A&D DEAL SHEET |
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|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 8/22/22 | Brigham Minerals Inc. | Avant Natural Resources LLC | $132.5 |
To purchase about 3,900 net royalty acres in the Permian in the core of the Mineral Basin in Martin and Midland counties, TX; includes 253 gross wells spud over the last 12-months and 2023 estimated production totaling between 750 and 950 boe/d (60% oil). (Expected to close mid-October) |
| E&P | 8/22/22 | Undisclosed | Riverbend Energy Group | $1,800 |
Bought affiliates Riverbend Oil & Gas VI, VI-B and VIII comprising nonoperated assets in multiple shale plays including the Bakken within the Williston Basin plus the Fayetteville, Haynesville and Utica shales; assets produce an average of 47,000 boe/d from 11,000 wells. (Completed; PSA announced June 2022) |
| Mid | 8/24/22 | Diamondback Energy Inc. | Rattler Midstream LP | $575.2 |
Purchased to acquire all of the publicly held common units representing the LP interests in Rattler not already owned by Diamondback and its subsidiaries in exchange for 0.113 of a share of common stock in Diamondback. (Completed; PSA announced May 2022) |
| S&S | 8/25/22 | Gulf Coast Sand LLC | Shale Support LLC | N/A |
Purchased assets originating from Shale Support comprising two fluid bed driers, 10 mineral separators and 24,000 thousand tons of silo storage, all paired with truck and unit rail train load out capabilities, serving the US Gulf Coast. |
| E&P | 8/25/22 | LRG Energy LLC | Bjorger Cos. | N/A |
Purchased 800 wells and integrated saltwater disposal wells in the TX Panhandle in Carson, Gray, Hutchinson, Hansford, Moore and Sherman Cos. plus N TX in Montague, Stephens and Wise Cos.; includes 35,000 acres. |
| E&P | 8/29/22 | Helix Energy Solutions Group Inc. | Murphy Oil Corp. | $16 |
Purchased 62.5% interest in Mississippi Canyon Block 734 comprises three wells and related subsea infrastructure, collectively known as the Thunder Hawk Field, located in the US GoM. |
| S&S | 8/30/22 | Aker Solutions ASA | Schlumberger Ltd.; Subsea 7 SA | $700.5 |
To form a JV by combining Schlumberger’s and Aker Solutions’ subsea businesses with Subsea 7 as an equity partner in the new JV; combined business will have approximately 9,000 employees globally and generate an estimated synergy potential of more than $100 million per annum. (Expected to close 2H 2023) |
| E&P | 9/1/22 | IKAV | Exxon Mobil Corp.; Shell Plc; Aera Energy LLC | $4,000 |
To purchase Aera Energy, formerly a JV between Exxon Mobil and Shell and one of CA’s largest oil and gas producers; includes 13,000 wells in the San Joaquin Valley producing about 95,000 boe/d. (Expected to close 4Q 2022) |
| E&P | 9/1/22 | Permian Resources Corp. | Colgate Energy Partners III LLC; Centennial Resource Development Inc. | $3,900 |
Acquired Stronghold Energy II Operating LLC and Stronghold Energy II Royalties LP consisting of 37,000 net acres located primarily in Crane County, TX, in the Permian Basin’s Central Basin Platform; includes strong current net production of about 9,100 boe/d (54% oil, 75% liquids). (Completed; PSA announced July 2022) |
| E&P | 9/1/22 | Ring Energy Inc. | Stronghold Energy | $465 |
Acquired Stronghold Energy II Operating LLC and Stronghold Energy II Royalties LP consisting of 37,000 net acres located primarily in Crane County, TX, in the Permian Basin’s Central Basin Platform; includes strong current net production of about 9,100 boe/d (54% oil, 75% liquids). (Completed; PSA announced July 2022) |
| S&S | 9/1/22 | STEP Energy Services Ltd. | ProPetro Holdings Corp. | CA$17.2 |
Purchased four high-spec, ultradeep capacity coiled tubing units, ancillary equipment along with the divisional leadership and operational personnel from ProPetro. |
| E&P | 9/6/22 | EQT Corp. | Tug Hill Inc.; XcL Midstream LLC; Quantum Energy Partners | $5,200 |
To acquire THQ Appalachia I LLC (Tug Hill)'s upstream assets and THQ-XcL Holdings I LLC (XcL Midstream)'s gathering and processing assets, both backed by Quantum Energy Partners, in the Appalachian Basin offsetting existing West Virginia core leasehold. (Expected to close 4Q 2022) |
| E&P | 9/6/22 | Sitio Royalties Corp. | Brigham Minerals Inc. | $4,800 |
To acquire in an all-stock merger; combined company will consist of a total of 259,510 net royalty acres in the Permian Basin and other oil-focused regions. |
| Mid | 9/8/22 | Williams Cos. Inc. | NorTex Midstream; Tailwater Capital | $423 |
Bought NorTex Midstream, a fully contracted natural gas pipeline and storage asset in North Texas backed by Tailwater Capital. |
| Mid | 9/12/22 | Antero Midstream Corp. | Crestwood Equity Partners LP | $205 |
To purchase Crestwood’s Marcellus natural gas gathering and compression assets are located in the Appalachian Basin in Doddridge and Harrison Cos, WV; includes 72 miles of dry gas gathering pipelines and nine compressor stations with roughly 700 MMcf/d of compression capacity. (Expected to close 4Q 2022) |
| Renew | 9/12/22 | CIM Group | MAS Energy LLC | N/A |
Acquired 100% of the renewable natural gas (RNG) development platform of MAS Energy, which will be renamed Terreva Renewables. |
| E&P | 9/12/22 | Tamarack Valley Energy Ltd. | Deltastream Energy Corp.; ARC Financial Corp. | CA$1,425 |
To buy privately held pure-play Clearwater oil producer, Deltastream, which is backed by ARC Financial. (Expected to close October) |
| E&P | 9/12/22 | Topaz Energy Corp. | Deltastream Energy Corp. | $265.3 |
To purchase a newly created 5% gross overriding royalty on all current and future oil production from Deltastream’s entire Clearwater acreage. (Expected to close Sept. 29) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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