A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 8/18/20 | Ensign Natural Resources LLC; Reliance Industries Ltd. | Newpek LLC | $88 |
Purchased Eagle Ford Shale and Edwards acreage in S TX; Ensign portion includes about 5,700 net acres in Bee, DeWitt, Karnes and Live Oak Cos. And 2,200 boe/d of current net production. |
| E&P | 8/19/20 | Orion Mine Finance | Occidental Petroleum Corp. | $1,330 |
To buy WY, CO and UT land grant assets covering approximately 4.5 million mineral acres and 1 million fee surface acres; doesn't include cash flow from currently producing oil and gas properties on the position and mineral acres derived from the land grant in CO. (Expected to close 4Q 2020) |
| E&P | 8/19/20 | Posse Resources LLC | Live Oak Resources Partners LLC | N/A |
Purchased Live Oak Fund I's remaining assets consisting of roughly 4,800 net royalty acres (normalized to 1/8 royalty) located in N LA with production across the Haynesville Shale, Bossier and Cotton Valley formations. |
| E&P | 8/21/20 | ConocoPhillips Co. | Kelt Exploration Ltd. | $405 |
Acquired 140,000 net acres located adjacent to its Montney position in the liquids-rich Inga-Fireweed field in Canada, adding over 1,000 well locations and about 15,000 boe/d; transaction includes assumption of $30 MM in financing obligations for associated partially owned infrastructure. (Completed; PSA announced July 2020) |
| E&P | 8/24/20 | HighPeak Energy Inc. | Pure Acquisition Corp. | N/A |
Acquired through a business combination with blank-check company Pure Acquisition forming a Midland Basin pure-play with 51,000-net-acre position primarily in Howard County, TX, more than 90% operated and anticipated net production of about 12,000 boe/d (more than 80% oil). (Completed; PSA announced May 2020) |
| Mid | 8/25/20 | Compass Energy Systems Ltd. | Exerran Corp. | N/A |
To buy Exterran's US compression fabrication business. (Expected to close 4Q 2020) |
| Renewable | 8/27/20 | Novis Renewables Holdings LLC; Eni SpA; Falck Renewables SpA | Building Energy SpA | $32.5 |
To buy Building Energy Holdings US LLC (BEHUS), which includes 62 MW of operating wind and solar projects in the US and a pipeline of wind projects up to 160 MW. (Expected to close year-end 2020) |
| E&P | 8/27/20 | Panhandle Oil and Gas Inc. | Red Stone Resources LLC | $6.9 |
To purchase 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). (Expected to close first fiscal quarter of 2021) |
| E&P | 8/31/20 | Whitecap Resources Inc. | NAL Resources Ltd. | C$155 |
To buy NAL Resources, which has oil and gas operations in Alberta and Saskatchewan and is currently producing approximately 27,000 boe/d (55% oil and NGL). (Expected to close January 2021) |
| S&S | 9/1/20 | Liberty Oilfield Services Inc. | Schlumberger Ltd.; OneStim | N/A |
To purchase OneStim, Schlumberger’s North America fracking business that includes pressure pumping, pumpdown perforating, and Permian frac sand assets; in exchange, Schlumberger will receive a 37% equity interest in the combined company. (Expected to close 4Q 2020) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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