A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| S&S | 10/12/20 | NTS Group | Amega West Services LLC; Carpenter Technology Corp. | N/A |
Purchased Houston-based service provider focused on the manufacture, repair and rental of legacy and specialized drilling equipment used in offshore and land-based oil and gas extraction applications. |
| E&P | 10/12/20 | Panhandle Oil and Gas Inc. | Red Stone Resources LLC | $6.9 |
Purchased two packages totaling approximately 795 net royalty acres in the SCOOP and Haynesville plays currently producing 1.1 MMcfe/d (6% oil, 1% NGL and 93% natural gas). (Completed; PSA announced August 2020) |
| Mid | 10/13/20 | Citizen Energy LLC; Blue Mountain Midstream LLC | Riviera Resources Inc. | $111 |
Purchased Blue Mountain Midstream, Riviera subsidiary, which provides gathering, processing, transportation and marketing services for oil and gas producers in the Merge/SCOOP/STACK plays within the Midcontinent region of OK. (Completed; PSA announced August 2020) |
| E&P | 10/13/20 | Undisclosed | Riviera Resources Inc. | $26.5 |
Bought interest in N LA properties, consisting of about 100 wells averaging 16 MMcfe/d of net production in 2Q 2020. (Completed in September 2020; PSA announced July 2020) |
| E&P | 10/13/20 | Undisclosed | Riviera Resourcs Inc. | $16 |
Bought interest in certain Anadarko Basin properties including approximately 2,100 wells located in 14 counties throughout central and NW OK averaging about 28 MMcfe/d of production. (Completed; PSA announced August 2020) |
| Mid | 10/16/20 | Zenith Energy | Plains All American Pipeline LP | N/A |
Purchased three interconnected West Coast terminals including terminals with 8.2 MMbbl of aggregate storage capacity in Los Angeles County, CA, commonly referred to as the Long Beach, Dominguez Hills and Alamitos Terminals, in addition to approximately 50 miles of bi-directional pipeline. |
| E&P | 10/19/20 | ConocoPhillips Co. | Concho Resources Inc. | $9,700 |
To acquire Permian pure-play Concho Resources in an all-stock deal that swaps 1.46 shares of ConocoPhillips for each Concho share; includes a roughly 800,000 gross (550,000 net) acre position in both the Delaware and Midland sub-basins. (Expected to close 1Q 2021) |
| E&P | 10/20/20 | Pioneer Natural Resources Co. | Parsley Energy Inc.; Quantum Energy Partners | $7,600 |
To acquire Permian pure-play Parsley Energy in an all-stock deal with a fixed exchange ratio of 0.1252 shares of Pioneer common stock for each share of Parsley stock owned and the assumption of $3.1 B of debt; includes 248,000 net leasehold acres in the Midland and Delaware sub-basins. (Expected to close 1Q 2021) |
| E&P | 10/22/20 | Laredo Petroleum Inc. | Undisclosed | $11.3 |
Purchased 2,758 net acres in the Permian's Midland sub-basin adjacent to existing acreage in Howard County, TX, with 210 boe/d (80% oil) of production. |
| 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) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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