A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| 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 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. |
| S&S | 8/17/21 | Axis Energy Services LLC | Basic Energy Services Inc. | N/A |
To acquire as a stalking-horse bidder in a in court-supervised bankruptcy sale process substantially all of Basic’s well servicing and completion and remedial segment assets outside of CA. |
| S&S | 8/17/21 | Berry Corp. | Basic Energy Services Inc. | $27 |
To purchase as a stalking-horse bidder in a in court-supervised bankruptcy sale process substantially all of Basic’s assets in CA. |
| S&S | 8/17/21 | Select Energy Services Inc. | Basic Energy Services Inc. | N/A |
To buy as a stalking-horse bidder in a in court-supervised bankruptcy sale process substantially all of Basic’s assets outside of CA, including all of the assets of Agua Libre Midstream LLC. |
| 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) |
| E&P | 8/18/21 | Diversified Energy Co. Plc | Tanos Energy Holdings III LLC | $154 |
Acquired certain Cotton Valley and Haynesville assets in LA and TX that currently generate 14,000 boe/d with 40 MMboe of PDP reserves. |
| S&S | 8/18/21 | Gulf Land Structures LLC | Dynamic Industries | N/A |
Purchased all the living quarters assets and repair and maintenance business of LQT Industries located throughout the GoM and US Gulf Coast region. |
| Mid | 8/20/21 | Inter Pipeline Ltd. | Brookfield Infrastructure Partners LP | CA$8,580 |
Purchased all of the issued and outstanding shares of Inter Pipeline in a cash-and-stock transaction; assets include pipelines and infrastructure assets in Western Canada. |
| Mid | 8/20/21 | Kinder Morgan Inc. | Kinetrex Energy; Parallel49 Equity | $310 |
Purchased the Indianapolis-based leading supplier of LNG in the Midwest and a rapidly growing player in producing and supplying renewable natural gas. (Completed; PSA announced July 2021) |
| Renew | 8/23/21 | Clearway Energy Inc.; Global Infrastructure Partners III | Undisclosed | $335 |
To buy remaining 50% equity interest in the 530 MW Utah Solar Portfolio that it does not currently own. (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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