A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 11/9/20 | Bonanza Creek Energy Inc. | HighPoint Resources Inc. | $376 |
To acquire rival D-J Basin producer in a merger that includes the restructuring of HighPoint; combined company will have production of 50,000 boe/d and a consolidated, contiguous leasehold position of approximately 206,000 net acres in rural Weld County, CO. (Expected to close 1Q 2021) |
| Mid | 11/9/20 | Riverstone Holdings LLC | International-Matex Tank Terminals (IMTT); Macquarie Group Ltd. | $2,685 |
To acquire New Orleans-based IMTT, which operates 19 bulk liquid storage terminals East, West and Gulf Coasts, as well as the Great Lakes region with total storage capacity of about 48 MMbbl. (Expected to close late 2020/early 2021) |
| Mid | 11/10/20 | Easton Energy LLC | Exxon Mobil Corp. | N/A |
To buy the South Texas Pipeline System, which is a petrochemical pipeline system that runs from Houston to Corpus Christi, TX. (Expected close early 2021) |
| E&P | 11/10/20 | EOG Resources Inc. | Tethys Oil AB | N/A |
To acquire a 50% interest in the exploration and production sharing agreement covering Block 49 onshore Oman as part of a farm-out. |
| S&S | 11/10/20 | Innovex Downhole Solutions Inc.; Intervale Capital LLC | Rubicon Oilfield International Holdings LP; Warburg Pincus LLC | N/A |
To acquire Houston-based oilfield products and technical services company Rubicon. (Expected to close early 2021) |
| E&P | 11/10/20 | Total SA | Tullow Oil Plc | $575 |
Bought Tullow’s roughly 33.3% stake in the Uganda Lake Albert onshore development project including the East African Crude Oil Pipeline. (Completed; PSA announced April 2020) |
| E&P | 11/13/20 | Southwestern Energy Co. | Montage Resources Corp. | $213 |
Acquired to acquire Montage Resources in an all-stock, adding 325,000 net acres in Appalachia’s Utica and Marcellus shale plays across OH, PA and WV. (Completed; PSA announced August 2020) |
| E&P | 11/30/20 | Contango Oil & Gas Co. | Undisclosed | $58 |
To buy assets in the Big Horn, Permian, and Powder River Basins via a bank owned liquidation of assets. (Expected to close Dec. 31) |
| S&S | 11/30/20 | S&P Global Inc. | IHS Markit Ltd. | $44,000 |
To acquire London-based IHS Markit in an all-stock transaction valuing IHS Markit at an enterprise value of $44 B, including $4.8 B of net debt. (Expected to close 2H 2021) |
| E&P | 12/2/20 | Ameredev Texas LLC | Lilis Energy Inc. | $46.6 |
Purchased Lilis Energy's roughly 20,000-acre position in the Permian's Delaware Basin through a court-supervised sales process. |
| E&P | 12/2/20 | Headwater Exploration Inc. | Cenovus Energy Inc. | CA$100 million |
To purchase Marten Hills oil assets in northern Alberta in the Clearwater play; includes 100% WI in about 2,800 bbl/d of medium oil production and 270 net sections of Clearwater rights. (Expected to close year-end 2020) |
| E&P | 12/2/20 | Maverick Natural Resources LLC; EIG Global Energy Partners | FourPoint Energy LLC | N/A |
Acquired FourPoint Energy, the largest producer in the Western Anadarko Basin, in an all-equity merger between the two companies majority controlled by EIG Global Energy Partners; FourPoint became a subsidiary of Maverick and was renamed Unbridled Resources LLC. |
| Mid | 12/2/20 | Sempra Energy | IEnova | $6,130 |
To buy remaining 33.57% stake in its Mexican unit IEnova in an all-stock deal to create Sempra Infrastructure Partners through merger with its North American LNG export infrastructure unit Sempra LNG. (Expected to close 1Q 2021) |
| Mid | 12/7/20 | BWC Terminals LLC | NuStar Energy LP | $106 |
Bought terminals in Texas City, TX, with petrochemical and petroleum capabilities. (Completed; PSA announced November 2020) |
| E&P | 12/9/20 | Occidental Petroleum Corp. | ADNOC | $140 |
Acquired exploration rights to Abu Dhabi Onshore Block 5, which covers an onshore area of 4,212 sq km southeast of Abu Dhabi city. |
| E&P | 12/9/20 | Whitecap Resources Inc. | TORC Oil & Gas Ltd. | CA$552 |
To buy rival Calgary, Alberta-based TORC Oil & Gas in an all-stock deal; includes Cardium development in central Alberta and exposure to the light oil Torquay/Three Forks resource play in SE Saskatchewan. (Expected to close February) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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