In addition to the sale of the Bakken assets it acquired in its merger with QEP, Diamondback also announced the $84 million sale of “noncore” Permian Basin assets. (Source: Hart Energy / Shutterstock.com)
A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Renew | 4/19/21 | NextEra Energy Partners LP | Brookfield Renewable LP | $733 |
To acquire portfolio comprised of four operating wind assets facilities, totaling 391 MW, in CA and NH. (Expected to close 3Q 2021) |
| E&P | 4/19/21 | Stateline Operating LLC; Vortus Investment Advisors LLC | Flat Creek Resources LLC | N/A |
Formed JV named Stateline Operating to initially focus on the development oil-rich assets in the Delaware Basin in Eddy County, NM. |
| Renew | 4/19/21 | Vitol | BlackRock Inc. | N/A |
Acquired Big Sky Wind, a 240 MW operating wind farm located in in the PJM territory in Bureau and Lee counties, IL. |
| E&P | 4/22/21 | SandRidge Energy Inc. | SandRidge Mississippian Trust I | $4.85 |
Purchased all the ORRI assets of the SDT Trust, which owns royalty interests in oil and natural gas properties in the Mississippian formation in Alfalfa, Garfield, Grant and Woods counties, OK. |
| E&P | 4/23/21 | EOG Resources Inc. | Melbana Energy Ltd. | $22.5 |
To acquire 100% interest in the WA-488-P permit containing the giant Beehive oil prospect in the Petrel sub-basin off the northern coast of Australia; includes $15 MM in contingent and production-linked payments. |
| Mid | 4/23/21 | Six One Commodities Global LLC; Pinnacle Asset Management LP; Vega Energy Partners Ltd. | AltaGas Ltd. | CA$344 |
Bought AltaGas’ US transportation and storage business; included a number of natural gas transportation and storage contracts, including approximately 31 Bcf of leased and managed storage capacity. |
| Mid | 4/26/21 | Six One Commodities Global LLC; Pinnacle Asset Management LP | Vega Energy Partners Ltd.; WGL Midstream Inc. | N/A |
Purchased Houston-based energy merchant Vega Energy Partners and WGL Midstream, a subsidiary of AltaGas whose assets comprised of natural gas pipelines and storage facilities in the Midwest and Eastern US are managed by Vega. |
| E&P | 4/27/21 | Grayson Mill Energy LLC; EnCap Investments LP | Equinor ASA | $900 |
Acquired Equinor’s interests in the Bakken field; includes operated and nonoperated acreage, totaling 242,000 net acres, and associated midstream assets in North Dakota and Montana with production of 48,000 boe/ (net of royalty interests) for 4Q 2020. (Completed; PSA announced February 2021) |
| S&S | 4/27/21 | Undisclosed | Basic Energy Services Inc. | $8.3 |
To buy certain noncore assets of Basic Energy Services, including heavy-duty trucks, light-duty vehicles, fracturing tanks and certain noncore saltwater disposal wells. |
| E&P | 4/28/21 | Distinction Energy Corp. | Ovintiv Inc. | $236 |
Acquired Ovintiv’s Duvernay asset in Alberta including production averaged approximately 10,000 boe/d (43% liquids) in 4Q 2020; transaction consideration includes $12 MM of contingent payments based on future commodity prices. (Completed; PSA announced February 2021) |
| E&P | 4/30/21 | Diversified Gas & Oil Plc | Indigo Minerals LLC | $135 |
To acquire certain Cotton Valley upstream assets primarily in LA consisting of 780 net operated wells and related facilities; includes production of about 16,000 boe/d or 95 MMcfe/d within the Cotton Valley and Haynesville producing area of NW LA and E TX. (Expected to close May) |
| E&P | 4/30/21 | Enerplus Corp. | Hess Corp. | $312 |
Acquired 78,700 net acres in Dunn County, ND, in the Bakken consisting of largely undeveloped, 100% HBP acreage, about 6,000 boe/d (76% oil, 10% NGL & 14% natural gas) of production and total 230 net undrilled inventory; includes 62.7 MMboe of proved plus probable reserves. (Completed; PSA announced April 2021) |
| E&P | 4/30/21 | Vencer Energy LLC; Vitol Group | Hunt Oil Co. | N/A |
Acquired Hunt Oil’s Midland Basin position comprising 44,000 acres across five counties in W TX and current daily production of approximately 40,000 boe/d. |
| E&P | 5/3/21 | Oasis Petroleum Inc. | Diamondback Energy Inc. | $745 |
To acquire Diamondback’s Williston Basin asset in the Bakken comprising approximately 95,000 net acres with estimated net production of 25,000 boe/d for full-year 2021. (Expected to close July) |
| E&P | 5/3/21 | Undisclosed | Diamondback Energy Inc. | $87 |
To buy, in separate transactions, Diamondback noncore Permian assets approximately 7,000 net acres of southern Midland Basin acreage in Upton County, TX, and 1,300 net acres of nonoperated Delaware Basin assets in Lea County, NM. (Expected to close 2Q 2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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