Also this past week, Devon Energy agreed to form a midstream partnership with QL Capital Partners to build out its Cotton Draw gathering system in the Delaware Basin. (Source: Hart Energy/Shutterstock.com)
A&D DEAL SHEET
|
|||||
|
Sector |
Date |
Buyer |
Seller |
Value |
Comments |
|
E&P |
11/4/19 |
Contango Oil & Gas Co. |
White Star Petroleum LLC |
$132.5 |
Acquired the assets of White Star and certain affiliates comprising about 314,000 net acres in OK's Stack, Anadarko Basin and Cherokee plays with average production of 15,000 boe/d. (Completion; PSA announced September 2019) |
|
E&P |
11/4/19 |
MOL Plc |
Chevron Corp. |
$1,570 |
To buy Chevron's stake in a giant oil field in Azerbaijan; includes stakes in the BP-operated field in the Caspian Sea and a pipeline transporting crude in the Mediterranean. |
|
S&S |
11/4/19 |
Premier Oilfield Group LLC; Quantum Energy Partners |
Global Drilling Support |
N/A |
To buy Houston, TX-based independent provider of tailored, “one-stop-shop” aftermarket solutions for both third-party. (Expected to close 1Q 2020) |
|
S&S |
11/4/19 |
SitePro Inc. |
Integrated Control Solutions |
N/A |
Purchased the Midland, TX-based provider of automation systems and software for the oil and gas industry specializing in saltwater disposal automation, fresh and brine stations and similar fluid management facilities. |
|
Mid |
11/5/19 |
QL Capital Partners LP |
Devon Energy Corp. |
$100 |
Formed a midstream JV to fund the build out of the Cotton Draw gathering system and compression assets within the Delaware Basin in NM. |
|
E&P |
11/5/19 |
Laredo Petroleum Inc. |
Cordero Energy Resources |
$130 |
To acquire 7,360 net acres (96% operated) and 750 net royalty acres of largely undeveloped leasehold within the Midland Basin in Howard County, TX. (Expected to close in December) |
|
Mid |
11/6/19 |
Gravity Oilfield Services Inc.; Clearlake Capital Group LP |
On Point Oilfield Holdings LLC; White Dear Energy LP |
N/A |
To buy Austin, TX-based On Point, a contracted produced water midstream company focused on gathering and disposal operations in the Permian's Midland Basin. |
|
Mid |
11/6/19 |
Kinder Morgan Inc. |
Southcross Energy Partners LP |
$76 |
Purchased natural gas pipeline assets owned by Southcross Energy, including the Corpus Christi Pipeline Network and Bay City Lateral. |
|
Mid |
11/6/19 |
Magnolia Infrastructure Holdings LLC |
Southcross Energy Partners LP |
$31.5 |
Bought pipelines and related assets that Southcross Energy owns in Mississippi and Alabama. |
|
E&P |
11/6/19 |
Marathon Oil Corp. |
Rocky Creek Resources LLC; Boomtown Oil LLC; Juniper Capital Advisors LP; Delago Resources LLC |
$185 |
To acquire 18,000 contiguous and largely undeveloped net acres adjacent to Marathon's existing NE Eagle Ford leasehold; includes 7,000 net boe/d of current production and associated midstream infrastructure. (Expected to close Jan. 31) |
|
E&P |
11/6/19 |
Marathon Oil Corp. |
Undisclosed |
$106 |
To purchase about 40,000 net acres in Ward and Winkler counties, TX, establishing a new Delaware Basin oil play in the Permian. (Expected to close 4Q 2019) |
|
Mid |
11/6/19 |
Noble Energy Inc. |
Eastern Mediterranean Gas Co. |
$185 |
Purchased a 39% equity interest in the EMG Pipeline used to transport natural gas volumes into Egypt from the Tamar and Leviathan fields in Israel. |
|
E&P |
11/7/19 |
Repsol SA |
Equinor ASA |
$325 |
To buy Equinor’s 63% interest in its Eagle Ford JV with Repsol, covering 69,000 net acres in S TX; includes operatorship. |
