A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| 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) |
| E&P | 9/13/22 | U.S. Energy Development Corp. | Undisclosed | $60 |
Acquired three separate asset packages in the core of the Delaware Basin in the Permian region that includes partnering with operators in 17 new wells spanning a three-county area. |
| Renew | 9/14/22 | Enverus | RatedPower | N/A |
Purchased the Madrid-based company helps companies in the solar industry through use of automatization and optimization as well as digital technologies and analysis. |
| E&P | 9/15/22 | SilverBow Resources Inc. | Undisclosed | $50 |
Purchased through a series of transactions a 7,500 net-acre position in the dry gas Dorado play in Webb County, TX, with over 50 net drilling locations across the Austin Chalk and Eagle Ford formations; net recoverable resource is 650 Bcf and current net production is about 30 MMcf/d. |
| Mid | 9/19/22 | Steel Reef Infrastructure Corp. | Summit Midstream Partners LP | $40 |
Purchased the Bison Gas gathering system, located in Mountrail and Burke Cos., ND, serving Bakken and Three Forks gas producers in the Williston Basin. |
| Mid | 9/22/22 | Momentum Midstream LLC; EnCap Flatrock Midstream | Midcoast Energy LLC; ArcLight Capital Partners LLC; Align Midstream LLC; Tailwater Capital LLC | N/A |
Bought Midcoast’s E TX business, a gathering and transportation system with 1.5 Bcf/d of current volume, and Align Midstream, which owns several gathering systems adjacent to Midcoast with current volumes of 600 MMcf/d. |
| E&P | 9/22/22 | Talos Energy Inc. | EnVen Energy Corp. | $1,100 |
To acquire private operator EnVen, which holds 78 MMboe of 2P reserves and 420,000 gross acres in the Gulf of Mexico. |
| E&P | 9/26/22 | Decarbonization Plus Acquisition Corp.; Riverstone Holdings LLC | Hammerhead Resources Inc.; Riverstone Holdings LLC | CA$1,390 |
To acquire Hammerhead, a Calgary, Alberta-based Montney Shale producer with a CCS program under development, in a business combination transaction that values it at CA$1.39 billion. (Expected to close 1Q 2023) |
| Mid | 9/27/22 | Undisclosed | Kinder Morgan Inc. | $565 |
To buy a 25.5% equity interest in Elba Liquefaction Co. LLC, which is a JV that owns the Elba liquefaction facility located on Elba Island in Chatham County, GA. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
Recommended Reading
Saudi Signals Willingness to Weaken Oil Prices, Defend Market Share
2024-09-26 - Analysts caution that reports of Saudi Arabia abandoning a philosophy of supporting prices in favor of defending market share could be a move to get OPEC+ members in line rather than to launch a costly oil war with the U.S., among others.
What's Affecting Oil Prices This Week? (Nov. 4, 2024)
2024-11-04 - For the upcoming week, with the increased geopolitical risk and OPEC+’s delay in phasing out its production cut, Stratas Advisors expect that the price of Brent crude could test $77.
OPEC Cuts 2024, 2025 Global Oil Demand Growth View Again
2024-10-14 - The weaker outlook highlights the dilemma faced by OPEC+, which is planning to start raising output in December after earlier delaying the hike against a backdrop of falling prices.
OPEC+ Agrees to Delay October Output Hike for Two Months, Sources Say
2024-09-05 - Oil prices edged up from multi-month lows on reports of an OPEC+ delay as well as a decline in U.S. inventories, though gains were capped by persistent demand concerns.
Oil Prices Rise as OPEC+ Considers Delaying December Output Increase
2024-10-30 - Oil prices rose more than 2% on Oct. 30 after Reuters reported that OPEC+ could delay a planned oil production increase in December by a month or more because of concern over soft oil demand and rising supply.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.