A&D DEAL SHEET |
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|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Mid | 2/15/21 | Howard Energy Partners | MPLX LP | N/A |
Purchased the Javelina Facility, which provides refinery services, located in Corpus Christi, TX. |
| S&S | 2/15/21 | Quorum Software | Aucerna | N/A |
Acquired through a merger with Aucerna, a globally provider of integrated planning, execution and reserves software for the energy industry based in Calgary, Alberta, backed by Thoma Bravo. |
| S&S | 2/15/21 | Quorum Software | TietoEVRY | N/A |
To acquire TietoEVRY’s entire oil and gas software business, which includes the leading Energy Components hydrocarbon management solutions and DaWinci solution for personnel and materials logistics. |
| E&P | 2/16/21 | Continental Resources Inc. | Samson Resources II LLC | $215 |
To buy Powder River Basin assets in WY consisting of about 130,000 net acres and 9,000 boe/d (80% oil) of current net production. (Expected to close March) |
| Mid | 2/16/21 | Pine Run Gathering LLC; Stonehenge Energy Resources II LLC; UGI Energy Services LLC | PennEnergy Resources LLC | $205 |
Acquired Pine Run Midstream, which operates 43-miles of dry gas gathering pipeline and compression assets located in Butler and Armstrong Cos. in western PA in the Appalachian Basin. |
| Mid | 2/16/21 | WhiteWater Midstream LLC | Enstor Gas LLC; ArcLight Capital Partners LLC | N/A |
Acquired Waha gas storage assets located near the trading hub in W TX with the capacity, when fully developed, to store approximately 10 Bcf of natural gas and include six underground storage caverns and permits for five additional caverns. |
| E&P | 2/17/21 | Crescent Point Energy Corp. | Royal Dutch Shell Plc | CA$900 |
To buy Shell’s position in the Kaybob Duvernay play in Alberta including approximately 30,000 boe/d (57% condensate, 8% NGL, 35% shale gas) of production plus an inventory of about 200 net internally identified drilling locations; total consideration consists of CA$700 MM in cash and 50 MM common shares. (Expected to close April) |
| E&P | 2/17/21 | Distinction Energy Corp. | Ovintiv Inc. | $236 |
To acquire Ovintiv’s Duvernay asset in Alberta including production averaged approximately 10,000 boe/d (43% liquids) in 4Q 2020; transaction consideration includes $12 MM of contingent payments based on future commodity prices. (Expected to close 2Q 2021) |
| Mid | 2/17/21 | Energy Transfer LP | Enable Midstream Partners LP | $7,200 |
To acquire Oklahoma City-based Enable with natural gas gathering and processing assets in the Anadarko Basin in Oklahoma plus gas gathering and processing assets in the Arkoma Basin and the Haynesville Shale; all-equity transaction includes debt. (Expected to close mid-2021) |
| Mid | 2/17/21 | Tailwater Capital LLC | NorTex Midstream Partners LLC; Castleton Commodities International LLC | N/A |
Acquired NorTex Midstream, a Castleton Commodities company based in Houston that operates non-utility gas storage facilities and natural gas transportation pipelines in N TX. |
| S&S | 2/18/21 | Baker Hughes Co. | ARMS Reliability | N/A |
To acquire ARMS Reliability and integrate the global provider of reliability solutions to some of the world’s largest industrial companies across a wide range of industries including mining, oil and gas, power, manufacturing and utilities into the Bently Nevada product line within Baker Hughes’ Digital Solutions segment. |
| Mid | 2/22/21 | ArcLight Capital Partners LLC | Kinder Morgan Inc.; Brookfield Infrastructure Partners LP | $830 |
To buy a 25% minority interest in jointly owned Natural Gas Pipeline Co. of America LLC (NGPL). (Expected to close 1Q 2021) |
| E&P | 2/23/21 | U.S. Energy Development Corp. | Undisclosed | N/A |
Acquired interests in the Shetland and WarWink oil development projects in the Delaware Basin of the Permian in Eddy County, NM, and Winkler County, TX. |
| E&P | 2/24/21 | HitecVision AS; NEO Energy | Exxon Mobil Corp. | $1,300 |
To buy nonoperated upstream assets in the U.K. central and northern North Sea comprised of ownership interests and 38,000 boe/d of production in 14 producing fields; transaction includes about $300 MM of contingency payments tied to commodity prices. (Expected to close midyear 2021) |
| E&P | 2/24/21 | WhiteCap Resources Inc. | TORC Oil & Gas Ltd. | CA$552 |
Bought rival Calgary, Alberta-based TORC Oil & Gas in an all-stock deal; includes Cardium development in central Alberta and exposure to the light oil Torquay/Three Forks resource play in SE Saskatchewan. (Completed; PSA announced December 2020) |
