A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 9/6/22 | EQT Corp. | Tug Hill Inc.; XcL Midstream LLC; Quantum Energy Partners | $5,200 |
To acquire THQ Appalachia I LLC (Tug Hill)'s upstream assets and THQ-XcL Holdings I LLC (XcL Midstream)'s gathering and processing assets, both backed by Quantum Energy Partners, in the Appalachian Basin offsetting existing West Virginia core leasehold. (Expected to close 4Q 2022) |
| E&P | 9/6/22 | Sitio Royalties Corp. | Brigham Minerals Inc. | $4,800 |
To acquire in an all-stock merger; combined company will consist of a total of 259,510 net royalty acres in the Permian Basin and other oil-focused regions. |
| Mid | 9/8/22 | Williams Cos. Inc. | NorTex Midstream; Tailwater Capital | $423 |
Bought NorTex Midstream, a fully contracted natural gas pipeline and storage asset in North Texas backed by Tailwater Capital. |
| Mid | 9/12/22 | Antero Midstream Corp. | Crestwood Equity Partners LP | $205 |
To purchase Crestwood’s Marcellus natural gas gathering and compression assets are located in the Appalachian Basin in Doddridge and Harrison Cos, WV; includes 72 miles of dry gas gathering pipelines and nine compressor stations with roughly 700 MMcf/d of compression capacity. (Expected to close 4Q 2022) |
| Renew | 9/12/22 | CIM Group | MAS Energy LLC | N/A |
Acquired 100% of the renewable natural gas (RNG) development platform of MAS Energy, which will be renamed Terreva Renewables. |
| E&P | 9/12/22 | Tamarack Valley Energy Ltd. | Deltastream Energy Corp.; ARC Financial Corp. | CA$1,425 |
To buy privately held pure-play Clearwater oil producer, Deltastream, which is backed by ARC Financial. (Expected to close October) |
| E&P | 9/12/22 | Topaz Energy Corp. | Deltastream Energy Corp. | $265.3 |
To purchase a newly created 5% gross overriding royalty on all current and future oil production from Deltastream’s entire Clearwater acreage. (Expected to close Sept. 29) |
| E&P | 9/13/22 | U.S. Energy Development Corp. | Undisclosed | $60 |
Acquired three separate asset packages in the core of the Delaware Basin in the Permian region that includes partnering with operators in 17 new wells spanning a three-county area. |
| Renew | 9/14/22 | Enverus | RatedPower | N/A |
Purchased the Madrid-based company helps companies in the solar industry through use of automatization and optimization as well as digital technologies and analysis. |
| E&P | 9/15/22 | SilverBow Resources Inc. | Undisclosed | $50 |
Purchased through a series of transactions a 7,500 net-acre position in the dry gas Dorado play in Webb County, TX, with over 50 net drilling locations across the Austin Chalk and Eagle Ford formations; net recoverable resource is 650 Bcf and current net production is about 30 MMcf/d. |
| Mid | 9/19/22 | Steel Reef Infrastructure Corp. | Summit Midstream Partners LP | $40 |
Purchased the Bison Gas gathering system, located in Mountrail and Burke Cos., ND, serving Bakken and Three Forks gas producers in the Williston Basin. |
| Mid | 9/22/22 | Momentum Midstream LLC; EnCap Flatrock Midstream | Midcoast Energy LLC; ArcLight Capital Partners LLC; Align Midstream LLC; Tailwater Capital LLC | N/A |
Bought Midcoast’s E TX business, a gathering and transportation system with 1.5 Bcf/d of current volume, and Align Midstream, which owns several gathering systems adjacent to Midcoast with current volumes of 600 MMcf/d. |
| E&P | 9/22/22 | Talos Energy Inc. | EnVen Energy Corp. | $1,100 |
To acquire private operator EnVen, which holds 78 MMboe of 2P reserves and 420,000 gross acres in the Gulf of Mexico. |
| E&P | 9/26/22 | Decarbonization Plus Acquisition Corp.; Riverstone Holdings LLC | Hammerhead Resources Inc.; Riverstone Holdings LLC | CA$1,390 |
To acquire Hammerhead, a Calgary, Alberta-based Montney Shale producer with a CCS program under development, in a business combination transaction that values it at CA$1.39 billion. (Expected to close 1Q 2023) |
| Mid | 9/27/22 | Undisclosed | Kinder Morgan Inc. | $565 |
To buy a 25.5% equity interest in Elba Liquefaction Co. LLC, which is a JV that owns the Elba liquefaction facility located on Elba Island in Chatham County, GA. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
Recommended Reading
US Expected to Supply 30% of LNG Demand by 2030
2024-02-23 - Shell expects the U.S. to meet around 30% of total global LNG demand by 2030, although reliance on four key basins could create midstream constraints, the energy giant revealed in its “Shell LNG Outlook 2024.”
Baker Hughes Detects LNG Slowdown Solutions, Global Opportunities
2024-01-26 - Baker Hughes’ fourth quarter earnings call confronts Biden’s halt on LNG permitting with “solve itself” attitude.
CERAWeek: JERA CEO Touts Importance of US LNG Supply
2024-03-22 - JERA Co. Global CEO Yukio Kani said during CERAWeek by S&P Global that it was important to have a portfolio of diversified LNG supply sources, especially from the U.S.
Texas LNG Export Terminal Completes Required Permitting for FID
2024-01-26 - Glenfarne expects the Texas LNG project’s commercialization to be completed in the first half of 2024.
Biden Administration Hits the Brake on New LNG Export Projects
2024-01-26 - As climate activists declare a win, the Department of Energy secretary says the pause is needed to update current policy.