A&D DEAL SHEET |
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|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| S&S | 6/28/21 | Baker Hughes Co. | Electrochaea GmbH | N/A |
Acquired a 15% stake as part of a recent investment in the startup focused on the production of natural gas from hydrogen and CO₂, known as synthetic natural gas. |
| E&P | 6/28/21 | Kiwetinohk Resources Corp.; ARC Financial Corp. | Distinction Energy Corp. | N/A |
To acquire Distinction, formerly Delphi Energy, with accumulated property in the Montney resource near Fox Creek, Alberta. |
| E&P | 6/28/21 | Trafigura AG | Vista Oil & Gas SAB de CV | $25 |
Formed JV for the development of five pads of four wells each in Bajada del Palo Oeste, a shale oil development in Argentina’s Vaca Muerta Shale. |
| S&S | 6/29/21 | Enverus | Marginal Unit Inc. | N/A |
Purchased Marginal Unit, an Austin, TX-based power market analytics firm providing grid congestion modeling and analytics software for the power markets. |
| E&P | 6/30/21 | Dorchester Minerals LP | Undisclosed | N/A |
Bought ORRI in the Bakken Trend totaling approximately 6,400 net royalty acres under 63,000 gross acres located in Dunn, McKenzie, McLean and Mountrail counties, ND, in exchange for 725,000 common LP units. (Completed; PSA announced May 2021) |
| Mid | 7/1/21 | DT Midstream Inc. | DTE Energy Co. | N/A |
Formed through the spinoff of DTE Energy's gas pipeline business, which transports natural gas extracted from shale basins in Appalachia and the Haynesville in LA, into a publicly-traded company. |
| E&P | 7/1/21 | Laredo Petroleum Inc. | Sabalo Energy LLC; EnCap Investments LP; Undisclosed | $715 |
Purchased the assets of Sabalo Energy and a nonoperating partner including roughly 21,000 contiguous net acres directly offsetting Laredo’s existing Howard County, TX, leasehold in the Midland Basin of the Permian; current production is about 14,500 boe/d (83% oil, three stream) and PDP reserves are approximately 30 million boe (73% oil, three stream). (Completed; PSA announced May 2021) |
| E&P | 7/1/21 | Undisclosed; Sixth Street Partners LLC | Laredo Petroleum Inc. | $405 |
Bought operated PDP reserves in gas-weighted legacy assets in Reagan and Glasscock counties, TX, in the Permian Basin; comprises 37.5% of Laredo’s WI in the assets, wellbore WI only, and does not include undeveloped locations. (Completed; PSA announced May 2021) |
| S&S | 7/5/21 | ChampionX Corp. | Scientific Aviation Inc. | N/A |
Purchased Scientific Aviation, a market leader in site-specific and regional methane emissions monitoring solutions for continuous and periodic monitoring applications based in Boulder, CO. |
| E&P | 7/5/21 | Diversified Energy Co. Plc | Blackbeard Operating LLC | $180 |
Purchased 123,000 net acres, 16,000 barrels of oil equivalent per day and 840 net wells in the Barnett Shale. (Completed; PSA announced May 2021) |
| E&P | 7/6/21 | Crowheart Energy LLC | The Williams Cos. Inc. | N/A |
Formed upstream JV consolidates three legacy upstream assets into one contiguous footprint in the Wamsutter Field of the Greater Green River Basin covering over 1.2 million net acres in WY. |
| S&S | 7/6/21 | Patterson-UTI Energy Inc. | Pioneer Energy Services Corp. | $295 |
To acquire San Antonio-based Pioneer, a contract driller with a fleet of 17 drilling rigs in the US plus eight rigs in Colombia that also provides a number of well and production services. (Expected to close 4Q 2021) |
| E&P | 7/6/21 | Percussion Petroleum LLC; Undisclosed | Oasis Petroleum Inc. | $481 |
Bought, in three separate transactions, Oasis’ Permian position consists of approximately 24,000 net acres in the core of the Delaware Basin in W TX producing about 7,200 boe/d; Percussion Petroleum was buyer of primary transaction valued at $375 MM that includes contingent payments tied to future oil prices. (Completed June 29; PSA announced May 2021) |
| E&P | 7/7/21 | i3 Energy Plc | Cenovus Energy Inc. | CA$65 |
