A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| S&S | 10/25/21 | Wilks Brothers LLC | Dawson Geophysical Co. | N/A |
To buy the Midland, TX-based provider of onshore seismic data acquisition services in both Canada and the Lower 48 through a tender offer for all of its outstanding common shares for $2.34 per share in cash. (Expected to close 4Q 2021) |
| Mid | 10/26/21 | Crestwood Equity Partners LP | Oasis Midstream Partners LP; Oasis Petroleum Inc. | $1,800 |
To acquire 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. (Expected to close 1Q 2022) |
| Mid | 10/27/21 | Phillips 66 Co. | Phillips 66 Partners LP | $3,400 |
To buy remaining Phillips 66 Partners units not already owned as part of an all-stock, MLP simplification transaction. (Expected to close 1Q 2022) |
| E&P | 11/1/21 | Chesapeake Energy Corp. | Vine Energy Inc.; Blackstone Energy Partners LP | $2,200 |
Acquired Vine, an energy company focused on the development of natural gas properties in the overpressured stacked Haynesville and Mid-Bossier shale plays in NW LA. (Completed; PSA announced August 2021) |
| E&P | 11/1/21 | Civitas Resources Inc.; Bonanza Creek Resources Inc. | Extraction Oil & Gas Inc. | $1,400 |
Acquired through 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. (Completed; PSA announced May 2021) |
| E&P | 11/1/21 | Civitas Resources Inc. | Crestone Peak Resources LLC; Canada Pension Plan Investment Board | N/A |
Acquired privately held Crestone Peak in an all-stock transaction; pro forma company will operate across more than half a million net acres in the D-J Basin with estimated production base of approximately 160,000 boe/d and year-end 2020 proved reserves of more than 530 million boe. (Completed; PSA announced June 2021) |
| E&P | 11/1/21 | PHX Minerals Inc. | Undisclosed | $1.2 |
Bought approximately 220 net royalty acres located primarily in OK’s Stephens County in the same area of the SCOOP Springboard III play. |
| E&P | 11/1/21 | Undisclosed | PHX Minerals Inc. | $2.1 |
Purchased package of 499 nonoperated legacy working interest wellbores located in AR’s Fayetteville Shale; mineral rights not included in transaction. |
| EE&P | 11/2/21 | Earthstone Energy Inc. | Undisclosed | $73.2 |
Acquired privately held operated assets located in the Midland Basin with average daily production of 4,400 boe/d (26% oil, 52% liquids) for September and associated reserves of approximately 13.3 MMboe (11% oil, 31% NGL, 58% natural gas) plus 10,000 net acres (100% operated; 67% HBP) in Irion County, TX. (Completed; PSA announced October 2021) |
| Mid | 11/2/21 | Superior Pipeline Co. LLC | Undisclosed | N/A |
Purchased natural gas gathering and processing assets consisting of an approximately 1,620-mile gathering system and an 85 MMcf/d cryogenic processing plant located in central KS. |
| E&P | 11/2/21 | Undisclosed | Enerplus Corp. | $120 |
Purchased interests in MT’s Sleeping Giant Field and ND’s Russian Creek area in the Williston Basin; transaction includes up to $5 MM in contingent payments tied to future oil prices. (Completed; PSA announced August 2021) |
| Mid | 11/3/21 | Brazos Midstream Holdings LLC | Diamondback Energy Inc.; Rattler Midstream LP | $147 |
Purchased, in separate transactions, the Mustang Springs Gas Gathering System in the northern Midland Basin and the Pecos Gas Gathering System in the southern Delaware Basin of the Permian. |
| E&P | 11/3/21 | Continental Resources Inc. | Pioneer Natural Resources Co. | $3,250 |
To acquire Pioneer’s Delaware Basin position in the Permian covering approximately 92,000 net acres in Pecos, Reeves, Ward and Winkler Cos. in W TX with net production of approximately 50,000 boe/d and over 650 gross operated locations in Third Bone Spring/Wolfcamp A and B. (Expected to close 4Q 2021) |
| E&P | 11/3/21 | Crescent Pass Energy LLC | Undisclosed | N/A |
Bought operated and nonoperated assets in E TX including approximately 60,000 net acres flowing roughly 12.5 MMcfe/d of natural gas weighted production across a region with multiple producing horizons. |
| E&P | 11/4/21 | Southwestern Energy Co. | GEP Haynesville LLC; GeoSouthtern Energy Corp.; GSO Capital Partners LP | $1,850 |
To acquire GEP Haynesville, the third largest private Haynesville operator, in a cash-and-stock transaction; includes 226,000 net effective acres with estimated net resource potential of 6 Tcfe, approximately 700 MMcf/d of production and 700 locations. (Expected to close year-end 2021) |
| E&P | 11/7/21 | Colgate Energy Partners III LLC | Undisclosed | $190 |
To purchase approximately 22,000 net acres directly offset Colgate’s existing position in the northern Delaware Basin of the Permian in Eddy and Lea counties, NM; includes 750 boe/d of estimated average net production and over 200 “high-quality locations.” (Expected to close 1Q 2022) |
| E&P | 11/8/21 | Ensign Natural Resources LLC | Reliance Eagleford Upstream Holding LP; Reliance Industries Ltd. | N/A |
Bought Reliance’s Eagle Ford Shale position covering approximately 62,000 net acres in Bee, DeWitt, Karnes and Live Oak counties in S TX and current net production of roughly 18,000 boe/d. |
| S&S | 11/10/21 | Noble Corp. | Maersk Drilling AS | $3,400 |
To acquire through a combination with Denmark’s Maersk Drilling to form one of the world’s largest offshore oil drilling rig companies based in Houston with a market cap of roughly $3.4 B. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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