A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| 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. |
| E&P | 3/3/21 | Waterous Energy Fund | Osum Oil Sands Corp. | CA$171 |
Acquired Canadian oil producer Osum Oil Sands in a takeover deal. |
| E&P | 3/3/21 | IOG Capital LP | Sequel Energy Group LLC | N/A |
Purchased certain producing OH Utica properties consisting of nonop working interests in 77 producing horizontal wells operated by Southwestern Energy and Ascent Resources with net production of approximately 75 MMcfe/d (85% gas). |
| 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) |
| E&P | 3/10/21 | Enerplus Corp. | Bruin E&P Partners LLC; ArcLight Capital Partners LLC | $465 |
Acquired all of the shares of Bruin E&P HoldCo, which holds 151,000 net acres in the Williston Basin, all located within ND, with current production of about 24,000 boe/d, 84.1 MMboe of proved plus probable reserves and an inventory of 149 gross (111 net) drilling locations. (Completed; PSA announced January 2021) |
| S&S | 3/11/21 | Frank's International NV | Expro Group | N/A |
To acquire the UK-based service company in an all-stock deal; combined company will assume the Expro Group name but also retain the Frank’s International brand name for its well construction solutions. (Expected to close 3Q 2021) |
| E&P | 3/18/21 | Ineos E&P AS | Hess Corp. | $150 |
To purchase Hess Denmark ApS, which holds a 61.5% interest in the South Arne Field offshore in the Danish North Sea; Production net to Hess averaged 5,800 boe/d in 4Q 2020. (Expected to close 3Q 2021) |
| S&S | 3/22/21 | Argonaut Private Equity; American Well Services | Pioneer Natural Resources Co. | N/A |
Acquired Pioneer Well Services, a subsidiary of Pioneer Natural Resources that provides well service rigs for workover or completions operations and wellsite support services in the Permian Basin, which will now d/b/a American Well Services in partnership with Nichols Oil Tools. |
| Renew | 3/22/21 | Eni SpA | FRI-EL Greenpower SpA | N/A |
To buy biogas producer FRI-EL Biogas Holding, which owns 21 plants generating electricity from biogas and a plant for processing OFMSW in Italy. |
| Mid | 3/22/21 | Oasis Midstream Partners LP | Oasis Petroleum Inc. | $510 |
To purchase Oasis' remaining interests in Bobcat DevCo LLC and Beartooth DevCo LLC plus eliminate IDRs from its capital structure in exchange for $229 MM in cash and 14.8 million OMP common units. (Expected to close March 2021) |
| E&P | 3/23/21 | LOLA Energy LLC; LOLA Energy III LLC | Undisclosed | N/A |
Acquired 100% of equity membership interests of an E&P company with operations in Butler County, PA, rebranded as LOLA Energy PetroCo LLC; roughly 22,000 net mineral acres of oil and gas leases in the NGL-rich window of the Marcellus and Burkett shale within the Appalachian Basin. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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