A&D DEAL SHEET
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Sector |
Date |
Buyer |
Seller |
Value |
Comments |
|
E&P |
7/15/19 |
BCE-Mach II LLC; Mach Resources LLC; Bayou City Energy Management LLC |
Undisclosed |
N/A |
To buy producing properties within the Western Anadarko Basin spanning Beckham, Custer, Dewey, Roger Mills and Washita counties, OK, and Hemphill and Roberts counties, TX. (Expected to close September) |
|
E&P |
7/15/19 |
BCE-Mach II LLC; Mach Resources LLC; Bayou City Energy Management LLC |
Undisclosed |
N/A |
To buy producing properties within the Western Anadarko Basin across 32 OK counties and 7 TX counties. (Expected to close September) |
|
E&P |
7/15/19 |
Callon Petroleum Co. |
Carrizo Oil & Gas Inc. |
3,200 |
To acquire Houston-based Carrizo in an all-stock transaction including assumption of $1.96 B net debt and preferred stock; includes Permian Basin and Eagle Ford oil-weighted positions. (Expected to close 4Q 2019) |
|
S&S |
7/15/19 |
Drilling Tools International Inc.; Hicks Equity Partners LLC |
WellFence LLC |
N/A |
Acquired Houston-based WellFence, which provides patented data automation systems and credentialed wellsite access services for oil and gas drilling, completion and production locations. |
|
E&P |
7/16/19 |
Comstock Resources Inc. |
Covey Park Energy LLC; Denham Capital Management LP |
2,200 |
Acquired the Dallas-based privately held independent backed by Denham Capital with properties in the Haynesville and Bossier shale plays of N LA and E TX; includes assumption of debt and retirement of preferred units. (Completed; PSA announced June 10) |
|
S&S |
7/17/19 |
Arcline Investment Management LP |
Baker Hughes, a GE company, LLC |
N/A |
To acquire the reciprocating compression division of Baker Hughes that which makes and services industrial engines and compressors built into natural gas pipelines; includes TX and KS facilities. |
|
E&P |
7/17/19 |
Undisclosed |
Sundance Energy Australia Ltd. |
30 |
To purchase Dimmit County, TX assets comprised of 19 gross producing wells in the Eagle Ford Shale an about 6,100 net acres; averaged 1,051 boe/d sales volumes in 1Q 2019. (Expected to close September) |
|
E&P |
7/18/19 |
Kimmeridge Energy Management Co. LLC |
Desert Royalty Co. LLC |
N/A |
To acquire Delaware Basin minerals position in merger forming Desert Peak Minerals which will have over 70,000 net royalty acres on a 1/8th royalty-adjusted basis across W TX and SE NM. |
|
E&P |
7/18/19 |
Undisclosed; Presidio Petroleum LLC/Morgan Stanley Energy Partners |
Apache Corp. |
612 |
Purchased in two, separate transactions closing May and July western Anadarko Basin assets in KS, OK and TX representing Apache's exit from the Scoop/Stack play; production averaged 33 Mboe/d in 3Q 2019 (about 90% natgas and NGL). (Presidio was buyer in July transaction) |
|
E&P |
7/19/19 |
Franco-Nevada Inc. |
Range Resources Corp. |
300 |
To buy a 2% proportionately reduced ORRI in 350,000 net surface acres in SW Appalachia and applies to existing for future Marcellus, Utica and Upper Devonian development; Franco-Nevada is one of two buyers. (Expected to close July) |
|
E&P |
7/19/19 |
Undisclosed |
Range Resources Corp. |
300 |
To buy a 2% proportionately reduced ORRI in 350,000 net surface acres in SW Appalachia and applies to existing for future Marcellus, Utica and Upper Devonian development; Franco-Nevada is one of two buyers. (Expected to close July) |
|
E&P |
7/19/19 |
Undisclosed |
Range Resources Corp. |
34 |
Purchased certain non-producing acreage in NW Armstrong County, PA, within the Appalachian Basin that included about 20,000 acres. (Closed June) |
|
E&P |
7/23/19 |
Colony HB2 Energy; Colony Capital Inc. |
California Resources Corp. |
500 |
Formed JV to develop Elk Hills Field located within the San Joaquin Basin in Kern County, CA; initially commitment of $320 MM could be increased to $500 MM, subject to mutual agreement. |
|
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.
Emily Patsy can be reached at epatsy@hartenergy.com.
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