A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 7/12/21 | Penn Virginia Corp. | Lonestar Resources US Inc. | $370 |
To acquire Fort Worth, TX-based Eagle Ford Shale producer Lonestar Resources in an all-stock transaction including the assumption of $236 MM of net debt. (Expected to close 2H 2021) |
| Mid | 7/13/21 | Plains All American Pipeline LP | Oryx Midstream Services LLC; Stonepeake Infrastructure Partners Co. | N/A |
To acquire Midland, TX-based Oryx Midstream through a cashless merger transaction of Oryx with a vast majority of Plains Permian Basin assets forming Plains Oryx Permian Basin, a debt-free JV. (Expected to close 4Q 2021) |
| E&P | 7/15/21 | Cardinal Energy Ltd. | Venturion Oil Ltd. | CA$47.5 |
Acquired privately held Venturion Oil, which has assets comprising about 2,400 boe/d of production (~83% oil) focused in central Alberta and other minor properties. (Completed; PSA announced June 2021) |
| E&P | 7/15/21 | Tourmaline Oil Corp. | Black Swan Energy Ltd. | CA$1,100 |
Purchased privately owned Montney operator Black Swan Energy, adding 230,000 net acres of Montney rights and over 50,000 boe/d of production. (Completed; PSA announced June 2021) |
| Mid | 7/16/21 | Kinder Morgan Inc. | Kinetrex Energy | $310 |
To purchase the Indianapolis-based leading supplier of LNG in the Midwest and a rapidly growing player in producing and supplying renewable natural gas. (Expected to close 3Q 2021) |
| E&P | 7/19/21 | PrairieSky Royalty Ltd. | Spur Petroleum Ltd. | CA$155 |
Purchased a 5% gross ORRI on over 76,000 acres in the Clearwater play in the core Marten Hills area with approximately 500 boe/d (96% oil) of current royalty production. |
| E&P | 7/20/21 | Earthstone Energy Inc. | Tracker Resource Development LLC; Sequel Energy Group LLC; EnCap Investments LP | $126.5 |
Acquired 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. (Completed; PSA announced April 2021) |
| E&P | 7/21/21 | Undisclosed | Whiting Petroleum Corp. | $187 |
To buy Whiting’s entire D-J Basin position, including midstream assets, located in Weld County, CO; includes 67,278 net acres with daily production of approximately 7,100 boe/d (51% oil). (Expected to close 3Q 2021) |
| E&P | 7/21/21 | Whiting Petroleum Corp. | Undisclosed | $271 |
To acquire 8,752 net acres in Mountrail County, ND, adjacent to existing operations in the Sanish Field within the Williston Basin, with net daily production of approximately 4,200 boe/d (80% oil). (Expected to close 3Q 2021) |
| E&P | 7/22/21 | Undisclosed | MEG Energy Corp. | CA$44 |
Purchased industrial lands near Edmonton, Alberta, considered noncore too MEG, in a cash transaction. |
| S&S | 7/23/21 | Cathedral Energy Services Ltd. | Precision Drilling Corp. | CA$6.4 |
Bought Precision’s directional drilling business comprising operating assets and personnel such as an operations facility in Nisku, Alberta; includes strategic marketing alliance expected to produce new US and Canadian customer opportunities. |
| E&P | 7/26/21 | Lime Rock Resources LP | Undisclosed | $508.3 |
To buy oil and gas properties in the Delaware Basin located primarily in Loving County, TX, producing 15,163 boe/d as of the April 1 transaction effective date. (Expected to close Sept. 30) |
| S&S | 7/27/21 | Park Energy Services LLC; Rock Hill Capital | Archrock Inc. | N/A |
Purchased certain lower horsepower operating assets set to Park’s strategic position in S TX and PA. |
| Renew | 7/27/21 | Shell New Energies US LLC; Royal Dutch Shell Plc | Inspire Energy Capital LLC | N/A |
To buy US-based renewable energy residential retailer currently serving approximately 235,000 residential customers in DE, IL, MA, MD, NJ, NY, OH, PA and Washington DC. (Expected to close 4Q 2021) |
| E&P | 7/28/21 | Spartan Delta Corp. | Velvet Energy Ltd. | CA$743.3 |
To purchase the privately held light-oil Montney producer with operations primarily in the Gold Creek, Karr and Pouce Coupe areas of NW Alberta. (Expected to close by Aug. 31) |
| Renew | 7/29/21 | Buckeye Partners LP | Belltown Power Texas LLC | N/A |
Purchased a solar project under development in Hill County, TX, south of Dallas, designed for 180 MW of planned capacity. |
| E&P | 7/29/21 | Occidental Petroleum Corp. | Colgate Operating LLC | $508 |
Acquired roughly 25,000 net acres in the Permian in Reeves and Ward counties, TX, within the southern Delaware Basin with current production of approximately 10,000 boe/d from about 360 active wells. (Completed; PSA announced June 2021) |
| Mid | 8/3/21 | HollyFrontier Corp.; Holly Energy Partners LP | Sinclair Oil Corp. | $2,600 |
To purchase Sinclair Oil’s refining, pipeline and storage assets in two deals forming HF Sinclair Corp.; includes assets in the Rocky Mountain and Midcontinent regions plus the DINO brand. (Expected to close mid-2022) |
| E&P | 8/4/21 | Callon Petroleum Co. | Primexx Energy Partners Ltd. | $788 |
To acquire the private Permian operator in a cash-and-stock transaction; includes contiguous footprint of 35,000 net acres in Reeves County, TX, within the Delaware Basin and net production of about 18,000 boe/d (61% oil). (Expected to close 4Q 2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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