A&D DEAL SHEET |
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|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 2/8/21 | Gondola Resources LLC | SandRidge Energy Inc. | $47 |
Bought SandRidge’s North Park Basin asset comprised of 93,000 net acres targeting multiple Niobrara benches in Jackson County, CO. (Completed; PSA announced December 2020) |
| S&S | 2/9/21 | Kentech Corporate Holdings Ltd.; Blue Water Energy LLP | SNC-Lavalin Group Inc. | N/A |
To buy the SNC-Lavalin oil and gas business, including Services and Lump-Sum Turnkey. (Expected to close 2Q 2021) |
| E&P | 2/9/21 | Panoro Energy ASA | Tullow Oil Plc | $180 |
To buy stakes in nonoperated offshore oil fields in Equatorial Guinea and Gabon; includes 6,900 bbl/d net production. |
| E&P | 2/10/21 | ARC Resources Ltd. | Seven Generations Energy Ltd. | CA$2,700 |
To acquire Calgary, Alberta producer Seven Generations; includes 528,000 net acres in the Montney Shale with 180-185 Mboe/d of 2021 production. |
| E&P | 2/10/21 | Grayson Mill Energy LLC; EnCap Investments LP | Equinor ASA | $900 |
To acquire Equinor’s interests in the Bakken field; includes operated and nonoperated acreage, totaling 242,000 net acres, and associated midstream assets in North Dakota and Montana with production of 48,000 boe/ (net of royalty interests) for 4Q 2020. |
| 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) |
| 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’ MHWirth business. (Expected to close 2H 2021) |
| 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) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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