A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 1/31/22 | Earthstone Energy Inc. | Bighorn Permian Resources LLC | $860 |
To acquire privately held Bighorn, which has approximately 110,600 net acres (98% operated, 93% working interest, 99% HBP) in the Midland Basin, primarily in Reagan and Irion counties, TX, and average production of 42,400 boe/d (25% oil, 57% liquids). (Expected to close 2Q 2022) |
| E&P | 2/1/22 | Civitas Resources Inc. | Bison Oil & Gas II LLC; Carnelian Energy Capital Management LP | $346 |
To acquire D-J Basin operator Bison II in cash-and-stock transaction that includes assumption of $176MM in debt and other liabilities; Bison II holds leases covering roughly 40,000 net acres, production of about 9,000 boe/d (75% oil and 90% liquids) and 102 gross locations. (Expected to close 1Q 2022) |
| Mid | 2/1/22 | Crestwood Equity Partners LP | Oasis Midstream Partners LP; Oasis Petroleum Inc. | $1,800 |
Acquired Oasis Petroleum’s midstream affiliate with assets are located in the heart of the oil-rich Bakken and Permian basins; equity and cash transaction includes assumption of $660 MM in outstanding debt. (Completed; PSA announced October 2021) |
| Mid | 2/1/22 | UGI Corp. | Stonehenge Energy Resources LP | $190 |
Purchased the Stonehenge Appalachia natural gas gathering system in Butler County, PA, comprising more than 47 miles of pipeline and associated compression assets and gathering capacity of 130 MMcf/d. (Completed; PSA announced January 2022) |
| E&P | 2/2/22 | W&T Offshore Inc. | Ankor E&P Holdings Corp. | $47 |
Acquired working interests in and operatorship of oil and gas producing properties in federal shallow waters in the central region of the US GoM; includes approximately 3,400 boe/d (74% oil) and average working interest of 80%. (Completed; PSA announced January 2022) |
| Mid | 2/3/22 | Undisclosed | Targa Resources Corp. | $857 |
To buy Targa’s 25% equity interest in the Gulf Coast Express Pipeline, a 2 Bcf/d natural gas pipeline transports natural gas from the Permian Basin to outside Corpus Christi on the TX Gulf Coast. |
| E&P | 2/8/22 | Whiting Petroleum Corp. | Undisclosed | $237 |
To buy nonoperated assets in the Williston Basin’s Sanish Field; includes 14,563 net acres in Mountrail County, ND, and about 4,500 boe/d (67% oil) of production. (Smaller transaction closed 4Q 2021, larger deal expected to close 1Q 2022) |
| E&P | 2/9/22 | Evolution Petroleum Corp. | Exaro Energy III LLC | $29.4 |
To acquire nonoperated natural gas assets in the Jonah Field in Sublette County, WY; includes working interest in 648 producing wells and approximately 1,040 net acres producing about 14.2 MMcfe/d. (Expected to close April) |
| E&P | 2/10/22 | Brigham Minerals Inc. | Undisclosed | $32.5 |
To acquire in a cash-and-stock transaction roughly 1,800 net royalty acres in the Midland Basin of the Permian and production of 225,000-275,000 boe/d of production estimated for 2022. (Expected to close April) |
| Renew | 2/10/22 | TotalEnergies SE | SunPower Corp. | $250 |
To purchase SunPower’s commercial and industrial solutions business in the US. (Expected to close 2Q 2022) |
| Mid | 2/14/22 | EverWind Fuels LLC | NuStar Energy LP | $60 |
To buy a 7.8 million-barrel storage terminal located at Point Tupper on the Strait of Canso, near Port Hawkesbury, Nova Scotia. (Expected to close 1H 2022) |
| E&P | 2/15/22 | Earthstone Energy Inc. | Chisholm Energy Holdings LLC; Warburg Pincus LLC | $604 |
Acquired privately held Permian Basin operator with approximately 36,100 net acres and a drilling inventory of 414 gross (237 net) operated identified locations in the northern Delaware Basin in Eddy and Lea Cos., NM; current net production is about 13,500 boe/d (61% oil, 79% liquids). (Completed; PSA announced December 2021) |
| E&P | 2/16/22 | Crescent Energy Co.; KKR & Co. Inc. | Verdun Oil Co. II LLC; EnCap Investments LP | $815 |
To buy in an all-cash transaction 145,000 contiguous net acres (>85% HBP) and over 400 producing vertical and horizontal wells, primarily located in Duchesne and Uintah counties, UT. (Expected to close 1H 2022) |
| E&P | 2/17/22 | ConocoPhillips Co. | Origin Energy Ltd. | $1,645 |
