A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| S&S | 1/4/21 | Anvil and Smith-Cooper International | Forum Energy Technologies Inc. | $105 |
Purchased the assets associated with the ABZ and Quadrant valve brands with operations located in KS and LA. |
| E&P | 1/4/21 | Cenovus Energy Inc. | Husky Energy Inc. | CA$3,800 |
Acquired Calgary, Alberta-based Husky Energy in an all-stock merger. (Completed; PSA announced October 2020) |
| S&S | 1/4/21 | Liberty Oilfield Services Inc. | Schlumberger Ltd.; OneStim | N/A |
Purchased OneStim, Schlumberger’s North America fracking business that includes pressure pumping, pumpdown perforating, and Permian frac sand assets; in exchange, Schlumberger will receive a 37% equity interest in the combined company. (Completed; PSA announced September 2020) |
| E&P | 1/4/21 | Undisclosed | Samson Resources II LLC | $215 |
To buy Powder River Basin assets in WY consisting of about 132,000 net acres and 8,500 boe/d (75% oil) of production. (Expected to close March) |
| E&P | 1/5/21 | Freehold Royalties Ltd. | Undisclosed | $58 |
Purchased a US multibasin royalty package comprising 400,000 gross acres of mineral title and ORRI across 12 basins in eight states predominantly weighted toward areas of the Permian Basin and Eagle Ford Shale; production of 1,150 boe/d (62% liquids) is forecast for 2021. (Completed; PSA announced November 2020) |
| Down | 1/5/21 | NRG Energy Inc. | Centrica Plc; Direct Energy LP | $3,630 |
Acquired the Houston-based Direct Energy, a retail provider of electricity, natural gas and home and business energy-related services in North America. (Completed; PSA announced July 2020) |
| E&P | 1/7/21 | Devon Energy Corp. | WPX Energy Inc.; EnCap Investments LP | $5,750 |
Acquired in an all-stock combination transaction creating a multibasin company with positions across the Permian/Delaware Basin, Eagle Ford, Anadarko Basin/STACK, Powder River Basin and Williston Basin/Bakken including 400,000 net acres in the Delaware Basin accounting for nearly 60% of its total oil production; includes assumption of $3.2 billion net debt. (Completed; PSA announced September 2020) |
| E&P | 1/7/21 | Earthstone Energy Inc. | Independence Resources Managemen LLC; Warburg Pincus LLC | $189.5 |
Bought the Midland Basin operator with 43,400 net acres in two contiguous blocks and average production of 8,780 boe/d (66% oil); includes 4,900 core net acres in Midland and Ector counties, TX, and 70 undeveloped horizontal locations targeting the Middle Spraberry, Lower Spraberry and Wolfcamp A zones. (Expected to close 1Q 2021) |
| E&P | 1/12/21 | Pioneer Natural Resources Co. | Parsley Energy Inc. | $7,600 |
Acquired Permian pure-play Parsley Energy in an all-stock deal with a fixed exchange ratio of 0.1252 shares of Pioneer common stock for each share of Parsley stock owned and the assumption of $3.1 B of debt; includes 248,000 net leasehold acres in the Midland and Delaware sub-basins. (Completed; PSA announced October 2020) |
| Mid | 1/13/21 | New Fortress Energy Inc. | Stonepeak Infrastructure Partners Co.; Golar LNG Ltd. | $5,000 |
To buy natural gas company Hygo Energy Transition Ltd., a 50/50 JV between Stonepeak Infrastructure Partners and Golar LNG focused on LNG projects in Brazil, and Hygo's controlling company Golar LNG Partners LP. (Expected to close 1H 2021) |
| E&P | 1/15/21 | ConocoPhillips Co. | Concho Resources Inc. | $13,300 |
Acquired Permian pure-play Concho Resources in an all-stock deal that swaps 1.46 shares of ConocoPhillips for each Concho share; includes a roughly 800,000 gross (550,000 net) acre position in both the Delaware and Midland sub-basins. (Completed; PSA announced October 2020) |
| Renew | 1/18/21 | Total SA | Adani Green Energy Ltd. | $2,500 |
Purchased a 20% stake in India's AGEL and a 50% share in its solar power assets. |
| E&P | 1/20/21 | Undisclosed | Equinor ASA | $14.2 |
Purchased 100 million shares, representing an 18.8% stake in Canadian oil sands firm Athabasca Oil. |
| E&P | 1/21/21 | Contango Oil & Gas Co. | Mid-Con Energy Partners LP | N/A |
Bought Tulsa, OK-based Mid-Con Energy in an all-stock merger; includes conventional assets in OK and WY. (Completed; PSA announced October 2020) |
| 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. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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