A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 6/7/22 | Andros Minerals LLC; Andros Capital Partners LLC | Undisclosed | $122 |
To purchase a portfolio of mineral and royalty interests located in the Eagle Ford Shale and Permian’s Midland Basin and Delaware Basin. |
| E&P | 6/7/22 | Northern Oil and Gas Inc. | Undisclosed | $175 |
To acquire nonoperated interests in the Williston Basin primarily located in Dunn, McKenzie and Williams counties, ND; includes approximately 3,500 acres, 9.2 net producing wells, 2.6 net wells-in-process and 14.9 net engineered economic undeveloped locations. (Expected to close August) |
| E&P | 6/7/22 | Sitio Resources Corp.; Kimmeridge Management Co. LLC | Desert Peak Minerals; Falcon Minerals Corp. | N/A |
Acquired in all-stock merger creating a mineral and royalty company with a significant Permian and Eagle Ford footprint and an enterprise value of $1.9 B; combined assets include over 140,000 NRAs, 105,000 of which are located in the Permian Basin, and projected production of 13,500-14,500 boe/d for 1H 2022. (Completed; PSA announced January 2022) |
| E&P | 6/8/22 | Devon Energy Corp. | Rimrock Oil and Gas LLC; Warburg Pincus LLC | $856 |
To acquire the leasehold interest and related assets of RimRock Oil and Gas, a Warburg Pincus portfolio company focused in the Williston Basin; includes 38,000 net acres and 15,000 boe/d (78% oil) of production. (Expected to close 3Q 2022) |
| Mid | 6/9/22 | Matador Resources Co. | Summit Midstream Partners LP | $75 |
To purchase the Lane Gathering and Processing System in Eddy and Lea counties, NM, in the Permian within the northern Delaware Basin. |
| E&P | 6/10/22 | Undisclosed | Unit Corp.; Unit Petroleum Co. | $56 |
To buy Unit Corp.’s Gulf Coast oil and gas properties. (Expected to close July 1) |
| E&P | 6/13/22 | Cenovus Energy Inc. | BP Plc | CA$1,200 |
To buy BP’s 50% nonoperated interest in the Sunrise oil sands project in northern Alberta, Canada; total consideration includes CA$600 MM in cash, a CA$600 MM contingent payment and Cenovus’s 35% position in the undeveloped Bay du Nord project offshore Newfoundland and Labrador. (Expected to close 3Q 2022) |
| Mid | 6/14/22 | DCP Midstream LP | Woodland Midstream II LLC; EIV Capital LLC | $160 |
To acquire the James Lake System, located within three miles of DCP’s Goldsmith processing facility in Ector County, TX, within the Permian Basin; includes about 230 miles of gathering pipe and a 120 MMcf/d cryogenic processing facility. (Expected to close 3Q 2022) |
| E&P | 6/15/22 | Undisclosed | Riverbend Energy Group | $1,800 |
To buy affiliates Riverbend Oil & Gas VI, VI-B and VIII comprising nonoperated assets in multiple shale plays including the Bakken within the Williston Basin plus the Fayetteville, Haynesville and Utica shales; assets produce an average of 47,000 boe/d from 11,000 wells. (Expected to close 3Q 2022) |
| Mid | 6/16/22 | Targa Resources Corp. | Lucid Energy Group; Riverstone Holdings LLC; Goldman Sachs Asset Management | $3,550 |
To acquire Lucid Energy Group, a leading privately held natural gas processor in the Permian with assets focused in the Delaware Basin primarily in Eddy and Lea counties, NM. (Expected to close 3Q 2022) |
| S&S | 6/21/22 | ProFrac Holding Corp. | U.S. Well Services Inc. | $270 |
To acquire Houston-based U.S. Well Services Inc., a leading provider of electric pressure pumping services and a market leader in electric pressure pumping, in a stock-for-stock transaction. (Expected to close 4Q 2022) |
| E&P | 6/27/22 | Sitio Royalty Corp. | Foundation Minerals; Quantum Energy Partners | $323 |
Purchased over 19,700 net royalty acres in the Permian Basin. |
| E&P | 6/27/22 | Sitio Royalty Corp. | Momentum Minerals LLC; Apollo Global Management | $224 |
To buy over 12,200 net royalty acres in the Permian Basin. (Expected to close 3Q 2022) |
| E&P | 6/28/22 | Earthstone Energy Inc. | Titus Oil & Gas Production LLC; NGP Energy Capital Management LLC | $627 |
To acquire the Permian Basin NM assets of Titus Oil & Gas Production LLC and Titus Oil & Gas Production II LLC and their affiliates located in the northern Delaware Basin in Eddy and Lea Cos. (Expected to close 3Q 2022) |
| Renew | 6/28/22 | Equinor ASA; SSE Plc | Energy Capital Partners | $418.7 |
To buy UK-based power company Triton Power from PE firm Energy Capital Partners; includes key plant Saltend Power Station and plans for the CCGT power plant to use hydrogen. (Expected to close September 2022) |
| E&P | 6/28/22 | Whitecap Resources Inc. | Exxon Mobil Corp.; Imperial Oil Ltd. | CA$1,900 |
To purchase XTO Energy Canada ULC, jointly owned by Imperial and ExxonMobil Canada; includes 567,000 net acres in the Montney Shale, 72,000 net acres in the Duvernay Shale and additional acreage with net production of 140 MMcf/d of natural gas and about 9,000 bbl/d of crude, condensate and NGL. (Expected to close 3Q 2022) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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