A&D DEAL SHEET
|Renew||8/23/21||Clearway Energy Inc.; Global Infrastructure Partners III||Undisclosed||$335||
To buy remaining 50% equity interest in the 530 MW Utah Solar Portfolio that it does not currently own. (Expected to close 4Q 2021)
|E&P||8/25/21||Andros Capital Partners LLC||Midland-Petro D.C. Partners LLC||$150||
Formed JV to fund a development drilling program targeting the Spraberry and Wolfcamp formations on MPDC’s position in the core of the Midland Basin in the Permian in Midland County, TX.
|Mid||8/26/21||WhiteWater Midstream LLC||Sendero Midstream Partners LP||N/A||
Bought the 24-inch Gateway Pipeline, connected to WhiteWater’s Agua Blanca pipeline system, extending approximately 24 miles north from Reeves County, TX, into the Carlsbad Area of NM in the Permian Basin.
|E&P||8/30/21||HEQ Deepwater; Houston Energy LP; Quantum Energy Partners||Beacon Offshore Energy LLC||N/A||
Purchased a 20% WI in the Shenandoah deepwater development in the US GoM.
|E&P||8/30/21||Ineos Group Ltd.||Hess Corp.||$150||
Purchased Hess Denmark ApS, which holds a 61.5% interest in the South Arne Field offshore in the Danish North Sea; Production net to Hess averaged 5,800 boe/d in 4Q 2020. (Completed; PSA announced March 2021)
To purchase interests in MT’s Sleeping Giant Field and ND’s Russian Creek area in the Williston Basin; transaction includes up to $5 MM in contingent payments tied to future oil prices. (Expected to close October)
|E&P||8/31/21||Contango Oil & Gas Co.||ConocoPhillips Co.||$67||
Acquired Wind River Basin assets covering approximately 44,000 net acres in Fremont and Natrona counties, WY, and a net production run rate of approximately 78 MMcfe/d (roughly 100% gas). (Completed; PSA announced July 2021)
|S&S||8/31/21||NexTier Oilfield Solutions Inc.||Alamo Pressure Pumping LLC||$268||
Acquired the Midland, TX-based pressure pumper operating its 9 hydraulic fracturing fleets comprised of 460,000 hp exclusively in the Permian Basin and primarily out of the Midland Basin. (Completed; PSA announced August 2021)
|E&P||8/31/21||Spartan Delta Corp.||Velvet Energy Ltd.||CA$743.3||
Purchased the privately held light-oil Montney producer with operations primarily in the Gold Creek, Karr and Pouce Coupe areas of NW Alberta. (Completed; PSA announced July 2021)
|E&P||9/1/21||Goodrich Petroleum Corp.||Undisclosed||$1.5||
Acquired 8 wells approximately 2 MMcfe/d and 5,800 gross (4,500 net) acres in the core of the Haynesville Shale basin in Louisiana’s Caddo and Bossier parishes.
|E&P||9/1/21||Southwestern Energy Co.||Indigo Natural Resources LLC||$2,700||
Acquired privately held Indigo Natural Resources, adding a 149,000 net-acre position in the Haynesville Shale in LA with 1.1 Bcf/d of net production and proved reserves as of year-end 2020 of 3.1 Tcf. (Completed; PSA announced June 2021)
|E&P||9/2/21||Mubadala Petroleum||Delek Drilling||$1,000||
Purchased Delek Drilling’s 22% stake in the Tamar gas field offshore Israel in the Mediterranean Sea operated by Chevron.
|Renew||9/2/21||Quanta Services Inc.||Blattner Holding Co.||$2,700||
To acquire the Avon, MN-based utility-scale renewable energy infrastructure solutions provider, which provides front-end engineering, procurement, project management and construction services to leading renewable energy developers for wind, solar and energy storage projects across North America; consideration includes $2.36 B in cash and $340 MM of Quanta stock plus an earnest payment to Blattner owners of up to $300 MM. (Expected to close 4Q 2021)
|E&P||9/7/21||BCE-Mach III LLC; Mach Resources LLC; Bayou City Energy Management LLC||Undisclosed||N/A||
Purchased approximately 18,200 net acres (98% HBP) of producing Anadarko Basin properties primarily across Blaine, Custer and Dewey counties, OK; includes 4,400 net royalty acres and 17 MMcfe/d of production.
|Mid||9/7/21||Enbridge Inc.||Moda Midstream LLC; EnCap Flatrock Midstream LLC||$3,000||
To acquire EnCap Flatrock-backed Moda Midstream; includes 100% operating interest in the Ingleside Energy Center—North America’s largest crude export terminal located near Corpus Christi, TX. (Expected to close 4Q 2021)
|S&S||9/7/21||RPM International Inc.||ChampionX Corp.||N/A||
Purchased a Corsicana, Texas, chemical manufacturing plant; includes supplier agreement to support ChampionX’s future manufacturing needs.
|E&P||9/8/21||Freehold Royalties Ltd.||Undisclosed||$180||
To buy a concentrated royalty land position in the core of the Eagle Ford oil basin across approximately 92,000 gross drilling unit acres in Karnes, Atascosa and Live Oak counties, TX, with an average royalty rate of approximately 1.8%. (Expected to close by Sept. 28)
|E&P||9/8/21||U.S. Energy Development Corp.||Undisclosed||$50||
Purchased a Permian project located in Loving County, TX, in the core of the Delaware Basin that includes wells targeting the 3rd Bone Spring, Wolfcamp A and Wolfcamp XY.
|E&P||9/10/21||Santos Ltd.||Oil Search Ltd.||$6,200||
To acquire PNG-focused Oil Search in an all-share deal to create a global top 20 oil and gas company worth about $6 B with assets across Australia, Timor-Leste, PNG and North America. (Expected to close year-end 2021)
|Mid||9/10/21||WaterBridge Holdings LLC; Five Point Energy LLC||Colgate Energy LLC||N/A||
Purchased the produced water infrastructure associated with Colgate’s recent asset acquisition from Occidental Petroleum in the southern Delaware Basin; includes new expanded produced water management agreement.
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
2022-11-30 - Also in this week’s A&D Minute: Who’s been quietly buying acreage in the Permian Basin? Plus see what else is on new mid-cap powerhouse Permian Resources’ radar.
2022-09-21 - Here’s a quicklist of oil and gas assets on the market including EOG Resources Texas Panhandle properties plus an Apache Corp. Gulf of Mexico Shelf nonop opportunity.
2022-09-21 - Here’s a snapshot of recent energy deals including SilverBow Resources adding a new Webb County position in South Texas plus the acquisition of core Permian Basin acreage by U.S. Energy Development Corp. for more than $60 million.
2022-10-12 - Here’s a snapshot of recent energy deals including Diamondback Energy’s agreement to acquire FireBird Energy for $1.6 billion, expanding the Permian operator’s position in the Midland Basin.
2022-10-12 - Here’s a quicklist of oil and gas assets on the market including the sale of certain nonoperated working interest properties in Henry Resources’ Melinda Lease in the Midland Basin in Upton County, Texas.