A&D DEAL SHEET
|Sector||Date Announced||Buyer||Seller||Value (US$MM)||Comments|
|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.
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.
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.
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.
|Renew||3/31/2023||Shell USA Inc.||Volta Inc.||$169||
Acquired network of more than 3,000 charging locations in 31 U.S. states and territories.
|E&P||3/30/2023||IOG Resources II||N/A||N/A||
Acquired Appalachia assets, including 66 producing wellbores on 7,000 net acres with production of 24 MMcfe/d.
|Renew||3/28/2023||Brookfield Renewable Partners; GIC; Temasek; EIG; MidOcean Energy||MidOcean Energy||$10,300||
To acquire Origin Energy, Australia’s largest integrated power generator.
|E&P||3/28/2023||Crescent Point Energy Corp.||Spartan Delta Corp.||$1,280||
To acquire Montney oil and liquids assets with average production of 38,000 barrels of oil equivalent per day (boe/d), 55% liquids, and drilling inventory of 600 net locations.
|MID||3/27/2023||Energy Transfer LP||Lotus Midstream LLC; EnCap Flatrock Midstream||$1,450||
To acquire Lotus' system consisting of approximately 3,000 active miles of pipeline that serves major production areas of the Permian with nearly 1.5 MMbbl/d of capacity.
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.
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
Molecular Transformation: Exxon Mobil Tackles the Energy Transition
2023-05-01 - CEO Darren Woods discusses Exxon Mobil’s expansion plans in the Lower 48 and managing the energy transition in Hart Energy’s The OGInterview.
Targa, EnLink, ONEOK Building Out in a Hurry
2023-03-17 - With natural gas flows on track to rise, Targa, EnLink and ONEOK are racing to keep up.
Sabine’s Looking for Acres: ‘If You Have Any Ideas,’ Get in Touch, CEO Says
2023-04-04 - The pureplay operator Sabine Oil and Gas is in the market to buy—preferably to add to its East Texas portfolio — but is also open to gassy assets in the Eagle Ford, Oklahoman Woodford and Utica.