Here’s a snapshot of energy deals from the past week including roughly $300 million worth of A&D activity by WPX Energy and the closing of Chesapeake Energy’s nearly $4 billion acquisition of WildHorse Resource Development.

A&D DEAL SHEET

Sector

Date Announced

Buyer

Seller

Value (US$MM)

Location of Assets

Comments

E&P

1/28/19

Lundin Petroleum AB; Lundin Norway AS

Lime Petroleum AS; Rex International Holding Ltd.

45

Norway

To acquire Lime Petroleum’s entire Utsira High acreage position in the Norwegian Continental Shelf; includes additional 30% in Rolvsnes discovery and 20% in Goddo prospect.

Down

1/30/19

Chevron Corp.; Chevron U.S.A. Inc.

Petrobras America Inc.

350

TX

To acquire all the outstanding shares and equity interests of Pasadena Refining System, which includes the refinery in TX, and PRSI Trading.

E&P

1/30/19

Medco Energi Internasional Tbk

Ophir Energy Plc

511.02

UK; Int'l

To acquire London-based Ophir Energy with assets in Africa, Asia and Mexico.

E&P

1/30/19

Petro Rio SA

Chevron Corp.; Chevron Brasil Upstream Frade Ltda.

N/A

Brazil

To buy additional 51.74% WI and operatorship in the Frade Field located offshore Brazil in the Campos Basin.

Mid

1/31/19

Blackstone; Blackstone Infrastructure Partners

Tallgrass Energy LP; Kelso & Co.; The Energy & Minerals Group; Tallgrass KC LLC

3,300

KS

To buy controlling stake in Tallgrass Energy comprised of 100% membership interest in its general partner and a 44% economic interest. (Expected to close 1Q 2019)

E&P

1/31/19

Talon Petroleum Ltd.

EnCounter Oil Ltd.

N/A

UK

To purchase 100% of private UK-based EnCounter Oil, which has assets in the UK North Sea.

E&P

2/1/19

Chesapeake Energy Corp.

WildHorse Resource Development Corp.

3,977

TX

Acquired Houston-based WildHorse in a cash-and-stock merger; includes roughly 420,000 net acre position in the Eagle Ford Shale and Austin Chalk formations in S TX with 47,000 boe/d of production (88% liquids/73% oil). (Completed; PSA announced October 2018)

E&P

2/1/19

Entek Energy Ltd.

Emerald House LLC; Elixir Petroleum Ltd.

3

AK

To buy Emerald, which has a position in AK's North Slope covering 35,423 acres. (Expected to close March)

Mid

2/4/19

First Infrastructure Capital Advisors LLC

WhiteWater Midstream LLC; Denham Capital Management LP; Ridgemont Equity Partners

N/A

TX

To acquire WhiteWater, including its 60% stake in Agua Blanca, a Delaware Basin intrastate natural gas pipeline system. (Expected to close 1Q 2019)

Mid

2/4/19

First Infrastructure Capital Advisors LLC

WPX Energy Inc.

N/A

TX

To acquire WPX’s 20% equity interest in WhiteWater Midstream’s Agua Blanca natural gas pipeline in the Delaware Basin. (Expected to close 1Q 2019)

E&P

2/4/19

Undisclosed

WPX Energy Inc.

N/A

TX

To purchase noncore Nine Mile Draw E&P assets in southern Reeves County, Texas, within the Delaware Basin of the Permian. (Expected to close 1Q 2019)

S&S

2/4/19

Upstream Energy

Ecolab Inc.

N/A

MN

To spin off its $2.4B oil-drilling chemicals business into a separate public company. (Expected to close mid-2020)

E&P

2/4/19

WPX Energy Inc.

Undisclosed

100

TX

To buy 14,000 surface acres in WPX’s core Stateline development area within the Delaware Basin.

Emily Patsy can be reached at epatsy@hartenergy.com.