Source: HartEnergy.com

A&D DEAL SHEET

Sector  Date
Announced
 Buyer  Seller  Value
(US$MM)
 Comments
E&P 10/3/22 SilverBow Resources Inc. Undisclosed $87

To acquire bolt-on to Karnes trough position in the Eagle Ford and Austin Chalk adding 5,200 net acres in the oil and condensate windows of Dewitt and Gonzales Cos., TX, and about 1,100 boe/d (44% oil) of net production. (Expected to close 4Q 2022)

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E&P 10/6/22 Northern Oil and Gas Inc. Laredo Petroleum Inc. $110

Bought certain nonoperated properties within the Midland Basin of the Permian located in in Howard County, TX; includes 1,650 net acres and expected full-year 2023 average net production of 1,800 boe/d (roughly 72% oil) substantially operated by SM Energy. (Completed; PSA announced August 2022)

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Mid 10/7/22 DT Midstream Inc. National Grid Plc $552

Bought National Grid’s 26.25% ownership interest in the Millennium Pipeline, boosting its ownership in Millennium which delivers Marcellus and Utica gas to markets across NY and New England to 52.5%. (Completed; PSA announced September 2022)

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Mid 10/7/22 MidOcean Energy; EIG Tokyo Gas Co. Ltd. $2,150

To acquire Tokyo Gas’ interests in a portfolio of four Australian integrated LNG projects—Gorgon LNG, Ichthys LNG, Pluto LNG and Queensland Curtis LNG—span Australia’s western and eastern seaboard; expected to generate approximately 1 million tonnes per annum of LNG net to MidOcean. (Expected to close 1H 2023)

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Mid 10/10/22 Gulf Terminals LLC Martin Midstream Partners LP $5.25

Purchased the Stockton Sulfur Terminal in CA.

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E&P 10/11/22 Diamondback Energy Inc. FireBird Energy LLC; RedBird Capital Partners LLC: Ontario Teachers' Pension Plan $1,600

To acquire Fort Worth, TX-based FireBird in a cash-and-stock transaction; includes 68,000 net-acre position in the Midland Basin, over 350 estimated gross horizontal locations and about 22,000 boe/d of production. (Expected to close 4Q 2022)

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E&P 10/11/22 Northern Oil and Gas Inc. Undisclosed $130

To acquire additional core northern Delaware Basin bolt-on in the Permian comprised of nonoperated WI covering roughly 2,100 net acres, 5.3 net producing wells, 2.1 net wells-in-process and approximately 17.2 net undeveloped locations in Lea and Eddy Cos., NM, and Loving and Winkler Cos., TX. (Expected to close December)

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E&P 10/14/22 VAALCO Energy Inc. TransGlobe Energy Corp. $307

Acquired Calgary, Alberta-based TransGlobe in a stock-for-stock strategic business combination transaction expected to crease African-focused E&P company with assets will be located in prolific and established basins in Egypt, Gabon and Equatorial Guinea plus Canada. (Completed; PSA announced in July 2022)

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Renew 10/17/22 BP Plc Archaea Energy Inc. $4,100

To purchase Houston-based RNG producer, Archaea, which operates about 50 RNG and landfill gas-to-energy facilities across the US, for $3.3B in cash plus the assumption of $800MM net debt. (Expected to close by year-end)

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E&P 10/17/22 Omega Acquisition Inc. (Harold Hamm) Continental Resources Inc. $4,300

To acquire Oklahoma City-based Continental with shale assets across the Bakken of ND and MT, Anadarko Basin of OK, Powder River Basin of WY and Permian Basin in W TX; merger agreement is a take-private offer by entity owned by founder and chairman Harold Hamm. (Expected to close by year-end)

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E&P 10/19/22 Northern Oil and Gas Inc. Midland-Petro D.C. Partners LLC (MPDC) $330


To purchase a 36.7% working interest in the Mascot Project in the Midland Basin in Midland County, TX, in the Permian; production expected to average 6,450 boe/d for full-year 2023 (2-stream, about 80% oil). (Expected to close January)

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Mid 10/19/22 Shell Plc; Shell USA Inc. Shell Midstream Partners LP $1,960

Purchased all remaining interests in Shell Midstream Partners held by the public at $15.85 per public common unit in cash; currently owns roughly 68.5% of Shell Midstream Partner common units. (Completed; PSA announced July 2022)

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Down 10/20/22 Par Pacific Holdings Inc. Exxon Mobil Corp. $310

To buy 63,000 bbl/d Billings oil refinery and select midstream assets in MT and WA including the Silvertip pipeline, Exxon Mobil’s interest in the Yellowstone pipeline and Yellowstone Energy LP, and its interests in product terminals in both states. (Expected to close 2Q 2023)

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Renew 10/21/22 Energy Capital Partners Ørsted $410

Purchased a 50 % ownership stake in onshore wind farms Lincoln Land Wind, Plum Creek Wind and Willow Creek Wind plus the solar farm Muscle Shoals located in IL, NE, SD and AL.

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S&S 10/26/22 SLB Gyrodata Inc. N/A

To acquire Houston-based Gyrodata and integrate the company’s wellbore placement and surveying technologies within SLB’s well construction business. (Expected to close year-end 2022)

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Renew 10/28/22 NextEra Energy Inc. Energy Power Partners Fund I LP; North American Sustainable Energy Fund LP $1,100

To acquire large portfolio of operating landfill gas-to-electric facilities with plans to convert into RNG.

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E&P 10/31/22 Journey Energy LLC Enerplus Corp. CA$140

Bought certain Canadian assets located in Alberta including Ante Creek and Medicine Hat operations along with its broad interests in the West Five and West Six areas of Alberta. (Completed; PSA announced July 2022)

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S&S 10/31/22 Veritas Capital Wood Mackenzie Ltd.; Verisk $3,300

To purchase analytics company Wood Mackenzie; transaction includes additional contingent consideration of up to $200 MM. (Expected to close 1Q 2023)

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For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.