in production in the first quarter of 2023 compared to the same quarter a year ago thanks to higher volumes from the Gulf of Mexico and Appalachian Basin.
High Demand Equals Higher Midstream Q1 Earnings
2023-05-17 - Midstream is focused on buying, building and growing in all ways, but in the meantime, first-quarter earnings are good.
Equinor Inks SURF, FPSO Contracts for $9B Brazil Project
2023-05-11 - The BM-C-33 project, offshore Brazil, is in 2,900 m water depth — the deepest installation in Equinor’s history.