A&D DEAL SHEET |
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|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| E&P | 8/30/21 | HEQ Deepwater; Houston Energy LP; Quantum Energy Partners | Beacon Offshore Energy LLC | N/A |
Purchased a 20% WI in the Shenandoah deepwater development in the US GoM. |
| E&P | 8/30/21 | Ineos Group Ltd. | Hess Corp. | $150 |
Purchased Hess Denmark ApS, which holds a 61.5% interest in the South Arne Field offshore in the Danish North Sea; Production net to Hess averaged 5,800 boe/d in 4Q 2020. (Completed; PSA announced March 2021) |
| E&P | 8/30/21 | Undisclosed | Enerplus Corp. | $120 |
To purchase interests in MT’s Sleeping Giant Field and ND’s Russian Creek area in the Williston Basin; transaction includes up to $5 MM in contingent payments tied to future oil prices. (Expected to close October) |
| E&P | 8/31/21 | Contango Oil & Gas Co. | ConocoPhillips Co. | $67 |
Acquired Wind River Basin assets covering approximately 44,000 net acres in Fremont and Natrona counties, WY, and a net production run rate of approximately 78 MMcfe/d (roughly 100% gas). (Completed; PSA announced July 2021) |
| S&S | 8/31/21 | NexTier Oilfield Solutions Inc. | Alamo Pressure Pumping LLC | $268 |
Acquired the Midland, TX-based pressure pumper operating its 9 hydraulic fracturing fleets comprised of 460,000 hp exclusively in the Permian Basin and primarily out of the Midland Basin. (Completed; PSA announced August 2021) |
| E&P | 8/31/21 | Spartan Delta Corp. | Velvet Energy Ltd. | CA$743.3 |
Purchased the privately held light-oil Montney producer with operations primarily in the Gold Creek, Karr and Pouce Coupe areas of NW Alberta. (Completed; PSA announced July 2021) |
| E&P | 9/1/21 | Goodrich Petroleum Corp. | Undisclosed | $1.5 |
Acquired 8 wells approximately 2 MMcfe/d and 5,800 gross (4,500 net) acres in the core of the Haynesville Shale basin in Louisiana’s Caddo and Bossier parishes. |
| E&P | 9/1/21 | Southwestern Energy Co. | Indigo Natural Resources LLC | $2,700 |
Acquired privately held Indigo Natural Resources, adding a 149,000 net-acre position in the Haynesville Shale in LA with 1.1 Bcf/d of net production and proved reserves as of year-end 2020 of 3.1 Tcf. (Completed; PSA announced June 2021) |
| E&P | 9/2/21 | Mubadala Petroleum | Delek Drilling | $1,000 |
Purchased Delek Drilling’s 22% stake in the Tamar gas field offshore Israel in the Mediterranean Sea operated by Chevron. |
| Renew | 9/2/21 | Quanta Services Inc. | Blattner Holding Co. | $2,700 |
To acquire the Avon, MN-based utility-scale renewable energy infrastructure solutions provider, which provides front-end engineering, procurement, project management and construction services to leading renewable energy developers for wind, solar and energy storage projects across North America; consideration includes $2.36 B in cash and $340 MM of Quanta stock plus an earnest payment to Blattner owners of up to $300 MM. (Expected to close 4Q 2021) |
| E&P | 9/7/21 | BCE-Mach III LLC; Mach Resources LLC; Bayou City Energy Management LLC | Undisclosed | N/A |
Purchased approximately 18,200 net acres (98% HBP) of producing Anadarko Basin properties primarily across Blaine, Custer and Dewey counties, OK; includes 4,400 net royalty acres and 17 MMcfe/d of production. |
| Mid | 9/7/21 | Enbridge Inc. | Moda Midstream LLC; EnCap Flatrock Midstream LLC | $3,000 |
To acquire EnCap Flatrock-backed Moda Midstream; includes 100% operating interest in the Ingleside Energy Center—North America’s largest crude export terminal located near Corpus Christi, TX. (Expected to close 4Q 2021) |
| S&S | 9/7/21 | RPM International Inc. | ChampionX Corp. | N/A |
Purchased a Corsicana, Texas, chemical manufacturing plant; includes supplier agreement to support ChampionX’s future manufacturing needs. |
| E&P | 9/8/21 | Freehold Royalties Ltd. | Undisclosed | $180 |
To buy a concentrated royalty land position in the core of the Eagle Ford oil basin across approximately 92,000 gross drilling unit acres in Karnes, Atascosa and Live Oak counties, TX, with an average royalty rate of approximately 1.8%. (Expected to close by Sept. 28) |
| E&P | 9/8/21 | U.S. Energy Development Corp. | Undisclosed | $50 |