| E&P | 2/25/21 | Energean Oil & Gas Plc | Kerogen Capital | $405 |
Acquired the remaining 30% stake in its Israeli offshore fields in the eastern Mediterranean for a $175 MM upfront payment plus a deferred payment of $125 MM to $150 MM upon completion of the Karish project. (Completed; PSA announced December 2020) |
| S&S | 2/25/21 | Pickering Energy Partners | SailingStone Capital Partners LLC | N/A |
To merge with investment firm SailingStone, further expanding its platform into energy transition and ESG across the upstream natural resource space. |
| E&P | 2/25/21 | VAALCO Energy Inc. | Sasol Ltd. | $44 |
Bought 27.8% additional WI in the Etame Marin block offshore Gabon, increasing VAALCO’s total WI to 58.8%. (Completed; PSA announced November 2020) |
| E&P | 2/26/21 | Diamondback Energy Inc. | Guidon Energy; The Blackstone Group Inc. | $862 |
Purchased Guidon Operating, a Midland Basin operator backed by Blackstone, in exchange for about 10.4 MM FANG stock and $375 MM cash; includes 32,500 net acres in the Northern Midland Basin with 3Q 2020 average production of 17,900 boe/d. (Completed; PSA announced December 2020) |
| E&P | 2/26/21 | Riley Exploration Permian Inc.; Tengasco Inc. | Riley Exploration - Permian LLC | N/A |
Acquired through an all-stock merger with PE-backed Riley Exploration - Permian; includes acreage position in the Northwest Shelf in the Permian Basin of 44,880 net acres and average daily production of 7,073 net boe/d (81% oil, 10% natural gas, 9% NGL). (Completed; PSA announced October 2020) |
| S&S | 3/2/21 | Akastor AS | Baker Hughes Co. | $320 |
To form 50:50 offshore drilling JV by merging Baker Hughes’ Subsea Drilling Systems and Akastor’s MHWirth business. (Expected to close 2H 2021) |
| S&S | 3/2/21 | NOW Inc. | GR Energy Services | N/A |
To purchase substantially all of the assets used in connection with GR Energy Services’ Flex Flow business, predominantly relating to the rental, sale and service of surface-mounted horizontal pumping systems and horizontal jet pumping systems. |
| Mid | 3/3/21 | TC Energy Corp. | TC PipeLines LP | $1,680 |
Bought the rest of the natural gas pipelines operator and its indirect subsidiary; TC Energy owns a 23.96% stake in TC PipeLines. (Completed; Announced October 2020) |
| Mid | 3/5/21 | Chevron Corp. | Noble Midstream Partners LP | $1,320 |
To buy any remaining Noble Midstream interests not already owned by Chevron and its affiliates (62.5% stake) in exchange for 0.1393 Chevron shares, valuing the Houston-based pipeline operator at $1.32 B. (Expected to close 2Q 2021) |
| E&P | 3/5/21 | Tamarack Valley Energy Ltd. | Undisclosed | CA$135.3 |
To acquire assets in the Provost and Nipisi areas of Alberta in two separate agreements; comprises approximately 2,800 boe/d of low decline oil weighted assets under waterflood in the Western Canadian Sedimentary Basin. (Expected to close March 25) |
| Mid | 3/5/21 | Undisclosed | Black Bear Transmission LLC | N/A |
Bought BBT AL, owner and operator of a fee-based, natural gas gathering system connecting production in Alabama to regional long-haul pipelines. |
| E&P | 3/8/21 | HitecVision AS | Kerogen Capital | $625 |
Bought Zennor Petroleum, which holds stakes in the British North Sea in the Mungo & Monan, Britannia, Bacchus and Cormorant East producing fields and a 100% operated interest in the Finlaggan development project. |
| E&P | 3/9/21 | Cairn Energy Plc; Cheiron Petroleum Corp. | Royal Dutch Shell Plc | $926 |
To buy upstream assets in Egypt’s Western Desert that includes Shell Egypt’s stake in 13 onshore concessions and its share in the Badr El-Din Petroleum Co. (BAPETCO); base price of $646 MM with additional payments of up to $280 MM subject to oil price and exploration results. (Expected to close 2H 2021) |
| E&P | 3/9/21 | Prime International Oil & Gas Co. | Eni SpA | N/A |
To buy Pakistan oil and gas assets including eight development and production leases in the Kithar Fold Belt and the Middle Indus Basins and four exploration licenses in the Middle Insud and the Indus Offshore basins. |
| Mid | 3/9/21 | Secure Energy Services Inc. | Tervita Corp. | CA$478 |
To buy Calgary, Alberta-based waste management services firm in an all-stock deal. |
| E&P | 3/9/21 | Waldorf Production Ltd. | Cairn Energy Plc | $585 |
To purchase interests in the Catcher and Kraken fields in the UK North Sea; consideration includes up to $125 MM subject to oil price. (Expected to close 2H 2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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