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.
Recommended Reading
ConocoPhillips to Sell Interests in GoM Assets to Shell for $735MM
2025-02-21 - ConocoPhillips is selling to Shell its interests in the offshore Ursa and Europa fields in the Gulf of Mexico for $735 million.
KNOT Offshore Partners Conducts Shuttle Tanker Asset Swap
2025-03-02 - KNOT Offshore Partners LP subsidiary KNOT Shuttle Tanker AS is trading shuttle tanker assets with Knutsen NYK Offshore Tankers AS, the company said Feb. 27.
Martin Midstream Terminates Merger Agreement Following Pushback
2024-12-29 - Martin Midstream Partners will continue operating as a standalone publicly traded company following termination of its deal to merge with Martin Resource Management Corp.
Pembina Closes $290MM Deal for Stake in Whitecap’s NatGas Facility
2025-01-02 - Pembina Gas Infrastructure closed a CA$420 million transaction to acquire interests in Whitecap Resources’ natural gas processing facility in Alberta, Canada.
Minerals M&A to Heat Up in ‘25 with $4B Diamondback Sale–KeyBanc
2025-01-21 - KeyBanc analysts expect an “imminent” Diamondback Energy dropdown to Viper Energy and at least a couple of $500 million deals by public mineral and royalty companies in 2025, with Sitio Royalties a likely acquirer.
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.