Purchased a Permian project located in Loving County, TX, in the core of the Delaware Basin that includes wells targeting the 3rd Bone Spring, Wolfcamp A and Wolfcamp XY. |
| E&P | 9/8/21 | West Lake Energy Corp. | Boulder Energy Ltd. | N/A |
Purchased Boulder Energy, a privately held primarily light-oil producer with assets in the Brazeau area of West Central Alberta, Canada, adding a new core area that targets the Belly River formation. |
| E&P | 9/10/21 | Santos Ltd. | Oil Search Ltd. | $6,200 |
To acquire PNG-focused Oil Search in an all-share deal to create a global top 20 oil and gas company worth about $6 B with assets across Australia, Timor-Leste, PNG and North America. (Expected to close year-end 2021) |
| Mid | 9/10/21 | WaterBridge Holdings LLC; Five Point Energy LLC | Colgate Energy LLC | N/A |
Purchased the produced water infrastructure associated with Colgate’s recent asset acquisition from Occidental Petroleum in the southern Delaware Basin; includes new expanded produced water management agreement. |
| Renew | 9/15/21 | Archae Energy Inc.; Rice Acquisition Corp. | Aria Energy LLC | $1,030 |
Acquired Aria Energy through a SPAC deal forming Archaea Energy to focus on renewable natural gas and landfill gas emissions. (Completed; PSA announced April 2021) |
| E&P | 9/15/21 | Warwick Investment Group | Rosewood Resources Inc. | $450 |
Acquired Rosewood Resources operated oil and gas assets in the TX Eagle Ford Shale; combined purchase price and anticipated development capital represents an incremental commitment of roughly $450 MM to the Eagle Ford for Warwick. |
| S&S | 9/16/21 | Berry Corp. | Basic Energy Services Inc. | $43 |
To purchase as the winning bidder in a in court-supervised bankruptcy sale process substantially all of Basic’s assets in CA; final purchase price increased from initial $27 MM bid. (Expected to close by end of September 2021) |
| E&P | 9/16/21 | PHX Minerals Inc. | Undisclosed | $7 |
To purchase certain mineral and royalty interests totaling approximately 817 net royalty acres in E TX and LA targeting the Haynesville play through two separate transactions. (Expected to close Sept. 30) |
| S&S | 9/16/21 | Ranger Energy Services Inc. | Basic Energy Services Inc. | $36.65 |
To acquire as the selected winning bidder in a court-supervised bankruptcy sale process substantially all of Basic’s well servicing and completion and remedial segment assets outside of CA. (Expected to close by end of September 2021) |
| S&S | 9/16/21 | Select Energy Services LLC | Basic Energy Services Inc. | $20 |
To buy as the selected winning bidder in a in court-supervised bankruptcy sale process substantially all of Basic’s assets outside of CA, including all of the assets of Agua Libre Midstream LLC. (Expected to close by end of September 2021) |
| Mid | 9/16/21 | Suncor Energy Inc. | TC Energy Corp. | CA$1,300 |
To purchase a 15% stake in the Northern Courier Pipeline with a value of approximately CA$1.3 B through a partnership with eight Indigenous communities. (Expected to close 4Q 2021) |
| E&P | 9/19/21 | Laredo Petroleum Inc. | Pioneer Natural Resources Co. | $230 |
To acquire for cash and stock approximately 20,000 net acres directly offsetting its existing Midland Basin leasehold in western Glasscock County, TX; includes 4,400 boe/d (59% oil, 82% liquids) of current production and 135 gross operated oil-weighted locations. (Expected to close October). |
| E&P | 9/20/21 | ConocoPhillips Co. | Royal Dutch Shell Plc | $9,500 |
To acquire Shell’s Permian business comprising approximately 225,000 net acres within the Delaware Basin located entirely in West Texas with current production of around 175,000 boe/d. (Expected to close 4Q 2021) |
| Mid | 9/20/21 | Lagoon Water Midstream LLC | Double Drop Resources LLC | N/A |
Bought Midland Basin water management company Double Drop Resources with assets capable of sourcing over 300,000 bbl/d of water for completion operations. |
| S&S | 9/21/21 | Undisclosed | Key Energy Services Inc. | N/A |
Purchased TX and NM fluid management and saltwater disposal well assets. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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