[Editor’s note: Energy A&D Transactions chart will take a brief hiatus. The next chart will publish on Dec. 2.]
A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 10/25/20 | Cenovus Energy Inc. | Husky Energy Inc. | CA$3,800 |
To acquire Calgary, Alberta-based Husky Energy in an all-stock merger. (Expected to close 1Q 2021) |
| E&P | 10/26/20 | Contango Oil & Gas Co. | Mid-Con Energy Partners LP | N/A |
To buy Tulsa, OK-based Mid-Con Energy in an all-stock merger; includes conventional assets in OK and WY. (Expected to close by early 2021) |
| E&P | 10/26/20 | IPR Energy Group | Dana Gas | $236 |
To purchase onshore Egyptian producing assets (production over 80% gas); includes 100% interest in the El Manzala, West El Manzala, West El Qantara and North El Salhiya concessions. (Expected to close early 2021) |
| Mid | 10/27/20 | DTE Midstream | DTE Energy Co. | N/A |
To spin off its gas pipeline business, which transports natural gas extracted from shale basins in Appalachia and LA, into a publicly-traded company. (Expected to close mid-2021) |
| E&P | 10/27/20 | EQT Corp. | Chevron Corp. | $735 |
To acquire Appalachia upstream and midstream assets; includes 335,000 total net acres in the Marcellus Shale with current net production of about 450 MMcfe/d plus 31% ownership interest in Laurel Mountain Midstream. (Expected to close 4Q 2020) |
| E&P | 10/28/20 | Undisclosed | Harvest Oil & Gas Corp. | $20.5 |
Purchased Appalachian Basin assets representing substantially all of the assets of Harvest in a cash and stock transaction; includes assets in the Utica Shale located across OH, PA and WV. (Completed; PSA announced July 2020) |
| Mid | 11/2/20 | Berkshire Hathaway Inc. | Dominion Energy Inc. | $9,700 |
Bought Dominion's natural gas transmission and storage business; includes over 7,700 miles of natural gas transmission lines, with about 20.8 Bcf/d of transportation capacity and 900 Bcf of operated natural gas storage with 364 Bcf of company-owned working storage capacity, and partial ownership of a LNG export facility plus assumption of $5.7 B debt. (Completed; PSA announced July 2020) |
| Mid | 11/2/20 | BWC Terminals LLC | NuStar Energy LP | $106 |
To buy terminals in Texas City, TX, with petrochemical and petroleum capabilities. (Expected to close 4Q 2020) |
| S&S | 11/2/20 | Dresser Natural Gas Solutions (NGS) | Flow Safe Inc. | N/A |
Purchased Flow Safe, a leading manufacturer of spring-operated and pilot-operated high-performance pressure relief devices based in Orchard Park, NY. |
| S&S | 11/2/20 | Lufkin Industries LLC; KPS Capital Partners LP | Schlumberger Ltd. | N/A |
Purchased Schlumberger’s rod-lift business with an expansive footprint across all major oil-producing regions onshore in North America, including the Permian Basin; includes Don-Nan, Shores Lift Solutions, KBA Engineering, Platinum Pumpjack Services and RLC Rod Lift Consulting. |
| S&S | 11/3/20 | Baker Hughes Co. | Compact Carbon Capture AS (3C) | N/A |
To buy Norway-based 3C, a pioneering technology development company specializing in carbon capture solutions. |
| Mid | 11/4/20 | Denbury Inc. | Genesis Energy LP | $92.5 |
Purchased through restructured pipeline arrangements the Northeast Jackson Dome Pipeline system in LA and the Free State Pipeline in E MS. |
| E&P | 11/4/20 | Tourmaline Oil Corp. | Jupiter Resources Inc. | CA$626 |
To acquire Calgary, Alberta-based Jupiter Resources and its assets in the Western Canadian Sedimentary Basin/Albert Deep Basin in an all-stock deal; includes assumption of about CA$200 MM of net debt. (Expected to close December) |
| E&P | 11/4/20 | Tourmaline Oil Corp. | Modern Resources Inc. | CA$144 |
Acquired Calgary, Alberta-based Modern Resources and its assets in the Western Canadian Sedimentary Basin/Albert Deep Basin in a cash and stock deal. |
| E&P | 11/6/20 | BHP Group Plc | Hess Corp. | $505 |
Acquired Hess' stake comprised of a 28% working interest in the Shenzi Field in the deepwater GoM. (Completed; PSA announced October 2020) |
| E&P | 11/8/20 | Ameredev | Lilis Energy Inc. | $46.6 |
To buy substantially all of Lilis’ assets through a Chapter 11 bankruptcy auction including approximately 16,000 net acres located in Permian’s Delaware sub-basin in Winkler and Loving Cos., TX, and Lea County, NM. (Expected to close December 2020) |
| E&P | 11/9/20 | Bonanza Creek Energy Inc. | HighPoint Resources Inc. | $376 |
To acquire rival D-J Basin producer in a merger that includes the restructuring of HighPoint; combined company will have production of 50,000 boe/d and a consolidated, contiguous leasehold position of approximately 206,000 net acres in rural Weld County, CO. (Expected to close 1Q 2021) |
| E&P | 11/9/20 | Headwater Exploration Inc. | Cenovus Energy Inc. | CA$100 |
To purchase Marten Hills oil assets in northern Alberta in the Clearwater play; includes 100% WI in about 2,800 bbl/d of medium oil production and 270 net sections of Clearwater rights. (Expected to close year-end 2020) |
| Mid | 11/9/20 | Riverstone Holdings LLC | International-Matex Tank Terminals (IMTT); Macquarie Group Ltd. | $2,685 |
To acquire New Orleans-based IMTT, which operates 19 bulk liquid storage terminals East, West and Gulf Coasts, as well as the Great Lakes region with total storage capacity of about 48 MMbbl. (Expected to close late 2020/early 2021) |
| E&P | 11/10/20 | EOG Resources Inc. | Tethys Oil AB | N/A |
To acquire a 50% interest in the exploration and production sharing agreement covering Block 49 onshore Oman as part of a farm-out. |
| E&P | 11/10/20 | Total SA | Tullow Oil Plc | $575 |
Bought Tullow’s roughly 33.3% stake in the Uganda Lake Albert onshore development project including the East African Crude Oil Pipeline. (Completed; PSA announced April 2020) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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