|
E&P |
11/7/19 |
Repsol SA |
Equinor ASA |
N/A |
To acquire a 20% nonoperated interest in the Monument prospect that Equinor is drilling in the Northwest Walker Ridge area in the US GoM. |
|
E&P |
11/7/19 |
Undisclosed |
Diversified Gas & Oil Plc |
$10 |
Bought non-producing Appalachian Basin assets DGO recently acquired in Monroe County, OH. |
|
E&P |
11/7/19 |
Undisclosed |
Riviera Resources Inc. |
$18.5 |
To purchase interests in properties located in the Overton Field of E TX. (Expected to close 1Q 2020) |
|
Mid |
11/8/19 |
Starwood Energy Group Global LLC |
Third Coast Midstream LLC |
N/A |
To buy Third Coast Midstream's gas gathering infrastructure located within the Eagle Ford Shale in Lavaca County, TX; includes over 260 miles of natural gas gathering pipes and associated infrastructure. |
|
E&P |
11/8/19 |
Undisclosed |
Painted Pony Energy Ltd. |
C$45 |
Bought a 75% WI in 11,280 gross (8,460 net) acres in the NE British Columbia Montney. (Completed; PSA announced October 2019) |
|
E&P |
11/11/19 |
Ithaca Energy Ltd.; Delek Group Ltd. |
Chevron Corp. |
$2,000 |
Purchased the Chevron North Sea subsidiary and its assets, which includes interests in 11 producing fields offshore the UK; net production averaged 43,000 bbl/d of liquids and 133 MMcf/d of gas in 2018. (Completed; PSA announced May 2019) |
|
Mid |
11/12/19 |
Ironwood Midstream Energy Partners LLC; EnCap Flatrock Midstream LLC |
Twin Eagle Resource Management LLC |
N/A |
To purchase Twin Eagle’s Gardendale and Asherton gathering systems, spanning Dimmit and La Salle counties, TX, within the Eagle Ford Shale. (Expected to close December) |
|
E&P |
11/12/19 |
Kimbell Royalty Partners LP |
Buckhorn Resources LLC |
$31.8 |
To acquire 86,000 gross (400 net) royalty acres, 90% of which is located in the Eagle Ford Shale in La Salle and McMullen counties, TX, with current production about 270 boe/d (83% oil, 11% natural gas and 6% NGL). (Expected to close December) |
|
Mid |
11/12/19 |
Rattler Midstream LP; Oryx Midstream Services LLC; Stonepeak Infrastructure Partners Co. |
Reliance Gathering LLC |
$355 |
Acquired through a newly-formed JV to acquire Reliance Gathering; includes gathering system in the Permian's Northern Midland Basin. (Completed; PSA announced October 2019) |
|
Source: HartEnergy.com |
|||||
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
Recommended Reading
DNO Makes Another Norwegian North Sea Discovery
2024-12-17 - DNO ASA estimated gross recoverable resources in the range of 2 million to 13 million barrels of oil equivalent at its discovery on the Ringand prospect in the North Sea.
Wildcatting is Back: The New Lower 48 Oil Plays
2024-12-15 - Operators wanting to grow oil inventory organically are finding promising potential as modern drilling and completion costs have dropped while adding inventory via M&A is increasingly costly.
DNO Discovers Oil in New Play Offshore Norway
2024-12-02 - DNO ASA estimated gross recoverable resources in the range of 27 MMboe to 57 MMboe.
Freshly Public New Era Touts Net-Zero NatGas Permian Data Centers
2024-12-11 - New Era Helium and Sharon AI have signed a letter of intent for a joint venture to develop and operate a 250-megawatt data center in the Permian Basin.
Baker Hughes: US Drillers Keep Oil, NatGas Rigs Unchanged for Second Week
2024-12-20 - U.S. energy firms this week kept the number of oil and natural gas rigs unchanged for the second week in a row.
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.