A&D DEAL SHEET |
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|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 4/19/22 | PHX Minerals Inc. | Undisclosed | $5.1 |
To purchase approximately 506 net royalty acres within the Haynesville Shale primarily located in Caddo Parish with estimated reserves of 4.1 Bcfe; includes 28 PDP gross wells, 35 gross wells in progress and an estimated 79 gross undrilled locations. (Expected to close May 27) |
| E&P | 4/21/22 | Tamarack Valley Energy Ltd. | Rolling Hills Energy Ltd. | CA$93 |
Acquired Rollings Hills Energy, a rivately held pure play Clearwater oil producer with 70 (54 net) future development drilling locations across 34,560 net acres and forecasted production of about 2,100 boe/d. |
| Mid | 4/21/22 | Targa Resources Corp. | Southcross Energy Operating LLC | $200 |
Acquired Southcross Energy Operating LLC and its subsidiaries in S TX spanning 24 counties in the Eagle Ford Shale and upper Gulf Coast area. (Completed; PSA announced March 2022) |
| S&S | 4/22/22 | Tidewater Inc. | Swire Pacific Offshore Holdings Ltd. | $190 |
Acquired all of the outstanding shares of Swire Pacific Offshore, a subsidiary of Swire Pacific Ltd., creating industry’s largest fleet of OSVs. (Completed; PSA announced March 2022) |
| E&P | 4/25/22 | PHX Minerals Inc. | Undisclosed | $4.3 |
To acquire approximately 477 net royalty acres located in three contiguous sections operated by Chesapeake Energy that includes three PDP gross wells, two gross DUCs and an additional estimated 10 gross undrilled locations targeting the Haynesville Shale in Caddo Parish, LA. (Expected to close May 13) |
| E&P | 4/26/22 | Diversified Energy Co. Plc; Oaktree Capital Management LP | Undisclosed | $50 |
To buy certain East Texas upstream assets and related facilities including includes 691 gross (346 net) operated PDP wells with current 100% natural gas production of 3,700 boe/d, or 22 MMcfe/d, and an estimated engineered next 12-month PDP decline rate of roughly 7%. |
| E&P | 4/22/22 | HighPeak Energy Inc. | Hannathon Petroleum LLC | $373.4 |
To acquire the Howard County, TX, assets of Hannathon Petroleum LLC and other nonoperated working interest owners in the Permian Midland Basin largely contiguous to HighPeak’s existing Signal Peak position; consideration comprised of $255 MM in cash and 3.78 MM shares of HighPeak common stock. (Expected to close 3Q 2022) |
| Renewable | 4/27/22 | TotalEnergies SE | Core Solar LLC | N/A |
Purchased Austin, TX-based Core Solar, whose portfolio includes more than 4 GW of utility-scale solar and energy storage projects at various stages of development across several U.S. states and power markets. |
| E&P | 4/29/22 | EverWind Fuels LLC | NuStar Energy LP | $60 |
Purchased a 7.8 million-barrel storage terminal is located at Point Tupper on the Strait of Canso, near Port Hawkesbury, Nova Scotia. (Completed; PSA announced February 2022) |
| Renew | 4/29/22 | Shell Plc | Sprng Energy | $1,550 |
Bought India-based renewable power platform Sprng Energy backed by UK-based investor Actis. |
| Renew | 5/3/22 | Chevron Corp. | Talos Energy Inc.; Carbonvert Inc. | N/A |
To acquire stake through an expanded JV to develop the Bayou Bend CCS offshore carbon capture and sequestration hub near Beaumont and Port Arthur, TX; equity interests in the JV would be 25% Talos (operator), 25% Carbonvert and 50% Chevron. |
| E&P | 5/3/22 | Romgaz | Exxon Mobil Corp. | $1,000 |
To acquire the Romanian upstream affiliate, ExxonMobil Exploration and Production Romania, along with interest in the XIX Neptun Block offshore Romania. (Expected to close 2Q 2022) |
| E&P | 5/3/22 | Ranger Oil Corp. | Undisclosed | $64 |
To purchase through three separate transactions approximately 17,000 net acres of oil producing properties in the Eagle Ford Shale contiguous to Ranger’s existing assets in Gonzales & Fayette Cos., TX. (Expected to close 3Q 2022) |
| Renew | 5/5/22 | Archaea Energy Inc. | Republic Services Inc. | $1,100 |
Formed JV to develop 39 RNG projects across the US; Archaea Energy will develop, engineer, construct and operate the RNG facilities, which will be located at Republic Services’ landfills in 19 states. |
| E&P | 5/5/22 | Rising Phoenix Royalties | Undisclosed | N/A |
Purchased an ORRI in the SCOOP/Woodford Basin located in McClain County, OK, operated by EOG Resources. |
| E&P | 5/6/22 | PDC Energy Inc. | Great Western Petroleum LLC | $1,300 |
Acquired the privately held D-J Basin operator owned by affiliates of EIG, TPG Energy Solutions LP and The Broe Group; includes 54,000 net acres in the Wattenberg primarily in Adams County, CO, about 55,000 boe/d (42% oil / 67% liquids) of PDP and 315 operated locations. (Completed; PSA announced February 2022) |
| S&S | 5/10/22 | Thomson Reuters | Altira Group LLC; ThoughtTrace Inc. | N/A |
Agreed to acquire Houston-based ThoughtTrace and its proprietary AI-based software platform serving the financial services, technology, health care, energy and law sectors. |
| E&P | 5/11/22 | SilverBow Resources Inc. | SandPoint Resources LLC; Carnelian Energy Capital Management LP | $71 |
Bought SandPoint, which operates roughly 27,000 net contiguous acres in La Salle & McMullen Cos., TX, targeting the Eagle Ford and Olmos formations with production of 4,650 boe/d (70% gas, 30% liquids). (Completed; PSA announced April 2022) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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