A&D DEAL SHEET |
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|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 4/9/20 | Diversified Gas & Oil Plc | Carbon Energy Corp. | $110 |
To acquire certain conventional Appalachian upstream and midstream assets within DGO's existing WV, KY and TN footprint; includes mature, low decline net daily production in 2019 of 9,900 boe (97% natural gas) from 6,500 net operated wells. (Signed conditional PSA) |
| S&S | 4/13/20 | Geolog International BV | Nabors Industries Ltd. | N/A |
Acquired all of Nabors’ mudlogging assets in the US (previously known as EPOCH). |
| E&P | 4/13/20 | SilverBow Resources Inc. | Undisclosed | N/A |
Purchased private entity with Eagle Ford assets adding 10 MMcf/d of net natural gas production directly offsetting the SilverBow’s existing assets in the western portion of the shale play. |
| E&P | 4/13/20 | Undisclosed | SilverBow Resources Inc. | N/A |
To buy certain Powder River Basin assets including ORRI in 118 net acres across Campbell, Converse and Niobrara Cos., WY. (Expected to close 2Q 2020) |
| E&P | 4/14/20 | Kalnin Ventures LLC | Devon Energy Corp. | $860 |
Announced amended terms for the acquisition of 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; amended terms made April 14 includes lower cash closing payment and addition of contingency payments. (Expected to close year-end 2020) |
| E&P | 4/14/20 | Undisclosed | Ring Energy Inc. | $31.5 |
To buy Ring's Delaware Basin acreage consisting of about 20,000 net acres in Culberson and Reeves Cos., TX, currently producing 908 boe/d. (Expected to close in 60 days) |
| E&P | 4/16/20 | BCE-Mach LLC; Mach Resources LLC; Bayou City Energy Management LLC | Alta Mesa Resources Inc.; Kingfisher Midstream LLC | $220 |
Bought substantially all of the assets of Alta Mesa Resources and its midstream subsidiary, Kingfisher Midstream, through bankruptcy sale processes involving a renegotiation following oil price crash; includes 130,000 net-acre OK Stack Play position (90% HBP) and 30,000 boe/d of production (67% liquids). (Completed April 9; PSA announced January 2020) |
| E&P | 4/16/20 | Empire Petroleum Corp. | Pardus Oil & Gas LLC; Pardus Oil & Gas Operating GP LLC | N/A |
Acquired producing E. TX Eagle Ford assets and related midstream assets located in Houston, Madison, and Leon counties; includes about 30,397 HBP acreage with about 400 boe/d of production. |
| E&P | 4/16/20 | MOL Plc | Chevron Corp. | $1,570 |
Bought 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. (Completed; PSA announced November 2019) |
| E&P | 4/20/20 | Kimbell Royalty Partners LP | Springbok Energy Partners LLC; Natural Gas Partners LP | $123.1 |
Acquired the mineral and royalty interests held by NGP-backed Springbok and its affiliates, adding interests in the Permian's Delaware Basin, Eagle Ford Shale, Bakken, Haynesville, Stack Play and D-J Basin; consideration comprised of $95 MM cash and Kimbell stock. (Completed; PSA announced January 2020) |
| E&P | 4/23/20 | Total SA | Tullow Oil Plc | $575 |
To buy Tullow’s roughly 33.3% stake in the Uganda Lake Albert onshore development project including the East African Crude Oil Pipeline. (Expected to close 2H 2020) |
| E&P | 4/27/20 | Hilcorp Energy Co. | BP Plc | $5,600 |
Renegotiated structure and phasing of payments for purchase of BP’s entire upstream and midstream business in AK; includes 26% WI and operatorship of Prudhoe Bay plus the Trans Alaska Pipeline System. (Expected to close June) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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