A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 3/7/22 | Oasis Petroleum Inc. | Whiting Petroleum Corp. | $6,000 |
To combine and in exchange Whiting shareholders will receive 0.5774 shares of Oasis common stock and $6.25 in cash for each share of Whiting common stock owned; combined company will have an enterprise value of roughly $6 B and operate 972,000 net acres with production of 167,800 boe/d in the Williston Basin. (Expected to close 2H 2022) |
| E&P | 3/7/22 | WildFire Energy LLC | MD America Energy LLC | N/A |
Acquired the Fort Worth, TX-based private E&P company with approximately 45,000 net acres, 200 operated wells and 3,200 boe/d (85% liquids) of production in the E TX Eagle Ford. |
| E&P | 3/8/22 | Greylock Energy LLC | Undisclosed | N/A |
Acquired roughly 290,000 gross acres and other assets, including 1,400 producing wells, in the Uinta and Green River basins in UT and WY. |
| E&P | 3/9/22 | Chesapeake Energy Corp. | Chief Oil & Gas LLC; Tug Hill Inc. | $2,600 |
Acquired Marcellus operator Chief E&D Holdings LP and associated nonoperated interests held by affiliates of Tug Hill in exchange for $2B cash and about 9.44MM commons hares; includes 113,000 net acres producing 835 MMcf/d. (Completed; PSA announced January 2022) |
| E&P | 3/9/22 | Petro-Hunt LLC |
Admiral Permian Resources LLC; Ares Management Corp. |
N/A |
Acquired predominantly operated oil and gas production and 21,430 net acres of leasehold in northwest Reeves and northeast Culberson Cos., TX, in the Delaware Basin of the Permian; current gross operated production is approximately 7,000 bbl/d of oil and 100 MMcf/d of gas. |
| S&S | 3/9/33 | Tidewater Inc. | Swire Pacific Offshore Holdings Ltd. | $190 |
To acquire all of the outstanding shares of Swire Pacific Offshore, a subsidiary of Swire Pacific Ltd., creating industry’s largest fleet of OSVs. (Expected to close 2Q 2022) |
| E&P | 3/11/22 | Azule Energy | BP Plc; Eni SpA | N/A |
Formed new 50/50 independent energy company Azule Energy through the combination of their oil and gas operations in Angola; expected to be Angola’s largest producer with stakes in 16 licenses and in the Angola LNG JV. |
| E&P | 3/14/22 | Silver Hill Energy Partners III LLC | Pine Wave Energy Partners LLC | N/A |
To buy certain Haynesville assets located in Caddo Parish, LA and Harrison and Panola Cos., TX, consisting of approximately 12,500 net acres with ownership interests in 10 operated wells with 100 MMcf/d. (Expected to close 2Q 2022) |
| Mid | 3/14/22 | Williams Cos. Inc. | Trace Midstream; Quantum Energy Partners | $950 |
To acquire the Haynesville gathering and processing assets of Trace Midstream, a portfolio company of Quantum Energy Partners; includes long-term capacity commitment for LEG project from Rockcliff Energy. (Expected to close 2Q 2022) |
| Mid | 3/17/22 | Targa Resources Corp. | Southcross Energy Operating LLC | $200 |
To acquire Southcross Energy Operating LLC and its subsidiaries in S TX spanning 24 counties in the Eagle Ford Shale and upper Gulf Coast area. (Expected to close 2Q 2022) |
| S&S | 3/21/22 | Baker Hughes Co. | Altus Intervention | N/A |
To buy Altus Intervention, a leading international provider of well intervention services and downhole oil and gas technology headquartered in Norway with operations in 11 countries and 1,200 employees globally. (Expected to close 2H 2022) |
| Mid | 3/21/22 | Whiptail Midstream LLC | DJR Energy LLC | N/A |
Purchased the oil, gas and water gathering assets of DJR Energy in the Gallup oil window of the San Juan Basin; transaction includes long-term dedication of its leasehold acreage for oil, natural gas and water production. |
| Mid | 3/22/22 | ArcLight Capital Partners LLC; Cutlass Energy Partners LLC | Undisclosed | N/A |
To buy a natural gas gathering system with up to 1.2 Bcf/d capacity in the Haynesville shale basin of LA and TX through affiliate Saber Midstream LLC; to be managed by Cutlass Energy Partners. |
| E&P | 3/23/22 | Waldorf Production Ltd. | MOL Group | $305 |
To purchase MOL’s entire upstream portfolio in the U.K. including stakes in Catcher Field, Scolty & Crathes, Scott a number of other licenses with proved and probable reserves of 14.9 million boe at YE 2021. (Expected to close 2H 2022) |
| S&S | 3/24/22 | Project Canary | Aeris Technologies Inc. | N/A |
Purchased the California Bay Area-based provider of laser-based gas analyzers and leak detection systems expanding its services beyond oil and gas. |
| E&P | 3/28/22 | Vermilion Energy Inc. | Leucrotta Exploration Inc. | CA$477 |
To acquire Leucrotta, a Canadian publicly listed Montney-focused oil and natural gas exploration and development company with lands located in the Mica area of NE BC and NW Alberta. (Expected to close May) |
| E&P | 3/30/22 | Crescent Energy Co.; KKR & Co. Inc. | Verdun Oil Co.; EnCap Investments LP | $690 |
Bought in an all-cash transaction 145,000 contiguous net acres (>85% HBP) and over 400 producing vertical and horizontal wells, primarily located in Duchesne and Uintah counties, UT. (Completed; PSA announced February 2022) |
| S&S | 4/1/22 | Liberty Lift Solutions LLC | Elite Lift Solutions LLC; Powder River Hydraulics LLC | N/A |
Acquired the assets of Elite Lift Solutions LLC and Powder River Hydraulics LLC, with facilities in Dickinson and Williston, ND, as well as Gillette, WY. |
| Mid | 4/4/22 | ARM Energy Holdings LLC | NextEra Energy Partners LP | $203 |
Bought Monument Pipeline LP, a Houston-based natural gas transportation system with approximately 156 miles of pipeline originating at the Katy Hub, with connections to the Houston Ship Channel, La Porte and League City market areas plus servicing several residential city gates of the Greater Houston metroplex. |
| E&P | 4/4/22 | Evolution Petroleum Corp. | Exaro Energy III LLC | $26.2 |
Acquired nonoperated natural gas assets in the Jonah Field in Sublette County, WY; includes working interest in 648 producing wells and approximately 1,040 net acres producing about 14.2 MMcfe/d. (Completed; PSA announced February 2022) |
| E&P | 4/5/22 | W&T Offshore Inc. | Undisclosed | N/A |
Purchased the remaining working interests in three federal shallow-water fields (Ship Shoal 230, South Marsh Island 27/Vermilion 191 & South Marsh Island 73) within the central region of the US GoM the W&T had initially acquired an interest in early 2022. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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