A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Mid | 4/26/21 | Six One Commodities Global LLC; Pinnacle Asset Management LP | Vega Energy Partners Ltd.; WGL Midstream Inc. | N/A |
Purchased Houston-based energy merchant Vega Energy Partners and WGL Midstream, a subsidiary of AltaGas whose assets comprised of natural gas pipelines and storage facilities in the Midwest and Eastern US are managed by Vega. |
| E&P | 4/27/21 | Grayson Mill Energy LLC; EnCap Investments LP | Equinor ASA | $900 |
Acquired 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. (Completed; PSA announced February 2021) |
| S&S | 4/27/21 | Undisclosed | Basic Energy Services Inc. | $8.3 |
To buy certain noncore assets of Basic Energy Services, including heavy-duty trucks, light-duty vehicles, fracturing tanks and certain noncore saltwater disposal wells. |
| E&P | 4/28/21 | Distinction Energy Corp. | Ovintiv Inc. | $236 |
Acquired 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. (Completed; PSA announced February 2021) |
| E&P | 4/30/21 | Diversified Gas & Oil Plc | Indigo Minerals LLC | $135 |
To acquire certain Cotton Valley upstream assets primarily in LA consisting of 780 net operated wells and related facilities; includes production of about 16,000 boe/d or 95 MMcfe/d within the Cotton Valley and Haynesville producing area of NW LA and E TX. (Expected to close May) |
| E&P | 4/30/21 | Enerplus Corp. | Hess Corp. | $312 |
Acquired 78,700 net acres in Dunn County, ND, in the Bakken consisting of largely undeveloped, 100% HBP acreage, about 6,000 boe/d (76% oil, 10% NGL & 14% natural gas) of production and total 230 net undrilled inventory; includes 62.7 MMboe of proved plus probable reserves. (Completed; PSA announced April 2021) |
| E&P | 4/30/21 | Vencer Energy LLC; Vitol Group | Hunt Oil Co. | N/A |
Acquired Hunt Oil’s Midland Basin position comprising 44,000 acres across five counties in W TX and current daily production of approximately 40,000 boe/d. |
| E&P | 5/3/21 | Oasis Petroleum Inc. | Diamondback Energy Inc. | $745 |
To acquire Diamondback’s Williston Basin asset in the Bakken comprising approximately 95,000 net acres with estimated net production of 25,000 boe/d for full-year 2021. (Expected to close July) |
| E&P | 5/3/21 | Undisclosed | Diamondback Energy Inc. | $87 |
To buy, in separate transactions, Diamondback noncore Permian assets approximately 7,000 net acres of southern Midland Basin acreage in Upton County, TX, and 1,300 net acres of nonoperated Delaware Basin assets in Lea County, NM. (Expected to close 2Q 2021) |
| E&P | 5/4/21 | Pioneer Natural Resources Co. | DoublePoint Energy LLC; Double Eagle Energy Holdings LLC; FourPoint Energy LLC | $6,400 |
Acquired the leasehold interests and related assets of DoublePoint Energy covering roughly 97,000 net acres in the Midland Basin in a cash and stock transaction that includes the assumption of $900 MM of debt and liabilities. (Completed; PSA announced April 2021) |
| E&P | 5/6/21 | EQT Corp. | Alta Resources Development LLC | $2,925 |
To acquire all of the membership interests in Alta’s upstream and midstream subsidiaries in the core of the NE Marcellus Shale of the Appalachian Basin; includes 300,000 net acres (98% HBP) in PA and net production of 1 Bcfe/d (100% dry gas). (Expected to close 3Q 2021) |
| E&P | 5/9/21 | Laredo Petroleum Inc. | Sabalo Energy LLC; EnCap Investments LP; Undisclosed | $715 |
To purchase the assets of Sabalo Energy and a nonoperating partner including roughly 21,000 contiguous net acres directly offsetting Laredo’s existing Howard County, TX, leasehold in the Midland Basin of the Permian; current production is about 14,500 boe/d (83% oil, three stream) and PDP reserves are approximately 30 million boe (73% oil, three stream). (Expected to close July 1) |
| E&P | 5/9/21 | Undisclosed; Sixth Street Partners LLC | Laredo Petroleum Inc. | $405 |
To buy operated PDP reserves in gas-weighted legacy assets in Reagan and Glasscock counties, TX, in the Permian Basin; comprises 37.5% of Laredo’s WI in the assets, wellbore WI only, and does not include undeveloped locations. (Expected to close July 1) |
| E&P | 5/10/21 | Bonanza Creek Energy Inc. | Extraction Oil & Gas Inc. | N/A |
To combine in an all-stock merger, forming Civitas Resources, with approximately 425,000 net acres in CO’s D-J Basin, a production base of 117,000 boe/d and aggregate enterprise value of $2.6 B. (Expected to close 3Q 2021) |
| E&P | 5/10/21 | Evolution Petroleum Corp. | Tokyo Gas Americas Ltd.; TG Barnett Resources LP | $19.6 |
Purchased nonoperated oil and gas assets in the Barnett Shale consisting of approximately 21,000 net acres across nine counties in the Barnett Shale Basin of N TX. (Completed; PSA announced March 2021) |
| Renew | 5/12/21 | TGS-NOPEC Geophysical Co. ASA | 4C Offshore Ltd. | N/A |
Acquired Lowestoft, UK-based market intelligence and consultancy firm that provides research and insights to the offshore wind industry with almost 350 clients, serving 2,200 users. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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