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Business
Oil Surge Gives PE Opportunity to Exit Stranded Canadian Energy Firms
Buyout firms have sold around $2.6 billion worth of Canadian oil and gas producers so far this year, the highest level since at least 2010, according to IHS Markit.
Acquisitions & Divestitures
Energy A&D Transactions from the Week of Sept. 22, 2021
Here’s a snapshot of recent energy deals including Shell’s U.S. shale exit through the $9.5 billion cash sale of its Permian Basin position to ConocoPhillips.
Lease Sales
On the Market Oil and Gas Quicklist (Week of Sept. 22, 2021)
Here’s a quicklist of oil and gas assets on the market including a legacy mineral position in the Permian Basin plus a Rock Oil nonop and minerals opportunity in the SCOOP and STACK plays of Oklahoma.
Public Capital
Insight: ConocoPhillips Made Shell Permian Deal with Cash, ‘Patience’
After patiently waiting through the shale land rush, Enverus’ Andrew Dittmar says ConocoPhillips is picking up prime real estate in the Permian Basin with its blockbuster purchase from Shell.
Shale Plays
Northern Oil and Gas in Lead to Buy Comstock Bakken Assets
Northern Oil and Gas bid about $170 million for a nonoperated working interest in Comstock Resources’ Bakken assets, sources say.
Lease Sales
Marketed: Boaz Operated Powder River Basin Divestiture
Boaz Rockies Operating LLC retained RedOaks Energy Advisors for the sale of operated conventional properties in Wyoming within the Powder River Basin.
Private Equity
Lagoon Water Midstream Enters Permian Basin through Double Drop Acquisition
The acquisition of Double Drop Resources significantly expands Lagoon Water Midstream’s operations and establishes it as a multibasin water management company.
Lease Sales
Marketed: Multistate Royalties Operated by XTO, EQT, More
Thomas L. Taylor, as receiver for Breitling Royalties, retained EnergyNet for the sale of royalty and overriding royalty interests in a multiple property package across several states with select operators including XTO Energy, EQT and more.
Shale Plays
Key Energy Services Sells Texas, New Mexico Fluid Management Business
The sale of all its Texas and New Mexico fluid management and saltwater disposal well assets completes Key Energy Services’ exit from this line of business in these states.
Lease Sales
Marketed: Rock Oil SCOOP/STACK Nonop, Minerals Opportunity
ESP EOC Rose Rock LLC retained Detring Energy Advisors for the sale of its nonoperated working interest and mineral interest in the heart of the SCOOP and STACK plays of the Anadarko Basin.