A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 10/5/20 | BHP Group Plc | Hess Corp. | $505 |
To acquire Hess' stake comprised of a 28% working interest in the Shenzi Field in the deepwater GoM. (Expected to close by year-end 2020) |
| S&S | 10/5/20 | Caterpillar Inc. | The Weir Group Plc | $405 |
To purchase Weir Group's oil and gas division, which includes more than 40 manufacturing and services locations and about 2,000 employees. |
| E&P | 10/5/20 | Chevron Corp. | Noble Energy Inc. | $13,000 |
Acquired in all-stock transaction Houston-based Noble, which has U.S. shale assets in the Permian, D-J and Eagle Ford basins including a publicly traded midstream business plus international positions in the Eastern Mediterranean and offshore West Africa; includes assumption of $8 B in debt. (Completed; PSA announced July 2020) |
| E&P | 10/5/20 | Lundin Energy AB | Idemitsu Petroleum Norge AS |
$125 |
To buy stakes in several oil discoveries in the Barents Sea adding adding 70 MMboe in reserves; includes 10% stake in the Wisting oil discovery plus increases holdings in the Alta find and Polmak exploration well. |
| S&S | 10/5/20 | Quorum Software | Landdox | N/A |
Acquired Landdox, the leading innovator in cloud-first land technology which will become a key component of Quorum Upstream On Demand. |
| Mid | 10/5/20 | TC Energy Corp. | TC PipeLines LP | $1,480 |
To buy the rest of the natural gas pipelines operator and its indirect subsidiary; TC Energy owns a 23.96% stake in TC PipeLines. |
| E&P | 10/6/20 | Canadian Natural Resources Ltd. | Painted Pony Energy Ltd. | CA$461 |
Acquired Calgary, Alberta-based Painted Pony which holds 187,000 net acres across the NE BC Montney fairway in the Western Canadian Sedimentary Basin producing about 270 MMcf/d of natgas and 4,600 bbl/d of NGL; includes assumption of C$350 MM of debt. (Completed; PSA announced August 2020) |
| E&P | 10/6/20 | Chrysaor Holdings Ltd.; EIG Global Energy Partners; Harbour Energy Ltd. | Premier Oil Plc | $2,700 |
To acquire Premier Oil through a reverse takeover set to create the British North Sea’s largest oil and gas producer; Premier’s approximately US$2.7 billion of total gross debt and certain hedging liabilities will be repaid and cancelled on completion. |
| S&S | 10/12/20 | NTS Group | Amega West Services LLC; Carpenter Technology Corp. | N/A |
Purchased Houston-based service provider focused on the manufacture, repair and rental of legacy and specialized drilling equipment used in offshore and land-based oil and gas extraction applications. |
| E&P | 10/12/20 | Panhandle Oil and Gas Inc. | Red Stone Resources LLC | $6.9 |
Purchased two packages totaling approximately 795 net royalty acres in the SCOOP and Haynesville plays currently producing 1.1 MMcfe/d (6% oil, 1% NGL and 93% natural gas). (Completed; PSA announced August 2020) |
| Mid | 10/13/20 | Citizen Energy LLC; Blue Mountain Midstream LLC | Riviera Resources Inc. | $111 |
Purchased Blue Mountain Midstream, Riviera subsidiary, which provides gathering, processing, transportation and marketing services for oil and gas producers in the Merge/SCOOP/STACK plays within the Midcontinent region of OK. (Completed; PSA announced August 2020) |
| E&P | 10/13/20 | Undisclosed | Riviera Resources Inc. | $26.5 |
Bought interest in N LA properties, consisting of about 100 wells averaging 16 MMcfe/d of net production in 2Q 2020. (Completed in September 2020; PSA announced July 2020) |
| E&P | 10/13/20 | Undisclosed | Riviera Resourcs Inc. | $16 |
Bought interest in certain Anadarko Basin properties including approximately 2,100 wells located in 14 counties throughout central and NW OK averaging about 28 MMcfe/d of production. (Completed; PSA announced August 2020) |
| Mid | 10/16/20 | Zenith Energy | Plains All American Pipeline LP | N/A |
Purchased three interconnected West Coast terminals including terminals with 8.2 MMbbl of aggregate storage capacity in Los Angeles County, CA, commonly referred to as the Long Beach, Dominguez Hills and Alamitos Terminals, in addition to approximately 50 miles of bi-directional pipeline. |
| 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) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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