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
High Interest Rates a Headwind for the Energy Transition
2024-04-18 - Persistent high interest rates will make transitioning to a net zero global economy much harder and more costly, according to Wood Mackenzie Head of Economics Peter Martin.
Scotland Ditches 2030 Climate Target to Cut Emissions by 75%
2024-04-18 - Scotland was constrained by cuts to the capital funding it receives from the British government and an overall weakening of climate ambition by British Prime Minister Rishi Sunak, said Mairi McAllan, the net zero secretary for Scotland's devolved government.
Exclusive: Mitsubishi Power Plans Hydrogen for the Long Haul
2024-04-17 - Mitsubishi Power is looking at a "realistic timeline" as the company scales projects centered around the "versatile molecule," Kai Guo, the vice president of hydrogen infrastructure development for Mitsubishi Power, told Hart Energy's Jordan Blum at CERAWeek by S&P Global.
Google Exec: More Collaboration Needed for Clean Power
2024-04-17 - Tech giant Google has partnered with its peers and several renewable energy companies, including startups, to ramp up the presence of renewables on the grid.