Also, Basic Energy Services acquired NexTier’s production operations, known as C&J Well Services, which is the third-largest rig servicing provider in the U.S. (Source: Shutterstock.com; C&J Energy Services)
A&D DEAL SHEET
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|
Sector |
Date |
Buyer |
Seller |
Value |
Comments |
|
E&P |
3/2/20 |
Talos Energy Inc. |
ILX Holdings LLC; Castex Energy LLC; Venari Resources LLC |
$640 |
Acquired a broad portfolio of US GoM producing assets, exploration prospects and acreage including over 40 identified exploration prospects located on a total acreage footprint of roughly 700,000 gross acres; 3Q 2019 production was bout 19,000 boe/d (65% oil and over 70% liquids). (Completed ILX agreement Feb. 28; agreement with Venari previously closed; PSAs announced December 2019) |
|
S&S |
3/3/20 |
The Chatterjee Group; Rhône Capital |
McDermott International Inc. |
$2,725 |
To purchase all of the Lummus Technology business first made as a stalking-horse bid as part of a bankruptcy process. |
|
E&P |
3/4/20 |
W&T Offshore Inc. |
ConocoPhillips Co. |
N/A |
To buy the remaining 25% working interest in the Magnolia Field, located in the central region of the deepwater US GoM, offshore LA. (Expected to close March 31) |
|
E&P |
3/5/20 |
Crestone Peak Resources LLC; Canada Pension Plan Investment Board; The Broe Group |
ConocoPhillips Co. |
$380 |
Acquired Niobrara assets located in the southern D-J Basin with 11,000 boe/d of production for 2019; includes about 98,000 net acres in NE CO. |
|
E&P |
3/5/20 |
Navitas Petroleum US LLC |
Denbury Resources Inc. |
$50 |
Bought 50% WI in four SE TX oil fields consisting of Webster, Thompson, Manvel and East Hastings. (Completed; PSA announced December 2019) |
|
E&P |
3/5/20 |
U.S. Energy Corp. |
New Horizon Resources LLC |
$0.4 |
Bought New Horizon Resources in a cash and stock transaction; includes assets in a mature Williston Basin field, primarily in McKenzie and Divide counties, ND. |
|
E&P |
3/5/20 |
Undisclosed |
ConocoPhillips Co. |
N/A |
Purchased the Waddell Ranch property, a conventional asset located in the Permian Basin with associated production associated of 4,000 boe/d for 2019. |
|
E&P |
3/6/20 |
International Petroleum Corp. |
Granite Oil Corp. |
$59 |
Acquired Calgary, Alberta-based Granite and its light oil position in the Alberta Bakken play; includes assumption of debt. (Completed; PSA announced January 2020) |
|
E&P |
3/6/20 |
WPX Energy Inc. |
Felix Energy Holdings II LLC; EnCap Investments LP |
$2,500 |
Acquired PE-backed Felix Energy II, which has a 58,500 net acre position in the Permian's Delaware Basin in W TX projected to be producing about 60,000 boe/d (70% oil) at time of closing. (Completed; PSA announced December 2019) |
|
S&S |
3/9/20 |
Basic Energy Services Inc. |
NexTier Oilfield Solutions Inc. |
$94 |
Purchased the production operations from NexTier Oilfield Solutions, known as C&J Well Services, which is the third-largest rig servicing provider in the US. |
|
Source: HartEnergy.com |
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For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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