A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| 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 | 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 | 9/8/21 | West Lake Energy Corp. | Boulder Energy Ltd. | N/A |
Purchased Boulder Energy, a privately held primarily light-oil producer with assets in the Brazeau area of West Central Alberta, Canada, adding a new core area that targets the Belly River formation. |
| 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. |
| Renew | 9/15/21 | Archae Energy Inc.; Rice Acquisition Corp. | Aria Energy LLC | $1,030 |
Acquired Aria Energy through a SPAC deal forming Archaea Energy to focus on renewable natural gas and landfill gas emissions. (Completed; PSA announced April 2021) |
| E&P | 9/15/21 | Warwick Investment Group | Rosewood Resources Inc. | $450 |
Acquired Rosewood Resources operated oil and gas assets in the TX Eagle Ford Shale; combined purchase price and anticipated development capital represents an incremental commitment of roughly $450 MM to the Eagle Ford for Warwick. |
| S&S | 9/16/21 | Berry Corp. | Basic Energy Services Inc. | $43 |
To purchase as the winning bidder in a in court-supervised bankruptcy sale process substantially all of Basic’s assets in CA; final purchase price increased from initial $27 MM bid. (Expected to close by end of September 2021) |
| S&S | 9/16/21 | Ranger Energy Services Inc. | Basic Energy Services Inc. | $36.65 |
To acquire as the selected winning bidder in a court-supervised bankruptcy sale process substantially all of Basic’s well servicing and completion and remedial segment assets outside of CA. (Expected to close by end of September 2021) |
| S&S | 9/16/21 | Select Energy Services LLC | Basic Energy Services Inc. | $20 |
To buy as the selected winning bidder in a in court-supervised bankruptcy sale process substantially all of Basic’s assets outside of CA, including all of the assets of Agua Libre Midstream LLC. (Expected to close by end of September 2021) |
| Mid | 9/16/21 | Suncor Energy Inc. | TC Energy Corp. | CA$1,300 |
To purchase a 15% stake in the Northern Courier Pipeline with a value of approximately CA$1.3 B through a partnership with eight Indigenous communities. (Expected to close 4Q 2021) |
| E&P | 9/16/21 | Vista Oil & Gas SAB de CV | ConocoPhillips Co. | $77 |
Acquired a 50% nonoperating interest in the Aguada Federal and Bandurria Norte exploitation concessions in the Vaca Muerta shale oil play. |
| E&P | 9/19/21 | Laredo Petroleum Inc. | Pioneer Natural Resources Co. | $230 |
To acquire for cash and stock approximately 20,000 net acres directly offsetting its existing Midland Basin leasehold in western Glasscock County, TX; includes 4,400 boe/d (59% oil, 82% liquids) of current production and 135 gross operated oil-weighted locations. (Expected to close October). |
| E&P | 9/20/21 | ConocoPhillips Co. | Royal Dutch Shell Plc | $9,500 |
To acquire Shell’s Permian business comprising approximately 225,000 net acres within the Delaware Basin located entirely in West Texas with current production of around 175,000 boe/d. (Expected to close 4Q 2021) |
| Mid | 9/20/21 | Lagoon Water Midstream LLC | Double Drop Resources LLC | N/A |
Bought Midland Basin water management company Double Drop Resources with assets capable of sourcing over 300,000 bbl/d of water for completion operations. |
| S&S | 9/21/21 | Water Energy Services LLC | Key Energy Services Inc. | N/A |
Purchased TX and NM fluid management and saltwater disposal well assets. |
| E&P | 9/22/21 | Kiwetinohk Resources Corp.; ARC Resources Ltd. | Distinction Energy Corp. | N/A |
Acquired Distinction, formerly Delphi Energy, with accumulated property in the Montney resource near Fox Creek, Alberta. |
| E&P | 9/24/21 | Freehold Royalties Ltd. | Undisclosed | $180 |
Bought 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%. (Completed; PSA announced early September 2021) |
| E&P | 9/24/21 | PHX Minerals Inc. | Undisclosed | $7.2 |
Purchased certain mineral and royalty interests totaling approximately 817 net royalty acres in E TX and LA targeting the Haynesville play through two separate transactions. (Completed; PSA announced September 2021) |
| E&P | 9/27/21 | Undisclosed | Whiting Petroleum Corp. | $187 |
Bought Whiting’s entire D-J Basin position, including midstream assets, located in Weld County, CO; includes 67,278 net acres with daily production of approximately 7,100 boe/d (51% oil). (Completed; PSA announced July 2021) |
| E&P | 9/27/21 | Whiting Petroleum Corp. | Undisclosed | $271 |
Acquired 8,752 net acres in Mountrail County, ND, adjacent to existing operations in the Sanish Field within the Williston Basin, with net daily production of approximately 4,200 boe/d (80% oil). (Completed; PSA announced July 2021) |
| E&P | 9/28/21 | Crescent Pass Energy LLC | Armor Energy LLC; Undisclosed | N/A |
Purchased producing assets in the northern area of the Eagle Ford play from Armor Energy plus three bolt-on acquisitions in the Cotton Valley trend in E TX. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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