Purchased an additional 10% shareholding interest in Australia Pacific LNG as part of its preemption right; ConocoPhillips currently holds a 37.5% APLNG shareholding interest and would own 47.5% of APLNG upon closing. (Completed; PSA announced December 2021) |
| Mid | 2/17/22 | Enterprise Products Partners LP | Navitas Midstream Partners LLC; Warburg Pincus LLC | $3,250 |
Acquired The Woodlands, TX-based Navitas backed by Warburg Pincus; includes approximately 1,750 miles of pipelines and over 1 Bcf/d of cryogenic natural gas processing capacity in the Midland Basin of the Permian. (Completed; PSA announced January 2022) |
| E&P | 2/21/22 | Undisclosed | APA Corp. | $805 |
To purchase mineral rights in the Delaware Basin in the Permian with about 7,000 boe/d of production. (Expected to close February) |
| Mid | 2/22/22 | Clearfork Midstream LLC; EnCap Flatrock Midstream LLC | Azure Midstream Energy LLC | N/A |
Acquired Azure Midstream, which has a natural gas gathering and treating platform spanning the core areas of the Haynesville Shale formation and includes more than 500 miles of pipeline and 1.2 Bcf/d of treating capacity across systems in N LA and E TX. (Completed; PSA announced January 2022) |
| Mid | 2/22/22 | Kinetik Holdings Inc.; EagleClaw Midstream Ventures LLC | Altus Midstream Co.; APA Corp. | N/A |
Acquired Altus Midstream in an all-stock business creating the largest pure-play midstream company in the Permian Basin focused primarily in the southern Delaware Basin in W TX. (Completed; PSA announced October 2021) |
| E&P | 2/25/22 | Seplat Energy Plc | Exxon Mobil Corp. | $1,280 |
To buy Exxon Mobil Nigerian offshore shallow-water business, which includes the Mobil Development Nigeria and Mobil Exploration Nigeria equity ownership of Mobil Producing Nigeria Unlimited with more than 90 shallow-water and onshore platforms and 300 producing wells. |
| Renew | 2/28/22 | Chevron Corp. | Renewable Energy Group Inc. | $3,000 |
To buy biodiesel maker Renewable Energy Group based in Ames, IA, in an all-cash transaction. (Expected to close 2H 2022) |
| E&P | 2/28/22 | PDC Energy Inc. | Great Western Petroleum LLC | $1,300 |
To acquire the privately held D-J Basin operator owned by affiliates of EIG, TPG Energy Solutions LP and The Broe Group; includes 54,000 net acres in the Wattenberg primarily in Adams County, CO, about 55,000 boe/d (42% oil / 67% liquids) of PDP and 315 operated locations. (Expected to close 2Q 2022) |
| Mid | 3/1/22 | Pembina Pipeline Corp. | KKR & Co. Inc. | CA$11,400 |
To form JV through combination of Western Canadian gas processing assets; includes Pembina's field-based natural gas processing assets, the Veresen Midstream business and Energy Transfer Canada. (Expected to close 2Q or 3Q 2022) |
| Mid | 3/1/22 | Pembina Pipeline Corp.; KKR & Co. Inc. | Energy Transfer LP | CA$1,600 |
To acquire the remaining 51% interest in Energy Transfer Canada, which is one of Alberta’s largest licensed gas processors with natural gas gathering and transportation infrastructure assets in the Western Canadian Sedimentary Basin. (Expected to close 3Q 2022) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
Recommended Reading
E&P Highlights: Nov. 25, 2024
2024-11-25 - Here’s a roundup of the latest E&P headlines, including North Sea production updates as well as major offshore contracts and a transfer of interests by Exxon in Suriname.
More Oil, Gas Exploration Needed Now—WoodMac
2024-11-25 - New discoveries can reduce costs and emissions intensity while delivering value for resource holders and explorers, Wood Mackenzie analysts said.
Exclusive: CNX Exec Says NatGas Goes Far Beyond Data Center Needs
2024-11-25 - As a resilient energy source, no other solution comes close to providing the dependable power of natural gas, CNX New Technologies President Ravi Srivastava told Hart Energy.
Vivakor Expands Crude Gathering Network in Oklahoma STACK
2024-11-25 - Midstream company Vivakor is building its network following the October acquisition of Endeavor Crude.
EON Resources Postpones Annual Meeting to December
2024-11-25 - EON Resources is putting off its annual stockholders meeting in anticipation of not having a sufficient number of shares of its common stock represented by the original deadline.
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.