To purchase certain petroleum and infrastructure assets within i3’s Central Alberta core area including approximately 8,400 boe/d (51% oil and NGL) of predominantly operated, conventional, low-decline production and an extensive network of complementary midstream infrastructure to support long-term sustainable operations. |
| S&S | 7/7/21 | Pickering Energy Partners | Heikkinen Energy Advisors LLC | N/A |
Acquired Houston-based Heikkinen Energy Advisors, an investment adviser providing insights across all sectors of the energy industry, through a merger forming Pickering Energy Partners Insights. |
| E&P | 7/8/21 | Contango Oil & Gas Co. | ConocoPhillips Co. | $67 |
To acquire Wind River Basin assets covering approximately 44,000 net acres in Fremont and Natrona counties, WY, and a net production run rate of approximately 78 MMcfe/d (roughly 100% gas). (Expected to close 3Q 2021) |
| E&P | 7/8/21 | Mesa Royalties II LLC | Undisclosed | N/A |
Purchased a mineral and royalty portfolio in the Haynesville Shale in N LA consisting of about 15,000 net royalty acres with 472 existing PDP wells and projected NTM asset cash flow of about $30 million. |
| E&P | 7/8/21 | WildFire Energy LLC; Kayne Anderson | Hawkwood Energy LLC | N/A |
To acquire Denver-based Hawkwood Energy, an Eagle Ford Shale operator with over 160,000 net acres in E TX primarily in Brazos and Burleson Cos. and over 375 operated wells producing more than 19,000 net boe/d (85% oil). (Expected to close 3Q 2021) |
| Mid | 7/9/21 | Kinder Morgan Inc. | Consolidated Edison Inc.; Crestwood Equity Partners LP | $1,230 |
Bought StageCoach Gas Services, a natural gas pipeline and storage JV between Consolidated and Crestwood. (Completed; PSA announced June 2021) |
| S&S | 7/9/21 | Ranger Energy Services Inc. | PerfX Wireline Services | N/A |
Purchased PerfX, a privately held Denver-based service company currently operating wireline pumpdown crews in US shale plays across OK, ND and TX, in an all-stock transaction. |
| E&P | 7/12/21 | Penn Virginia Corp. | Lonestar Resources US Inc. | $370 |
To acquire Fort Worth, TX-based Eagle Ford Shale producer Lonestar Resources in an all-stock transaction including the assumption of $236 MM of net debt. (Expected to close 2H 2021) |
| Mid | 7/13/21 | Plains All American Pipeline LP | Oryx Midstream Services LLC; Stonepeake Infrastructure Partners Co. | N/A |
To acquire Midland, TX-based Oryx Midstream through a cashless merger transaction of Oryx with a vast majority of Plains Permian Basin assets forming Plains Oryx Permian Basin, a debt-free JV. (Expected to close 4Q 2021) |
| E&P | 7/15/21 | Cardinal Energy Ltd. | Venturion Oil Ltd. | CA$47.5 |
Acquired privately held Venturion Oil, which has assets comprising about 2,400 boe/d of production (~83% oil) focused in central Alberta and other minor properties. (Completed; PSA announced June 2021) |
| E&P | 7/15/21 | Tourmaline Oil Corp. | Black Swan Energy Ltd. | CA$1,100 |
Purchased privately owned Montney operator Black Swan Energy, adding 230,000 net acres of Montney rights and over 50,000 boe/d of production. (Completed; PSA announced June 2021) |
| Mid | 7/16/21 | Kinder Morgan Inc. | Kinetrex Energy | $310 |
To purchase the Indianapolis-based leading supplier of LNG in the Midwest and a rapidly growing player in producing and supplying renewable natural gas. (Expected to close 3Q 2021) |
| E&P | 7/19/21 | PrairieSky Royalty Ltd. | Spur Petroleum Ltd. | CA$155 |
Purchased a 5% gross ORRI on over 76,000 acres in the Clearwater play in the core Marten Hills area with approximately 500 boe/d (96% oil) of current royalty production. |
| E&P | 7/20/21 | Earthstone Energy Inc. | Tracker Resource Development LLC; Sequel Energy Group LLC; EnCap Investments LP | $126.5 |
Acquired privately held operated assets located in the Midland Basin comprising about 20,300 net acres (100% HBP, 100% operated) in Irion County, TX, 7,800 boe/d (21% oil / 59% liquids) current net production from 71 wells (30 horizontal / 41 vertical), an inventory of 49 Earthstone-identified horizontal Wolfcamp locations and a $153 MM PDP PV-10 with reserves of approximately 19.8 MMboe. (Completed; PSA announced April 2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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