A&D DEAL SHEET
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|
Sector |
Date Announced |
Buyer |
Seller |
Value (US$MM) |
Comments |
|
S&S |
4/30/19 |
CSL Capital Management LP; The Carlyle Group LP |
Weatherford International Plc |
206 |
Bought Weatherford’s laboratory and geological analysis business, including personnel and associated contracts. (Completed; PSA announced October 2018) |
|
S&S |
4/30/19 |
Excellence Logging |
Weatherford International Plc |
50 |
Purchased Weatherford's surface data logging business. (Completed; PSA announced December 2018) |
|
E&P |
4/30/19 |
Faroe Petroleum Plc; DNO ASA |
Equinor ASA |
N/A |
Acquired assets in a balanced asset swap in the Norwegian Sea and the North Sea region of the Norwegian Continental Shelf. (Completed; PSA announced December 2018) |
|
Down |
5/1/19 |
Chevron Corp. |
Petróleo Brasileiro SA (Petrobras) |
350 |
Acquired all the outstanding shares and equity interests of Pasadena Refining System, which includes the refinery in TX, and PRSI Trading. (Completed; PSA announced Jan. 30) |
|
Mid |
5/1/19 |
EagleClaw Midstream Ventures LLC; Blackstone Energy Partners LP; I Squared Capital |
PDC Energy Inc. |
182 |
To buy PDC’s gas-related midstream assets in the Delaware Basin within the W TX Permian. (Expected to close mid-2019) |
|
Mid |
5/1/19 |
WaterBridge Resources LLC; Five Point Energy LLC |
PDC Energy Inc. |
125 |
To buy PDC’s water-related midstream assets in the Delaware Basin within the W TX Permian. (Expected to close mid-2019) |
|
E&P |
5/1/19 |
Wintershall DEA |
Wintershall AG; DEA Deutsche Erdoel AG; BASF AG; LetterOne Group |
N/A |
Merged oil and gas businesses into new company called Wintershall DEA set to be the largest European E&P company. (Completed; PSA announced September 2018) |
|
Mid |
5/2/19 |
DTE Energy Co. |
AltaGas Ltd. |
275.3 |
To buy AltaGas subsidiary WGL Midstream's entire 30% indirect equity interest in the Stonewall Gas Gathering System, which transports natural gas from the Marcellus Shale in WV. |
|
S&S |
5/2/19 |
TGS-NOPEC Geophysical Co. ASA |
Spectrum ASA |
422 |
To acquire Norwegian multiclient seismic data provider with offices in Norway, the UK, US, Brazil, Egypt, Australia, Indonesia and Singapore. (Expected to close 3Q 2019) |
|
E&P |
5/2/19 |
Undisclosed |
California Resources Corp. |
235 |
Acquired 50% of CRC WI and operatorship in certain zones in the Lost Hills Field in CA's San Joaquin Basin; includes 200-well development program to be drilled through 2023. |
|
E&P |
5/6/19 |
Amplify Energy Corp. |
Midstates Petroleum Co. Inc. |
N/A |
To acquire Midstates through a merger; combined company portfolio includes CA, E TX/N LA, S TX's Eagle Ford and OK's Mississippian Lime. (Expected to close 3Q 2019) |
|
E&P |
5/6/19 |
Ensign Natural Resources LLC; Warburg Pincus LLC; Kayne Anderson Capital Advisors LP |
Pioneer Natural Resources Co. |
475 |
Bought Pioneer’s Eagle Ford Shale assets comprising roughly 59,000 net acres in S TX with 14,000 boe/d of average net production during 4Q 2018; comprised of $25 MM at closing and $450 MM contingent payments. |
|
E&P |
5/6/19 |
Undisclosed |
Abraxas Petroleum Corp. |
15.5 |
To purchase certain nonoperated properties located in the Williston Basin in ND; represents roughly 5% of Abraxas' current Bakken daily production of 7,000 boe/d. |
|
Source: Hart Energy |
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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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