A&D DEAL SHEET

Sector

Date
Announced

Buyer

Seller

Value
(US$MM)

Comments

E&P

7/29/19

Osaka Gas Co. Ltd.

Sabine Oil & Gas Corp.

$610

To acquire Houston-based Sabine, which has a 175,000-net acre position in the Haynesville and Cotton Valley shale plays across E TX; production is 210 MMcfe/d.

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E&P

7/30/19

Equinor ASA

Royal Dutch Shell Plc; Shell Offshore Inc.

$965

Acquired, through an exercise of preferential rights, an additional 22.45% interest in the Caesar Tonga deepwater US GoM field within the Green Canyon area; boosts Equinor's interest to 46% from 23.55%. (Completed; PSA announced May 13)

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Down

7/30/19

Ontario Power Generation Inc.

TC Energy Corp

$2,870

To buy the 683-MW Halton Hills power plant, the 900-MW Napanee generating station that is nearing completion and TC Energy's 50% stake in the 550-MW Portlands Energy Centre, all located in Ontario, Canada. (Expected to close late 2019)

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Mid

7/30/19

Prostar Capital

NuStar Energy LP

$250

Bought the storage terminal facility in St. Eustatius located in the Caribbean consisting of 60 commercial tanks and associated deepwater jetties and pipelines, with a total storage capacity of 2.3 million cubic meters.

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E&P

7/30/19

Bedrock Energy Partners LLC

Harvest Oil & Gas Corp.

$72

To buy substantially all of Harvest's interests in the Barnett Shale, which comprise a roughly 28% WI in 164,276 gross (40,658 net) acres across N TX, over 90% of which is nonoperated; production in 1Q 2019 averaged 55.6 MMcfe/d. (Expected to close 3Q 2019)

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E&P

7/30/19

Viper Energy Partners LP

Diamondback Energy Inc.

$700

To acquire through a dropdown 5,090 net royalty acres across the Permian's Midland and Delaware basins, over 95% of which is Diamondback-operated. (Expected to close 4Q 2019)

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Mid

7/31/19

Altus Midstream Co.

Enterprise Products Partners LP

N/A

Acquired a 33% equity interest in the Enterprise subsidiary that owns the Shin Oak pipeline that transports NGL production from multiple basins, including the Permian, to Mont Belvieu, TX.

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E&P

7/31/19

Continental Resources Inc.

Undisclosed

$79.5

Acquired additional leasehold in the Scoop play adding up to 150 gross operated Woodford and Sycamore locations.

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E&P

7/31/19

Ecopetrol SA

Occidental Petroleum Corp.

$1,500

Formed JV to develop 97,000 net acres within the Permian's Midland Basin in W TX; Ecopetrol purchased a 49% stake for $750 MM cash plus $750 MM of carried capital.

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Mid

7/31/19

Lagoon Water Solutions LLC

Continental Resources Inc.

$85

Purchased a water gathering and recycling system in the Stack play in Blaine County, OK; includes long-term agreement for water sourcing, gathering and disposal services.

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E&P

7/31/19

Norwegian Energy Co. ASA (Noreco)

Royal Dutch Shell Plc; Shell Overseas Holdings Ltd.

$1,900

Bought Shell's upstream Denmark assets; includes 36.8% nonoperating interest in the Danish Underground Consortium (DUC), a JV focused in the Danish North Sea. (Completed; PSA announced October 2018)

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Mid

7/31/19

Solaris Water Midstream LLC

Concho Resources Inc.

N/A

Formed a JV to focus on produced water logistics at scale in the Northern Delaware Basin located primarily in Eddy County, NM; includes a long-term produced water management.

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E&P

7/31/19

Undisclosed

Whiting Petroleum Corp.

$53

To purchase, in multiple agreements, nonoperated properties comprising 6,800 net acres in the Rockies/Williston Basin and production of 703 boe/d as of April 2019. (Expected to close 3Q 2019)

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Mid

8/1/19

UGI Energy Services LLC; UGI Corp.

TC Energy Corp.

$1,275

Purchased the Columbia Midstream Group subsidiary, which owns five gathering systems in the SW core of the Appalachian Basin comprising 240 miles of pipeline and 2,675,000 MMBtu/d of capacity. (Completed; PSA announced July)

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E&P

8/1/19

Undisclosed

Gulfport Energy Corp.

$54

Bought S LA assets with net production averaged 1,500 boe/d; Gulfport retained ORRI. (Closed July 3)

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E&P

8/2/19

Alliance Resource Partners LP

Wing Resources LLC; Natural Gas Partners LP (NGP)

$145

Bought oil and gas mineral interests in the Permian Basin from Dallas-based Wing, which holds more than 200,000 gross acres with interest in over 4,000 wells throughout the Midland and Delaware basins. (Completed; PSA announced June)

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Mid

8/5/19

Delek US Holdings LP; MPLX LP; Rattler Midstream LP

Exxon Mobil Corp.; Lotus Midstream LLC; Plains All American Pipeline LP

N/A

Acquired stakes in the Wink to Webster crude oil pipeline project serving Permian Basin producers in W TX; Delek US purchased a 15% ownership interest ranging from $340 MM to $380 MM.

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E&P

8/6/19

Amplify Energy Corp.

Midstates Petroleum Co. Inc.

$512

Acquired Midstates through a merger; combined company portfolio includes CA, E TX/N LA, S TX's Eagle Ford and OK's Mississippian Lime. (Completed; PSA announced May)

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Mid

8/6/19

Caliber Midstream Holdings LP; Triangle Petroleum Corp.; BlackRock Inc.

American Midstream Partners LP; ArcLight Capital Partners LLC

N/A

Purchased crude oil gathering and pipeline transportation system in McKenzie County, ND, serving Bakken shale producers within the Williston Basin.

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S&S

8/6/19

Drillinginfo Inc.

RigData; S&P Global Platts

N/A

Purchased RigData, a service provider supplying customers in North America with daily electronic reports on drilling permits, activity and rig locations in the US, GoM and Canada.

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S&S

8/6/19

Profire Energy Inc.

Midflow Services LLC

$6.5

Bought Millersburg, OH-based Midflow Services, which specializes in upstream and midstream oil and gas production equipment. (Closed Aug. 5)

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Source: HartEnergy.com