A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Mid | 7/27/20 | CNX Resources Inc. | CNX Midstream Partners LP | $357 |
To purchase the remaining public stake, comprising about 42.1 million outstanding common units, of CNX Midstream Partners, which has assets in the Appalachian Basin in PA and WV. (Expected to close 4Q 2020 |
| E&P | 7/27/20 | Lukoil | Cairn Energy Plc | $400 |
To purchase 40% interest in the Rufisque, Sangomar and Sangomar Deep contract area offshore Senegal in W Africa. |
| E&P | 7/27/20 | Pegasus Resources LLC; EnCap Investments LP | Black Stone Minerals LP | $95.5 |
Purchased a 57% undivided interest across parts of the Delaware Basin and a 32% undivided interest across parts of the Midland Basin position in the Permian. (Completed; PSA announced June 2020) |
| E&P | 7/27/20 | Undisclosed | Black Stone Minerals LP | $54.5 |
Bought mineral and royalty interests in specific tracts in Midland County, TX, in the Permian Basin. (Completed; PSA announced June 2020) |
| S&S | 7/28/20 | KLX Energy Services Holdings Inc. | Quintana Energy Services Inc. | N/A |
Acquired Quintana in an all-stock merger to form company providing production, completion and drilling solutions in all major US onshore oil and gas basins. (Completed; PSA announced May 2020) |
| E&P | 7/28/20 | Undisclosed | Riviera Resources Inc. | $26.5 |
To buy interest in N LA properties, consisting of about 100 wells averaging 16 MMcfe/d of net production in 2Q 2020. (Expected to close 3Q 2020) |
| Mid | 7/29/20 | Solaris Water Midstream LLC | Concho Resources Inc. | N/A |
Formed expanded JV extending and increasing scope of long-term produced water management agreement in northern Delaware Basin to include all of Concho’s acreage in Eddy and Lea counties, NM. |
| E&P | 7/29/20 | Tokyo Gas Co. Ltd. | Castleton Resources LLC; Castleton Commodities International LLC | N/A |
To acquire a majority stake in Castleton Resources by increasing its ownership in the Houston-based E&P company to about 70% from 46%. (Expected to close August) |
| E&P | 7/31/20 | National Fuel Gas Co. | Royal Dutch Shell Plc | $541 |
Bought Shell's Appalachia shale position of upstream and midstream assets; includes roughly 450,000 net leasehold acres across PA with about 350 producing Marcellus and Utica wells located in Tioga County. (Completed; PSA announced May 2020) |
| E&P | 7/31/20 | Northern Oil and Gas Inc. | Undisclosed | $5.9 |
To purchase from multiple counterparties nonoperated interests producing properties and wells in process across 400 acres within the core of the Williston Basin in McKenzie, Mountrail and Dunn counties, ND, primarily operated by ConocoPhillips, Continental Resources and WPX Energy. (Expected to close September) |
| E&P | 8/3/20 | Castleton Resources LLC; Castleton Commodities International LLC; Tokyo Gas Co. Ltd. | Range Resources Corp. | $335 |
To purchase the N LA Terryville Field asset covering about 140,000 net acres with stacked pay potential for the Lower Cotton Valley and producing about 160 MMcfe/d; agreement includes an additional $90 MM contingent on future commodity prices. (Expected to close August) |
| Renewable | 8/3/20 | Royal Dutch Shell Plc | Select Carbon Pty Ltd. | N/A |
To buy environmental services firm Select Carbon, which specializes in developing carbon farming and manages a portfolio of over 70 projects encompassing over 9 million hectares across Australia. (Expected to close year-end 2020) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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