A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 1/25/21 | Enerplus Corp. | Bruin E&P Partners LLC; ArcLight Capital Partners LLC | $465 |
To acquire all of the shares of Bruin E&P HoldCo, which holds 151,000 net acres in the Williston Basin, all located within ND, with current production of about 24,000 boe/d, 84.1 MMboe of proved plus probable reserves and an inventory of 149 gross (111 net) drilling locations. (Expected to close March) |
| Renew | 1/25/21 | Royal Dutch Shell Plc | Ubitricity | N/A |
To buy European provider of on-street charging for EV, which operates largest public EV charging network in the UK. |
| Mid | 1/27/21 | Tailwater Capital LLC; Connect Midstream LLC | Tall Oak Midstream III LLC; EnCap Flatrock Midstream LLC | N/A |
To acquire the Tall Oak III portfolio in the Arkoma STACK Basin and merge the company’s assets with Tailwater’s existing portfolio company in the same region, Connect Midstream, with the Tall Oak team assuming operatorship. |
| Mid | 1/27/21 | Tailwater Capital LLC | Tall Oak Midstream II LLC; EnCap Flatrock Midstream LLC | N/A |
To purchase a majority of assets of Tall Oak II, which includes gathering lines across eight OK counties in the STACK extension; EnCap Flatrock retained Custy County assets. |
| Renew | 1/29/21 | BP Plc | Equinor ASA | $1,100 |
Acquired a 50% interest in both the Empire Wind and Beacon Wind assets located on the US East Coast; includes new strategic partnership to jointly develop offshore wind projects in the US. (Completed; PSA announced September 2020) |
| E&P | 1/31/21 | Surge Energy US Holdings Co. | Grenadier Energy Partners II LLC; EnCap Investments LP | $420 |
To buy Midland Basin leasehold interest and producing wells in Howard County, TX, in the Permian covering approximately 18,010 net acres, an operated inventory of approximately 120 future drilling locations and average production of about 9,000 boe/d (75% oil). (Expected to close 1Q 2021) |
| E&P | 2/1/21 | Contango Oil & Gas Co. | Undisclosed | $58 |
Bought assets in the Big Horn, Permian, and Powder River Basins via a bank owned liquidation of assets. (Completed; PSA announced December 2020) |
| E&P | 2/1/21 | PTT Exploration and Production Public Co. Ltd. (PTTEP) | BP Plc | $2,600 |
To buy a 20% stake in Oman’s Block 61. (Expected to close during 2021) |
| E&P | 2/2/21 | Inpex Corp. | Exxon Mobil Corp. | N/A |
Acquired a portion (2.3546%) of the participating interest (23.29512%) in the Lucius and Hadrian North fields, both located offshore LA in Keathley Canyon Block of the US GoM. |
| E&P | 2/3/21 | Northern Oil and Gas Inc. | Reliance Industries Ltd. | $250 |
To acquire a 27% blended WI and 64,000 net acres in the Marcellus Shale of the Appalachian Basin in SW PA; assets were producing approximately 120 MMcfe/d of natural gas at the effective date of July 1, 2020 net to Northern. |
| Mid | 2/4/21 | CorEnergy Infrastructure Trust Inc. | Crimson Midstream LLC | $350 |
Purchased Crimson Midstream Holdings including four infrastructure pipeline systems spanning approximately 1,800 miles across CA, connecting crude production to in-state refineries. |
| E&P | 2/4/21 | EnQuest Plc | Suncor Energy Inc. | $375 |
To buy 26.69% nonoperated equity interest in the Golden Eagle development area, comprising the producing Golden Eagle, Peregrine and Solitaire fields in the UK North Sea; expected to include around 10,000 boe/d or production and includes a contingent payment of up to $50 MM due 2H 2023. |
| E&P | 2/4/21 | Undisclosed | Sumitomo Corp. | N/A |
Purchased a 100% operated stake in a tight oil producing asset within the Eagle Ford formation of S TX in Karnes County; included 624 acres with estimated peak production of 3,000 boe/d. (Closed 4Q 2020) |
| Mid | 2/5/21 | Chevron Corp. | Noble Midstream Partners LP | N/A |
To buy any remaining Noble Midstream interests not already owned by Chevron and its affiliates (62.5% stake) at $12.47 per common unit, valuing the Houston-based pipeline operator at $1.13 B; subject to negotiation and board approval. |
| Renew | 2/5/21 | Total SA | SunChase Power LLC; MAP RE/ES | N/A |
To buy a development pipeline of TX solar projects and battery storage assets; four large-scale solar projects located outside Houston set to generate 2.2 GW. |
| E&P | 2/8/21 | Gondola Resources LLC | SandRidge Energy Inc. | $47 |
Bought SandRidge’s North Park Basin asset comprised of 93,000 net acres targeting multiple Niobrara benches in Jackson County, CO. (Completed; PSA announced December 2020) |
| S&S | 2/9/21 | Kentech Corporate Holdings Ltd.; Blue Water Energy LLP | SNC-Lavalin Group Inc. | N/A |
To buy the SNC-Lavalin oil and gas business, including Services and Lump-Sum Turnkey. (Expected to close 2Q 2021) |
| E&P | 2/9/21 | Panoro Energy ASA | Tullow Oil Plc | $180 |
To buy stakes in nonoperated offshore oil fields in Equatorial Guinea and Gabon; includes 6,900 bbl/d net production. |
| E&P | 2/10/21 | ARC Resources Ltd. | Seven Generations Energy Ltd. | CA$2,700 |
To acquire Calgary, Alberta producer Seven Generations; includes 528,000 net acres in the Montney Shale with 180-185 Mboe/d of 2021 production. |
| E&P | 2/10/21 | Grayson Mill Energy LLC; EnCap Investments LP | Equinor ASA | $900 |
To acquire Equinor’s interests in the Bakken field; includes operated and nonoperated acreage, totaling 242,000 net acres, and associated midstream assets in North Dakota and Montana with production of 48,000 boe/ (net of royalty interests) for 4Q 2020. |
| Mid | 2/16/21 | WhiteWater Midstream LLC | Enstor Gas LLC; ArcLight Capital Partners LLC | N/A |
Acquired Waha gas storage assets located near the trading hub in W TX with the capacity, when fully developed, to store approximately 10 Bcf of natural gas and include six underground storage caverns and permits for five additional caverns. |
| Mid | 2/17/21 | Energy Transfer LP | Enable Midstream Partners LP | $7,200 |
To acquire Oklahoma City-based Enable with natural gas gathering and processing assets in the Anadarko Basin in Oklahoma plus gas gathering and processing assets in the Arkoma Basin and the Haynesville Shale; all-equity transaction includes debt. (Expected to close mid-2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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