A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 10/19/20 | ConocoPhillips Co. | Concho Resources Inc. | $9,700 |
To acquire Permian pure-play Concho Resources in an all-stock deal that swaps 1.46 shares of ConocoPhillips for each Concho share; includes a roughly 800,000 gross (550,000 net) acre position in both the Delaware and Midland sub-basins. (Expected to close 1Q 2021) |
| E&P | 10/20/20 | Pioneer Natural Resources Co. | Parsley Energy Inc.; Quantum Energy Partners | $7,600 |
To acquire Permian pure-play Parsley Energy in an all-stock deal with a fixed exchange ratio of 0.1252 shares of Pioneer common stock for each share of Parsley stock owned and the assumption of $3.1 B of debt; includes 248,000 net leasehold acres in the Midland and Delaware sub-basins. (Expected to close 1Q 2021) |
| E&P | 10/22/20 | Laredo Petroleum Inc. | Undisclosed | $11.3 |
Purchased 2,758 net acres in the Permian's Midland sub-basin adjacent to existing acreage in Howard County, TX, with 210 boe/d (80% oil) of production. |
| E&P | 10/25/20 | Cenovus Energy Inc. | Husky Energy Inc. | CA$3,800 |
To acquire Calgary, Alberta-based Husky Energy in an all-stock merger. (Expected to close 1Q 2021) |
| E&P | 10/26/20 | Contango Oil & Gas Co. | Mid-Con Energy Partners LP | N/A |
To buy Tulsa, OK-based Mid-Con Energy in an all-stock merger; includes conventional assets in OK and WY. (Expected to close by early 2021) |
| E&P | 10/26/20 | IPR Energy Group | Dana Gas | $236 |
To purchase onshore Egyptian producing assets (production over 80% gas); includes 100% interest in the El Manzala, West El Manzala, West El Qantara and North El Salhiya concessions. (Expected to close early 2021) |
| Mid | 10/27/20 | DTE Midstream | DTE Energy Co. | N/A |
To spin off its gas pipeline business, which transports natural gas extracted from shale basins in Appalachia and LA, into a publicly-traded company. (Expected to close mid-2021) |
| E&P | 10/27/20 | EQT Corp. | Chevron Corp. | $735 |
To acquire Appalachia upstream and midstream assets; includes 335,000 total net acres in the Marcellus Shale with current net production of about 450 MMcfe/d plus 31% ownership interest in Laurel Mountain Midstream. (Expected to close 4Q 2020) |
| E&P | 10/28/20 | Undisclosed | Harvest Oil & Gas Corp. | $20.5 |
Purchased Appalachian Basin assets representing substantially all of the assets of Harvest in a cash and stock transaction; includes assets in the Utica Shale located across OH, PA and WV. (Completed; PSA announced July 2020) |
| Mid | 11/2/20 | Berkshire Hathaway Inc. | Dominion Energy Inc. | $9,700 |
Bought Dominion's natural gas transmission and storage business; includes over 7,700 miles of natural gas transmission lines, with about 20.8 Bcf/d of transportation capacity and 900 Bcf of operated natural gas storage with 364 Bcf of company-owned working storage capacity, and partial ownership of a LNG export facility plus assumption of $5.7 B debt. (Completed; PSA announced July 2020) |
| Mid | 11/2/20 | BWC Terminals LLC | NuStar Energy LP | $106 |
To buy terminals in Texas City, TX, with petrochemical and petroleum capabilities. (Expected to close 4Q 2020) |
| S&S | 11/2/20 | Dresser Natural Gas Solutions (NGS) | Flow Safe Inc. | N/A |
Purchased Flow Safe, a leading manufacturer of spring-operated and pilot-operated high-performance pressure relief devices based in Orchard Park, NY. |
| S&S | 11/2/20 | Lufkin Industries LLC; KPS Capital Partners LP | Schlumberger Ltd. | N/A |
Purchased Schlumberger’s rod-lift business with an expansive footprint across all major oil-producing regions onshore in North America, including the Permian Basin; includes Don-Nan, Shores Lift Solutions, KBA Engineering, Platinum Pumpjack Services and RLC Rod Lift Consulting. |
| S&S | 11/3/20 | Baker Hughes Co. | Compact Carbon Capture AS (3C) | N/A |
To buy Norway-based 3C, a pioneering technology development company specializing in carbon capture solutions. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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