A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 3/29/21 | Denbury Inc. | Devon Energy Corp. | $20 |
Bought a nearly 100% working interest (approximately 83% net revenue interest) in the Big Sand Draw and Beaver Creek oil fields located in Freemont County, WY, with net production of about 2,800 boe/d (85% oil); includes two cash payments of $4 million each contingent on the price of WTI. (Closed March 3; PSA announced December 2020) |
| Renew | 3/31/21 | Enverus | Energy Acuity | N/A |
Acquired Denver-based provider of information and intelligence on renewable power and clean energy markets with a product suite that includes comprehensive and high-quality datasets covering power generation and grid infrastructure. |
| E&P | 3/31/21 | Harbour Energy Ltd; Chrysaor Holdings Ltd.; EIG Global Energy Partners | Premier Oil Plc | $2,700 |
Acquired Premier Oil through a reverse takeover set to create the British North Sea’s largest oil and gas producer; Premier’s approximately US$2.7 billion of total gross debt and certain hedging liabilities will be repaid and cancelled on completion. (Completed; PSA announced October 2020) |
| E&P | 3/31/21 | Surge Energy US Holdings Co. | Grenadier Energy Partners LLC; EnCap Investments LP; Kayne Anderson Capital Advisors LP | $420 |
Bought Midland Basin leasehold interest and producing wells in Howard County, TX, in the Permian covering approximately 18,010 net acres, an operated inventory of approximately 120 future drilling locations and average production of about 9,000 boe/d (75% oil). (Completed; PSA announced January 2021) |
| S&S | 4/1/21 | American Industrial Partners | Ingersoll Rand Inc. | $300 |
Purchased a majority interest (55%) in the high pressure solutions segment of Ingersoll Rand, which provides manufacturing, service and repair of high-pressure pumps and related consumables in the upstream oil and gas market. (Completed; PSA announced February 2021) |
| E&P | 4/1/21 | Earthstone Energy Inc. | Tracker Resource Development III LLC; Sequel Energy Group LLC; EnCap Investments LP | $126.5 |
To acquire privately held operated assets located in the Midland Basin comprising about 20,300 net acres (100% HBP, 100% operated) in Irion County, TX, 7,800 boe/d (21% oil / 59% liquids) current net production from 71 wells (30 horizontal / 41 vertical), an inventory of 49 Earthstone-identified horizontal Wolfcamp locations and a $153 MM PDP PV-10 with reserves of approximately 19.8 MMboe. |
| E&P | 4/1/21 | National Energy Services Reunited Corp. | Action Energy Co. WLL | $50 |
To buy specific oilfield service lines of Action Energy, one of the leading indigenous oilfield services companies in Kuwait with multiple oilfield services contracts across both drilling and production operations. (Expected to close 2Q 2021) |
| E&P | 4/1/21 | Pioneer Natural Resources Co. | DoublePoint Energy LLC; Double Eagle Energy Holdings LLC; FourPoint Energy LLC | $6,400 |
To acquire the leasehold interests and related assets of DoublePoint Energy covering roughly 97,000 net acres in the Midland Basin in a cash and stock transaction that includes the assumption of $900 MM of debt and liabilities. (Expected to close 2Q 2021) |
| Mid | 4/5/21 | KKR & Co. Inc. | Sempra Energy | $3,370 |
To buy 20% stake in new Sempra Energy business platform, Sempra Infrastructure Partners. |
| S&S | 4/5/21 | NOW Inc. | GR Energy Services | N/A |
Purchased substantially all of the assets used in connection with GR Energy Services’ Flex Flow business, predominantly relating to the rental, sale and service of surface-mounted horizontal pumping systems and horizontal jet pumping systems. (Completed; PSA announced March 2021) |
| E&P | 4/5/21 | Whitecap Resources Inc. | Kicking Horse Oil & Gas Ltd.; Quantum Energy Partners | CA$300 |
To buy Calgary, Alberta-based Kicking Horse, a portfolio company of Quantum Energy Partners with properties in the Western Canadian Sedimentary Basin focused in the liquids-rich fairway of the Alberta Montney, in a stock-and-cash deal. (Expected to close by May 31) |
| E&P | 4/6/21 | ARC Resources Ltd. | Seven Generations Energy Ltd. | CA$2,700 |
Acquired Calgary, Alberta producer Seven Generations; includes 528,000 net acres in the Montney Shale with 180-185 Mboe/d of 2021 production. (Completed; PSA announced February 2021) |
| E&P | 4/6/21 | Northern Oil and Gas Inc. | Reliance Industries Ltd. | $250 |
Acquired a 27% blended WI and 64,000 net acres in the Marcellus Shale of the Appalachian Basin in SW PA; assets were producing approximately 120 MMcfe/d of natural gas at the effective date of July 1, 2020 net to Northern. (Completed; PSA announced February 2021) |
| Renew | 4/7/21 | Buckeye Partners LP; Nala Renewables | Swift Current Energy | N/A |
To buy majority ownership in Boston-based Swift Current, a North American clean energy development and investment platform. |
| Renew | 4/7/21 | Rice Acquisition Corp.; Archaea Energy LLC | Aria Energy LLC | $1,030 |
To form Archaea Energy to focus on renewable natural gas and landfill gas emissions through a business combination of Aria Energy and Archaea. (Expected to close 3Q 2021) |
| Renew | 4/8/21 | Atlantica Sustainable Infrastructure Plc | Undisclosed | $196.5 |
To acquire a 49% interest in a 596 MW portfolio of four wind assets located in IL, TX, OR and MN. (Expected to close 3Q 2021) |
| E&P | 4/8/21 | Enerplus Corp. | Hess Corp. | $312 |
To acquire 78,700 net acres in Dunn County, ND, in the Bakken consisting of largely undeveloped, 100% HBP acreage, about 6,000 boe/d (76% oil, 10% NGL & 14% natural gas) of production and total 230 net undrilled inventory; includes 62.7 MMboe of proved plus probable reserves. (Expected to close May) |
| Renew | 4/8/21 | Greenbacker Renewable Energy Co. LLC | ReneSolar Power | N/A |
Bought 10 MWdc portfolio of pre-operational solar projects consisting of three ground-mounted commercial distributed generation sites in UT. |
| Mid | 4/9/21 | EIG Global Energy Partners | Saudi Aramco | $12,400 |
To buy a 49% stake in newly formed Aramco Oil Pipelines Co., with rights to 25-years of tariff payments for oil transported through Aramco’s crude oil pipeline network. |
| E&P | 4/12/21 | Infinity Energy Resources Inc. | Core Energy LLC | $0.9 |
Purchased 100% WI in a leasehold containing current oil and gas production and mineral rights in a proven basin in the Central KS Uplift geological formation covering approximately 11,000 acres. |
| S&S | 4/13/21 | Hellman & Friedman LLC | Enverus; Genstar Capital LLC | N/A |
Purchased a majority stake in Austin, TX-based energy data analytics and SaaS technology company Enverus; Genstar Capital will remain a significant shareholder following the transaction. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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