Also, Denbury Resources recently agreed to sell stakes in its Texas oil fields to Israel’s Navitas. (Source: Hart Energy/Shutterstock.com)
Editor’s note: This chart includes transactions from further out than a week due to the recent holidays.
A&D DEAL SHEET
|
|||||
|
Sector |
Date |
Buyer |
Seller |
Value (US$MM) |
Comments |
|
E&P |
12/17/19 |
Kalnin Ventures LLC |
Devon Energy Corp. |
$770 |
To acquire Devon’s Barnett position, which includes over 320,000 gross acres and 4,200 producing wells in N TX that average 597 MMcfe/d of net production in 3Q 2019; proved reserves at YE 2018 were about 4 Tcfe. (Expected to close 2Q 2020) |
|
Mid |
12/17/19 |
Tallgrass Energy LP |
The Blackstone Group LP |
N/A |
To acquire remaining shares in Tallgrass not already own for $22.45 in cash per share; group led by Blackstone includes Enagas SA, GIC Private Ltd., NPS and USS. (Expected to close 2Q 2020) |
|
Mid |
12/18/19 |
Glencore Plc |
Ørsted AS |
N/A |
To purchase Ørsted’s LNG business consisting of a number of supply contracts. (Expected to close summer 2020) |
|
S&S |
12/19/19 |
Apergy Corp. |
Ecolab Inc. |
$4,400 |
To buy Ecolab’s Nalco Champion business in a combination forming ChampionX, headquartered in The Woodlands, TX with operations in over 55 countries. (Expected to close 2Q 2020) |
|
Mid |
12/19/19 |
Bison Oilfield Services LLC |
Gulfport Energy Corp. |
$100 |
To buy water infrastructure assets across Gulfport's Scoop position in Oklahoma; include the 15-year agreements plus $50MM contingency payment. (Expected to close January) |
|
E&P |
12/19/19 |
Undisclosed |
Gulfport Energy Corp. |
$29 |
To purchase certain nonoperated interests in the Utica Shale. (Expected to close year-end 2019) |
|
E&P |
12/19/19 |
Undisclosed |
Gulfport Energy Corp. |
$7 |
Bought certain ORRI associated with assets Gulfport held in the Bakken. (Closed Dec. 11) |
|
E&P |
12/20/19 |
Callon Petroleum Co. |
Carrizo Oil & Gas Inc. |
$2,700 |
Acquired Houston-based Carrizo, which has Permian Basin and Eagle Ford oil-weighted positions, in an all-stock transaction with assumption of $1.96 B net debt and preferred stock; companies amended terms on Nov. 14, 2019. (Completed; PSA announced July 2019) |
|
E&P |
12/20/19 |
Contango Oil & Gas Co. |
Juneau Oil & Gas LLC |
$6 |
Formed JV to develop certain offshore exploration prospects owned by Juneau in the US GoM; includes to right to acquire an interest in all of Juneau’s GoM prospects with consideration consisting of cash and stock. |
|
E&P |
12/20/19 |
Undisclosed |
Riviera Resources Inc. |
$34 |
To buy Riviera's interest in the Personville Field in E TX consisting of about 750 wells with average 3Q 2019 net production of roughly 28 MMcfe/d. (Expected to close 1Q 2020) |
|
E&P |
12/22/19 |
Total SA |
Apache Corp. |
N/A |
Formed JV explore and develop Block 58 offshore Suriname; includes 50% stake plus transfer of operatorship after first three exploration wells. |
|
E&P |
12/23/19 |
Navitas Petroleum US LLC |
Denbury Resources Inc. |
$50 |
To buy 50% WI in four SE TX oil fields consisting of Webster, Thompson, Manvel and East Hastings. (Expected to close early March) |
|
E&P |
12/30/19 |
Castleton Resources LLC; Castleton Commodities International LLC; Tokyo Gas Co. Ltd. |
Royal Dutch Shell Plc |
N/A |
Bought East Texas and North Louisiana Haynesville Shale assets comprised of about 55,000 net acres currently producing more than 100,000 cubic feet per day of natural gas. |
|
E&P |
12/30/19 |
Exxon Mobil Corp. |
Ministry of Petroleum Egypt |
N/A |
Purchased more than 1.7 million acres for oil and gas exploration offshore Egypt in the eastern Mediterranean; includes acreage in the North Marakia Offshore block in the Herodotus Basin and the North East El Amriya Offshore block in the Nile Delta. |
|
E&P |
1/7/20 |
Cona Resources Ltd.; Waterous Energy Fund |
Pengrowth Energy Corp. |
C$740 |
Purchased Calgary, Alberta-based oil and gas producer with long-life assets in the Western Canadian Sedimentary Basin; includes assumption of debt. (Completed; PSA announced November 2019) |
|
E&P |
1/7/20 |
Premier Oil Plc |
BP Plc |
$625 |
To buy interests in the Andrew area in the central UK North Sea and its nonoperating interest in the Shearwater Field. (Expected to close 3Q 2020) |
|
E&P |
1/7/20 |
Premier Oil Plc |
Dana Petroleum Ltd. |
$246 |
To purchase additional interests increasing its stake in the Tulmount UK North Sea gas project to 25%; includes up to $55 MM contingent payments. (Expected to close 3Q 2020) |
|
E&P |
1/7/20 |
Revolution Resources LLC; Mountain Capital Partners LP |
Jones Energy Inc. |
$201.5 |
Acquired Austin, TX-based Jones Energy, which has assets in the Anadarko Basin in OK and TX. (Completed; PSA announced December 2019) |
|
Source: HartEnergy.com |
|||||
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
Recommended Reading
Report: Will Civitas Sell D-J Basin, Buy Permian’s Double Eagle?
2025-01-15 - Civitas Resources could potentially sell its legacy Colorado position and buy more assets in the Permian Basin— possibly Double Eagle’s much-coveted position, according to analysts and media reports.
Diversified to Acquire Maverick, Enter Permian Basin in $1.3B Deal
2025-01-27 - Diversified Energy will acquire EIG’s Maverick Natural Resources, adding acreage that offsets Diversified’s core Western Anadarko position and Permian Basin assets in the northern Delaware.
US Energy Corp. Closes Divestiture of East Texas Assets
2025-01-07 - U.S. Energy Corp. said proceeds from the divestiture will be used to fund the company’s industrial gas project in Montana.
Constellation Energy Nearing $30B Deal for Calpine, Sources Say
2025-01-08 - Constellation Energy is nearing a roughly $30 billion deal to acquire power producer Calpine that could be announced as early as Jan. 13, sources familiar with the matter said.
Energy Trader Vitol Eyes $3B Sale of US Shale Producer, Sources Say
2025-03-27 - Global commodities trader Vitol is exploring a sale of its VTX Energy Partners business, in a deal that could value the U.S. shale oil and gas producer at as much as $3 billion, including debt, people familiar with the matter said.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.