A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| 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 | 5/5/22 | Sentinel Peak Resources LLC | Seneca Resources Co. LLC; National Fuel Gas Co. | $310 |
To buy CA oil assets producing about 40 MMcfe/d of which 92% is oil; consideration includes $280 MM in cash at closing and up to three annual contingent payments potentially totaling $30 MM from 2023 to 2025. (Expected to close June 30) |
| 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. |
| Mid | 5/11/22 | JP Morgan Infrastructure Investments Fund (IIF) | ArcLight Capital Partners LLC; Enstor Gas LLC | N/A |
Purchased ArcLight affiliate Enstor Gas, the largest privately owned gas storage company in the US including six active underground natural gas storage facilities with more than 110 Bcf in working gas capacity. |
| 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) |
| Renew | 5/12/22 | JERA Americas | Stonepeak Infrastructure Partners Co. | N/A |
To buy all stakes in two thermal power stations in the US with a total capacity of 1.63 GW; includes Canal thermal power station in MA and the Bucksport thermal power station in ME. |
| Mid | 5/16/22 | Diamondback Energy Inc. | Rattler Midstream LP | $575.2 |
To purchase to acquire all of the publicly held common units representing the LP interests in Rattler not already owned by Diamondback and its subsidiaries in exchange for 0.113 of a share of common stock in Diamondback. (Expected to close 3Q 2022) |
| S&S | 5/16/22 | Diversified Energy Co. Plc | Nick’s Well Plugging LLC | N/A |
Purchased OH-based NWP, a well-established plugging service provider with a combined 50-plus years of oil and gas experience, including plugging oil and gas wells across Appalachia. |
| E&P | 5/16/22 | Granite Ridge Resources Inc.; Executive Network Parntering Corp. (ENPC) | Grey Rock Investment Partners | $1,300 |
To acquire oil and gas assets in the Permian Basin, Bakken, Eagle Ford Shale, D-J Basin and Haynesville Shale plays to form Granite Ridge Resources through a business combination. |
| S&S | 5/17/22 | Helix Energy Solutions Group Inc. | Alliance Energy Group | $120 |
To acquire 100% of the equity interests of the Alliance group of companies in the US Gulf of Mexico for $120 MM of cash at closing, plus the potential for post-closing earnout consideration payable in 2024. (Expected to close mid-2022) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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