A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| 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 | Diversified Energy Co. | Blackbeard Operating LLC | $180 |
To purchase 123,000 net acres, 16,000 barrels of oil equivalent per day and 840 net wells in the Barnett Shale. |
| 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. |
| Mid | 6/1/21 | Kinder Morgan Inc. | Consolidated Edison Inc.; Crestwood Equity Partners LP | $1,230 |
To buy StageCoach Gas Services, a natural gas pipeline and storage JV between Consolidated and Crestwood. (Expected to close 3Q 2021) |
| Mid | 6/1/21 | Pembina Pipeline Corp. | Inter Pipeline Ltd. | CA$8,300 |
To purchase all of the issued and outstanding shares of Inter Pipeline in a share-for-share transaction; asset include pipelines and infrastructure assets in Western Canada. |
| E&P | 6/2/21 | Colgate Energy Partners III LLC | Luxe Energy LLC | N/A |
Bought a majority of the assets owned by Luxe Energy in an all-stock transaction; includes roughly 22,000 net acres in the Permian Basin in Reeves and Ward counties, TX, with net daily production of about 17,000 boe/d. |
| E&P | 6/2/21 | Southwestern Energy Co. | Indigo Natural Resources LLC | $2,700 |
To acquire privately held Indigo Natural Resources, adding a 149,000 net-acre position in the Haynesville Shale in LA with 1.1 Bcf/d of net production and proved reserves as of year-end 2020 of 3.1 Tcf. (Expected to close 4Q 2021) |
| 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) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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