A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 5/17/21 | BCE-Mach III LLC; Mach Resources LLC; Bayou City Energy Management LLC | Cimarex Energy Co. | N/A |
To buy producing properties within the Midcontinent region in western and southern OK and the TX Panhandle; includes two gas gathering and processing assets located in southern OK. (Expected to close June) |
| S&S | 5/17/21 | Ranger Energy Services Inc. | Patriot Completion Solutions LLC; White Deer Energy LP | N/A |
Purchased Denver-based Patriot, portfolio company of White Deer Energy LP focused on wireline evaluation and intervention services with a strong market presence in the Permian, Bakken, Denver-Julesburg and Powder River basins. |
| E&P | 5/18/21 | Empire Petroleum Corp. | XTO Holdings LLC; Exxon Mobil Corp. | $17.8 |
Bought producing oil and gas assets located in the Eunice Monument and nearby Arrowhead Grayburg fields in the Permian Basin’s Central Basin Platform in Lea County, NM; includes 48,000 HBP acres and 1,100 net boe/d of production (67% oil). |
| E&P | 5/18/21 | Topaz Energy Corp. | Cenovus Energy Inc. | CA$102 |
Purchased ORRI assets on approximately 192,000 gross acres in the Marten Hills Clearwater area of Alberta. |
| E&P | 5/18/21 | Topaz Energy Corp. | Tourmaline Oil Corp. | CA$245 |
To buy ORRI on approximately 535,000 gross acres in the NEBC Montney and WI ownership in Tourmaline’s Gundy infrastructure. (Expected to close July 1) |
| E&P | 5/19/21 | Validus Energy | Ovinitv Inc. | $880 |
Bought Ovintiv’s Eagle Ford Shale asset in S TX; FY 2021 volumes projected to average roughly 21,000 boe/d, including 14,000 bbl/d of crude and condensate. (Completed; PSA announced March 2021) |
| E&P | 5/20/21 | 89 Energy Holdings LLC; Kayne Anderson Capital Advisors LP | Casillas Petroleum Resources Partners LLC; Acacia Exploration Partners LLC; Native Oil & Gas LLC | N/A |
Acquired in an all-equity consolidation of three Kayne Anderson portfolio teams with assets across Oklahoma in the Anadarko Basin of the Midcontinent region including in the STACK shale play. |
| E&P | 5/20/21 | Royal Dutch Shell Plc | Malampaya Energy XP Pte Ltd. | $460 |
To buy Shell’s 45% stake in Service Contract 38 (SC38), a deepwater license offshore the Philippines which includes the producing Malampaya gas field. (Expected to close by year-end 2021) |
| E&P | 5/20/21 | Undisclosed | Oasis Petroleum Inc. | $481 |
To buy, 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; transactions include three $25 MM annual contingent payments if WTI averages over $60/bbl in each calendar year. (Primary transaction expected to close June 30; two smaller transactions have closed) |
| E&P | 5/20/21 | W&T Offshore Inc. | Munich Re Reserve Risk Financing Inc. | $215 |
Transferred 100% of its Mobile Bay area assets and related gas treatment facilities located offshore Alabama in the eastern U.S. Gulf of Mexico to special purpose vehicles wholly owned by W&T in exchange for a first-lien non-recourse term loan. |
| E&P | 5/21/21 | EnVen Energy Ventures LLC | BHP Group Plc | N/A |
Purchased BHP’s 35% ownership interest and acquired operatorship of the Neptune Field in the US GoM; boosts EnVen’s interest in Neptune to 65%. |
| E&P | 5/24/21 | Cabot Oil & Gas Corp. | Cimarex Energy Co. | $7,400 |
To acquire Denver-based Cimarex in an all-stock combination to add approximately 560,000 net acres in the Permian and Anadarko basins to Cabot’s approximately 173,000 net acres in the Marcellus Shale. (Expected to close 4Q 2021) |
| E&P | 5/24/21 | Hess Corp. | Cataleya Energy Ltd. | N/A |
Acquires an additional 5% WI in the Kaieteur Block offshore Guyana, increasing its interest to 20% from 15%. |
| Mid | 5/27/21 | XRI Holdings LLC | Hibernia Energy III LLC | N/A |
Purchased Celtic Disposal, the produced water infrastructure subsidiary of privately held Permian operator Hibernia Energy with assets in the Midland Basin area of W TX. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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