A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Mid | 4/4/22 | ARM Energy Holdings LLC | NextEra Energy Partners LP | $203 |
Bought Monument Pipeline LP, a Houston-based natural gas transportation system with approximately 156 miles of pipeline originating at the Katy Hub, with connections to the Houston Ship Channel, La Porte and League City market areas plus servicing several residential city gates of the Greater Houston metroplex. |
| E&P | 4/4/22 | Evolution Petroleum Corp. | Exaro Energy III LLC | $26.2 |
Acquired nonoperated natural gas assets in the Jonah Field in Sublette County, WY; includes working interest in 648 producing wells and approximately 1,040 net acres producing about 14.2 MMcfe/d. (Completed; PSA announced February 2022) |
| E&P | 4/5/22 | W&T Offshore Inc. | Undisclosed | N/A |
Purchased the remaining working interests in three federal shallow-water fields (Ship Shoal 230, South Marsh Island 27/Vermilion 191 & South Marsh Island 73) within the central region of the US GoM the W&T had initially acquired an interest in early 2022. |
| E&P | 4/7/22 | Ithaca Energy Ltd.; Delek Group Ltd. | Siccar Point Energy E&P Ltd. | N/A |
To buy private equity-backed Siccar Point Energy, which holds stakes in two large oil fields in the UK North Sea. (Expected to close 2Q 2022) |
| Mid | 4/11/22 | Dow Inc. | Fluxys; Partners Group; Buss Group | N/A |
Bought a minority stake in a consortium constructing an LNG import terminal in Germany known as the Hanseatic Energy Hub GmbH. |
| Mid | 4/11/22 | Delek Logistics Partners LP | 3Bear Energy LLC | $624.7 |
To acquire 100% membership interests in 3Bear Delaware Holding - NM LLC, an indirect subsidiary that holds crude oil and gas gathering, processing and transportation businesses, as well as water disposal and recycling operations in the Delaware Basin in NM within the Permian Basin. (Expected to close mid-year 2022) |
| E&P | 4/14/22 | Earthstone Energy Inc. | Bighorn Permian Resources LLC | $860 |
Acquired privately held Bighorn, which has approximately 110,600 net acres (98% operated, 93% working interest, 99% HBP) in the Midland Basin, primarily in Reagan and Irion counties, TX, and average production of 42,400 boe/d (25% oil, 57% liquids). (Completed; PSA announced January 2022) |
| E&P | 4/14/22 | SilverBow Resources Inc. | SandPoint Operating LLC; Carnelian Energy Capital Management LP | $71 |
To buy 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). (Expected to close 2Q 2022) |
| E&P | 4/14/22 | SilverBow Resources Inc. | Sundance Energy Inc. | $354 |
To acquire Sundance in a cash and stock transaction that includes up to an additional $15 million dollars of contingent payments based on future commodity prices; assets comprise 39,000 net acres in Atascosa, La Salle, McMullen & Live Oak Cos., TX of highly contiguous Eagle Ford acreage and net production of 11,100 boe/d (84% liquids / 65% oil). (Expected to close 3Q 2022) |
| 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) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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