A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Mid | 9/23/20 | Max Midstream | Oaktree Capital Management LP | N/A |
Bought the Seahawk Pipeline and Terminal with plans to revitalize the terminal located at the Port of Calhoun into a new export hub for US crude oil on the TX Gulf Coast. |
| Mid | 9/24/20 | Brookfield Infrastructure Partners LP; Blackstone Infrastructure Partners | The Blackstone Group Inc.; Cheniere Energy Partners LP | $7,000 |
Bought a roughly 42% stake in Cheniere Energy Partners. |
| Renewable | 9/28/20 | ACCIONA SA | Diode Ventures LLC | N/A |
Purchased a 240-MW, PV-solar power project in development in Fort Bend County, TX, near Houston. |
| Mid | 9/28/20 | CNX Resources Corp. | CNX Midstream Partners LP | $357 |
Purchased the remaining public stake, comprising about 42.1 million outstanding common units, of CNX Midstream Partners, which has assets in the Appalachian Basin in PA and WV. (Completed; PSA announced July 2020) |
| E&P | 9/28/20 | Devon Energy Corp. | WPX Energy Inc.; EnCap Investments LP | $5,750 |
To acquire in an all-stock combination transaction creating a multibasin company with positions across the Permian/Delaware Basin, Eagle Ford, Anadarko Basin/STACK, Powder River Basin and Williston Basin/Bakken including 400,000 net acres in the Delaware Basin accounting for nearly 60% of its total oil production; includes assumption of $3.2 billion net debt. (Expected to close 1Q 2021) |
| E&P | 9/28/20 | Petrobras | Total SA | N/A |
To buy equity interest in five exploration blocks in the Foz do Amazonas basin offshore Brazil. |
| Mid | 9/28/20 | Plains All American Pipeline LP | Inter Pipeline LP | N/A |
To acquire 100% ownership interest in the Empress II and 50% ownership interest in the Empress V straddle plants located in Alberta in exchange for the Milk River pipeline system, also located in Alberta, and for $35MM cash. |
| Mid | 10/1/20 | Blackbuck Resources LLC | Cimarex Energy Co. | N/A |
Bought the Whites City water infrastructure in Eddy County, NM, in the Delaware Basin within the Permian. |
| E&P | 10/1/20 | The Carlyle Group LP | Occidental Petroleum Corp. | $825 |
To purchase onshore assets in Colombia, which includes Occidental's operations and working interests in the Llanos Norte, Middle Magdalena and Putumayo basins. (Expected to close 4Q 2020) |
| Mid | 10/1/20 | Hartree Partners LP | Third Coast Midstream LLC | N/A |
Purchased Cushing, OK, crude oil storage business consisting of five storage tanks with approximately 3 MMbbl of storage capacity. |
| E&P | 10/1/20 | Kalnin Venture LLC; Banpu Pcl | Devon Energy Corp. | $830 |
Acquired Devon’s Barnett position, which includes over 320,000 gross acres and 4,200 producing wells in N TX that average 597 MMcfe/d of net production in 3Q 2019; proved reserves at YE 2018 were about 4 Tcfe; amended terms made April 14 includes lower cash closing payment and addition of contingency payments. (Completed; PSA announced December 2019) |
| E&P | 10/1/20 | Kimmeridge Energy Management Co. LLC | Callon Petroleum Co. | $140 |
Bought an ORRI in substantially all Callon-operated oil and gas leaseholds in the Permian Basin and Eagle Ford Shale; consists of a 2% (on an 8/8ths basis) ORRI, proportionately reduced to Callon’s net revenue interest. |
| Mid | 10/1/20 | Undisclosed | Black Bear Transmission LLC | N/A |
Purchased all the assets owned by Ozark Gas Gathering LLC, including a natural gas gathering system that connects regional production in OK and AR comprising more than 220 active metered locations, approximately 330 miles of natural gas pipelines, and 19 active compressor units totaling 11,400 hp. |
| E&P | 10/1/20 | Undisclosed | Callon Petroleum Co. | $30 |
To buy substantially all of its nonoperated assets in the Permian Basin and Eagle Ford Shale with current production of about 1,600 boe/d (55% oil). (Expected to close November) |
| E&P | 10/5/20 | BHP Group Plc | Hess Corp. | $505 |
To acquire Hess' stake comprised of a 28% working interest in the Shenzi Field in the deepwater GoM. (Expected to close by year-end 2020) |
| S&S | 10/5/20 | Caterpillar Inc. | The Weir Group Plc | $405 |
To purchase Weir Group's oil and gas division, which includes more than 40 manufacturing and services locations and about 2,000 employees. |
| E&P | 10/5/20 | Chevron Corp. | Noble Energy Inc. | $13,000 |
Acquired in all-stock transaction Houston-based Noble, which has U.S. shale assets in the Permian, D-J and Eagle Ford basins including a publicly traded midstream business plus international positions in the Eastern Mediterranean and offshore West Africa; includes assumption of $8 B in debt. (Completed; PSA announced July 2020) |
| E&P | 10/5/20 | Lundin Energy AB | Idemitsu Petroleum Norge AS |
$125 |
To buy stakes in several oil discoveries in the Barents Sea adding adding 70 MMboe in reserves; includes 10% stake in the Wisting oil discovery plus increases holdings in the Alta find and Polmak exploration well. |
| S&S | 10/5/20 | Quorum Software | Landdox | N/A |
Acquired Landdox, the leading innovator in cloud-first land technology which will become a key component of Quorum Upstream On Demand. |
| Mid | 10/5/20 | TC Energy Corp. | TC PipeLines LP | $1,480 |
To buy the rest of the natural gas pipelines operator and its indirect subsidiary; TC Energy owns a 23.96% stake in TC PipeLines. |
| E&P | 10/6/20 | Canadian Natural Resources Ltd. | Painted Pony Energy Ltd. | CA$461 |
Acquired Calgary, Alberta-based Painted Pony which holds 187,000 net acres across the NE BC Montney fairway in the Western Canadian Sedimentary Basin producing about 270 MMcf/d of natgas and 4,600 bbl/d of NGL; includes assumption of C$350 MM of debt. (Completed; PSA announced August 2020) |
| E&P | 10/6/20 | Chrysaor Holdings Ltd.; EIG Global Energy Partners; Harbour Energy Ltd. | Premier Oil Plc | $2,700 |
To acquire Premier Oil through a reverse takeover set to create the British North Sea’s largest oil and gas producer; Premier’s approximately US$2.7 billion of total gross debt and certain hedging liabilities will be repaid and cancelled on completion. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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