A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Renew | 10/17/22 | BP Plc | Archaea Energy Inc. | $4,100 |
To purchase Houston-based RNG producer, Archaea, which operates about 50 RNG and landfill gas-to-energy facilities across the US, for $3.3B in cash plus the assumption of $800MM net debt. (Expected to close by year-end) |
| E&P | 10/17/22 | Omega Acquisition Inc. (Harold Hamm) | Continental Resources Inc. | $4,300 |
To acquire Oklahoma City-based Continental with shale assets across the Bakken of ND and MT, Anadarko Basin of OK, Powder River Basin of WY and Permian Basin in W TX; merger agreement is a take-private offer by entity owned by founder and chairman Harold Hamm. (Expected to close by year-end) |
| E&P | 10/19/22 | Northern Oil and Gas Inc. | Midland-Petro D.C. Partners LLC (MPDC) | $330 |
|
| Mid | 10/19/22 | Shell Plc; Shell USA Inc. | Shell Midstream Partners LP | $1,960 |
Purchased all remaining interests in Shell Midstream Partners held by the public at $15.85 per public common unit in cash; currently owns roughly 68.5% of Shell Midstream Partner common units. (Completed; PSA announced July 2022) |
| Down | 10/20/22 | Par Pacific Holdings Inc. | Exxon Mobil Corp. | $310 |
To buy 63,000 bbl/d Billings oil refinery and select midstream assets in MT and WA including the Silvertip pipeline, Exxon Mobil’s interest in the Yellowstone pipeline and Yellowstone Energy LP, and its interests in product terminals in both states. (Expected to close 2Q 2023) |
| Renew | 10/21/22 | Energy Capital Partners | Ørsted | $410 |
Purchased a 50 % ownership stake in onshore wind farms Lincoln Land Wind, Plum Creek Wind and Willow Creek Wind plus the solar farm Muscle Shoals located in IL, NE, SD and AL. |
| S&S | 10/26/22 | SLB | Gyrodata Inc. | N/A |
To acquire Houston-based Gyrodata and integrate the company’s wellbore placement and surveying technologies within SLB’s well construction business. (Expected to close year-end 2022) |
| Renew | 10/28/22 | NextEra Energy Inc. | Energy Power Partners Fund I LP; North American Sustainable Energy Fund LP | $1,100 |
To acquire large portfolio of operating landfill gas-to-electric facilities with plans to convert into RNG. |
| E&P | 10/31/22 | Journey Energy LLC | Enerplus Corp. | CA$140 |
Bought certain Canadian assets located in Alberta including Ante Creek and Medicine Hat operations along with its broad interests in the West Five and West Six areas of Alberta. (Completed; PSA announced July 2022) |
| E&P | 10/31/22 | Land Run Minerals V LLC; 89 Energy Holdings LLC; Kayne Anderson Capital Advisors LP | Undisclosed | N/A |
Purchased 55,000 net royalty acres (normalized to 1/8th), 1,715 wells with an average net revenue interest of 1.6% and net production of 4,500 boe/d in Kingfisher, Canadian and Blaine Cos. OK. |
| S&S | 10/31/22 | Veritas Capital | Wood Mackenzie Ltd.; Verisk | $3,300 |
To purchase analytics company Wood Mackenzie; transaction includes additional contingent consideration of up to $200 MM. (Expected to close 1Q 2023) |
| E&P | 11/1/22 | Peregrine Energy Partners | Undisclosed | N/A |
Purchased producing and non-producing oil and gas royalty interests in the Utica Shale across Carroll, Columbiana and Jefferson Cos., OH, from multiple sellers. |
| E&P | 11/2/22 | Kimbell Royalty Partners LP | Hatch Royalty LLC | $290 |
To buy approximately 889 net royalty acres on 230,000 gross acres in there Permian Basin located in the Delaware Basin (90%) and Midland Basin (10%). (Expected to close 4Q 2022) |
| S&S | 11/2/22 | Liberty Lift Solutions LLC | Spooling Technology LLC | N/A |
Purchased the assets of Spool Tech located in Dickinson, ND, servicing the Bakken. |
| E&P | 11/2/22 | Marathon Oil Corp. | Ensign Natural Resources LLC; Warburg Pincus LLC; Kayne Private Energy Income Funds LP | $3,000 |
To acquire Ensign Eagle Ford assets comprising 130,000 net acres, more than 600 undrilled locations and 67,000 net boe/d of production spanning Live Oak, Bee, Karnes and Dewitt counties, TX. (Expected to close year-end 2022) |
| S&S | 11/2/22 | Select Energy Services Inc. | Breakwater Energy Partners LLC; Cypress Environmental Services LLC | N/A |
Acquired Breakwater Energy Partners LLC, along with water gathering pipeline and disposal assets from Cypress Environmental Services LLC in the Bakken Shale. |
| E&P | 11/2/22 | Surge Energy Inc. | Enerplus Corp. | CA$245 |
To buy Alberta and Saskatchewan assets focused entirely within within Surge’s Sparky and SE Saskatchewan core areas; includes production of roughly 3,000 boe/d (99% crude oil) on a net after deduction of royalties basis. (Expected to close December) |
| S&S | 11/3/22 | Voyager Interests | Knight Energy Services; Clearlake Capital Group LP | N/A |
Purchased Houston-based Knight Energy Services, one of the largest rental tool companies serving the U.S. oil and gas industry. |
| S&S | 11/7/22 | Mesquite Technologies Inc. | OspreyData Inc. | N/A |
Acquired OspreyData, an artificial lift production optimization software company headquartered in Austin, TX. |
| E&P | 11/7/22 | Undisclosed | Diamondback Energy Inc. | $155 |
Purchased approximately 3,250 net acres in the Delaware Basin (noncore to Diamondback), with net production of about 550 bbl/d of oil (800 boe/d). |
| Renew | 11/9/22 | Chart Industries | Howden; KPS Capital Partners LP | $4,400 |
To acquire Howden, a leading global provider of mission critical air and gas handling products and services. (Expected to close 1H 2023) |
| E&P | 11/10/22 | Pantheon Resources Plc | State of Alaska | $4.3 |
Purchased approximately 40,000 acres in the State of Alaska's North Slope Areawide Lease sale with winning bids average $28 per acre. |
| Renew | 11/15/22 | BlackRock Alternatives | Jupiter Power LLC; EnCap Investments LP | N/A |
To buy Austin, TX-based operator and developer of stand-alone, utility-scale battery energy storage systems Jupiter Power. (Expected to close in late 2022) |
| E&P | 11/15/22 | TotalEnergies SE; ConocoPhillips Co. | Hess Corp. | N/A |
Purchased Hess’ 8.16% interest in the Waha Concession in Libya in equal shares; increases TotalEnergies’ interest in the Waha Concessions increased to 20.41% from 16.33%. (Completed; PSA announced November 2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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