A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 6/7/21 | Civitas Resources Inc.; Bonanza Creek Energy Inc. | Crestone Peak Resources LLC; Canada Pension Plan Investment | N/A |
To acquire privately held Crestone Peak in an all-stock transaction; pro forma company will operate across more than half a million net acres in the D-J Basin with estimated production base of approximately 160,000 boe/d and year-end 2020 proved reserves of more than 530 million boe. (Expected to close 3Q 2021) |
| Mid | 6/7/21 | Trencap LP | Enbridge Inc. | $1,140 |
To purchase minority 38.9% stake in oil producer Noverco Inc., which indirectly owns a Quebec-based business with interests primarily in gas distribution and power distribution in Quebec and VT. (Expected to close early 2022) |
| Mid | 6/8/21 | Hartree Partners LP | Plains All American Pipeline LP | $850 |
To acquire the Pine Prairie and Southern Pines natural gas storage facilities along the US Gulf Coast consisting of approximately 70 Bcf of total working gas capacity across nine caverns in LA and MS, along with associated base gas, header pipelines and compression facilities. (Expected to close 3Q 2021) |
| E&P | 6/8/21 | Independence Energy LLC; KKR & Co. Inc. | Contango Oil & Gas Co. | N/A |
To acquire Forth Worth, TX-based Contango in an all-stock combination to create platform targeting acquisitions of low-decline, producing upstream oil and natural gas assets with an enterprise value of about $5.7 billion. (Expected to close by year-end 2021) |
| Mid | 6/9/21 | Empire Midstream LLC | Shell Midstream Partners LP | N/A |
Bought the Auger 12-inch pipeline which runs approximately 33 miles from the Enchilada Platform in the US GoM to a downstream subsea tie-in into the Eugene Island Pipeline System offshore LA. |
| E&P | 6/10/21 | Colgate Energy Partners III LLC | Occidental Petroleum Corp. | $508 |
To acquire roughly 25,000 net acres in the Permian in Reeves and Ward counties, TX, within the southern Delaware Basin with current production of approximately 10,000 boe/d from about 360 active wells. (Expected to close 3Q 2021) |
| E&P | 6/11/21 | Tourmaline Oil Corp. | Black Swan Energy Ltd. | CA$1,100 |
To acquire privately owned Montney operator Black Swan Energy, adding 230,000 net acres of Montney rights and over 50,000 boe/d of production. (Expected to close July) |
| E&P | 6/14/21 | Earthstone Energy Inc. | Undisclosed; Titanium Exploration Partners LLC: EnCap Investments LP | $48 |
Acquired working interests in Eagle Ford assets the company operates located in southern Gonzales County, Texas, from four separate sellers including two affiliates of Titanium, an EnCap-backed company. |
| S&S | 6/15/21 | Proserv Group Inc. | Dron & Dickson | N/A |
Purchased the trade and assets of Dron & Dickson Electromechanical Contracting LLC, the Middle Eastern business of UK-based industrial equipment supplier Dron & Dickson focused on the supply, assembly and maintenance of hazardous area and industrial electrical equipment. |
| S&S | 6/16/21 | Enverus | Integrity Title Co. | N/A |
Bought Integrity Title Co., the largest provider of title plant access in TX and NM. |
| E&P | 6/16/21 | Northern Oil and Gas Inc. | Undisclosed | $102.2 |
To buy nonoperated interests across approximately 2,900 net acres located in the core of the Delaware Basin in Reeves County, TX, and Lea and Eddy counties, NM. (Expected to close 3Q 2021) |
| S&S | 6/21/21 | Encore Green Environmental Technologies & Licensing | XRI Holdings LLC | N/A |
Purchased a Fountain Quail water treatment technology and equipment formerly known as NOMAD, adding a proven desalination system to its operations in WY. |
| S&S | 6/21/21 | Rod and Tubing Services LLC; Lime Rock Partners | Certus Energy Solutions; Amberjack Capital Partners | N/A |
Acquired through a combination forming the premier provider of oilfield tubular inspection and integrity services. |
| E&P | 6/22/21 | Surge Energy Inc. | Astra Oil Corp. | CA$160 |
To acquire Astra Oil, more than 4,100 boe/d (90% liquids) of operated, light oil production focused primarily in the SE Saskatchewan region of the Western Canadian Sedimentary Basin. (Expected to close August) |
| S&S | 6/24/21 | Ensign Energy Services Inc. | Nabors Industries Ltd. | N/A |
To buy Nabors’ Canadian drilling assets comprising of 35 land-based drilling rigs plus related equipment and certain real property. |
| E&P | 6/25/21 | Royal Dutch Shell Plc | BP Plc | N/A |
To buy 27.5% stake in the Shearwater North Sea, increasing its holdings in the gas field, which it operates, to 55.5%. |
| 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. |
| 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. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
Recommended Reading
Glenfarne: Latest Customer Means Texas LNG is Ready for FID
2024-09-12 - Construction on Glenfarne’s Texas LNG is scheduled to begin this year, though the project is one of two LNG sites that had permits pulled after a court ruling in August.
FTC Oks Chevron-Hess Deal, Bans John Hess from Board
2024-09-30 - Federal regulators signed off on a blockbuster tie-up between Chevron and Hess Corp. but banned CEO John Hess from sitting on the Chevron board.
Venezuela Lost Citgo, But the Battle’s Not Over Yet
2024-10-04 - Amber Energy’s $7.3 billion purchase of Citgo fell well short of analyst’s valuations. PDVSA Ad Hoc expects to appeal the decision soon in its battle to protect its claim on Citgo.
Quantum Teams Looking for Acquisitions ‘Off the Beaten Path’
2024-10-14 - Blake Webster, partner at Quantum Capital Group, said the private-equity firm’s portfolio teams are looking to buy from sellers looking for cash buyouts, though not necessarily in the usual places.
Diamondback Subsidiary Viper Closes $900MM Midland Royalty Deal
2024-10-02 - Diamondback Energy’s Viper Energy closed the last of three acquisitions from Tumbleweed Royalty, owned by Double Eagle Energy’s founders, that together totaled about $1.1 billion.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.