A&D DEAL SHEET |
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|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| 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 | 5/5/21 | Undisclosed | Callon Petroleum Co. | $40 |
Purchased in multiple purchase and sale agreements natural gas-producing properties in the western Delaware Basin of the Permian plus a small undeveloped acreage position; current production is approximately 3,400 boe/d (25% oil). |
| 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) |
| Mid | 5/11/21 | Chevron Corp. | Noble Midstream Partners LP | $1,320 |
Bought 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. (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. |
| E&P | 5/17/21 | BCE-Mach III LLC; Mach Resources LLC; Bayou City Energy Management LLC | Cimarex Energy Co. | N/A |
To buy producing properties within the Midcontinent region in western and southern OK and the TX Panhandle; includes two gas gathering and processing assets located in southern OK. (Expected to close June) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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