A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| 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) |
| E&P | 7/28/21 | Zephyr Energy Plc | Utah School and Institutional Trust Lands Administration | N/A |
Purchased 12,260 leased acres in the Paradox Basin located on Utah School and Institutional Trust Lands Administration lands. |
| 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) |
| Mid | 8/2/21 | Sunoco LP | NuStar Energy LP | $250 |
To purchase seven storage terminals in the Northeast region of IL, MD, NJ, VA and Washington, D.C., and one in FL. (Expected to close 4Q 2021) |
| S&S | 8/4/21 | NexTier Oilfield Solutions Inc. | Alamo Pressure Pumping LLC | $268 |
To acquire the Midland, TX-based pressure pumper operating its 9 hydraulic fracturing fleets comprised of 460,000 hp exclusively in the Permian Basin and primarily out of the Midland Basin. (Expected to close Aug. 31) |
| E&P | 8/5/21 | California Resources Corp. | Macquarie Infrastructure and Real Assets Inc. | $53 |
Bought the 90% working interest MIRA held in JV wells located in the company’s core areas of the San Joaquin Basin in CA. |
| E&P | 8/5/21 | Undisclosed | California Resources Corp. | $172 |
To purchase operations in the Ventura Basin producing 3,600 boe/d (about 65% oil) during 1Q 2021; agreements include additional earn-out consideration linked to future commodity prices. (Expected to close 2H 2021) |
| Renew | 8/9/21 | Tallgrass Energy LP | Brooks Energy Co. | N/A |
Bought a 75% membership interest in Escalante H2 Power, developing a first-of-its-kind hydrogen-to-power project at Tri-State Generation and Transmission Association Inc.’s Escalante Generating Station near Prewitt, NM. |
| E&P | 8/9/21 | Viper Energy Partners LP; Diamondback Energy Inc. | Swallowtail Royalties LLC; Swallowtail Royalties II LLC | $498 |
To purchase certain mineral and royalty interests including 2,302 net royalty acres primarily in the Northern Midland Basin, roughly 65% of which is operated by Diamondback Energy; transaction value is comprised of 15.25 MM units of Viper common stock and $225 MM of cash. (Expects to close 4Q 2021) |
| E&P | 8/11/21 | Bowline Energy LLC | Nine Point Energy LLC | N/A |
Purchased Nine Point Energy’s Williston Basin assets through a Chapter 11 Section 363 sales process. |
| E&P | 8/11/21 | Chesapeake Energy Corp. | Vine Energy Inc.; The Blackstone Group Inc. | $2,200 |
To acquire Vine, an energy company focused on the development of natural gas properties in the overpressured stacked Haynesville and Mid-Bossier shale plays in NW LA. (Expected to close 4Q 2021) |
| E&P | 8/11/21 | U.S. Energy Development Corp. | Atlantic Energy Partners LLC | $21.8 |
Formed JV to to develop and operate three horizontal wells within the Permian Basin in Ward County, TX. |
| Mid | 8/12/21 | BKV Corp.; Banpu Pcl | Temple Generation I LLC | $430 |
To purchase all of the equity interests in Temple Generation Intermediate Holdings II, LLC, the entity that owns, through its subsidiary, the Temple 1 natural gas power plant in Temple, TX. (Expected to close Aug. 12) |
| E&P | 8/13/21 | SilverBow Resources Inc. | Undisclosed | $33 |
To acquire oil and gas assets in the Eagle Ford from an undisclosed seller in an all-stock transaction; includes 45,000 total net acres across Atascosa, Fayette, Lavaca, Live Oak and McMullen Cos., TX and 1,580 boe/d (39% liquids) of net production. (Expected to close October 2021) |
| Renew | 8/16/21 | Buckeye Partners LP | OCI Solar Power LLC | N/A |
Bought a 270 MW construction-ready solar project located in Falls County, TX, expected to be brought online in 1Q 2023. |
| E&P | 8/16/21 | U.S. Energy Development Corp. | Undisclosed | $14.1 |
Purchased a Permian Basin project located in Reeves County, TX, in the core of the Delaware Basin targeting the Wolfcamp Shale. |
| E&P | 8/17/21 | Woodside Petroleum Ltd. | BHP Group Plc | $13,000 |
To acquire BHP’s petroleum business that includes conventional oil and gas operations centered in the US GoM, Australia, Trinidad and Tobago, and Algeria plus exploration, development and production activities in Mexico, deepwater Trinidad and Tobago, Western Gulf of Mexico, Eastern Canada and Barbados. (Expected to close in 2022) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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