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 |
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For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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