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A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Mid | 8/15/22 | Energos Infrastructure | Apollo Global Management LLC; New Fortress Energy Inc. | $2,000 |
Formed JV a new global LNG maritime platform named Energos Infrastructure owned approximately 80% by Apollo-managed funds and 20% by New Fortress. (Completed; PSA announced July 2022) |
| E&P | 8/15/22 | Northern Oil and Gas Inc. | Undisclosed | $170 |
Acquired nonoperated interests in the Williston Basin primarily located in Dunn, McKenzie and Williams counties, ND; includes approximately 3,500 acres, 9.2 net producing wells, 2.6 net wells-in-process and 14.9 net engineered economic undeveloped locations. (Completed; PSA announced June 2022) |
| Mid | 8/16/22 | Pembina Pipeline Corp.; KKR & Co. Inc. | Energy Transfer LP | CA$1,600 |
Acquired the remaining 51% interest in Energy Transfer Canada, which is one of Alberta’s largest licensed gas processors with natural gas gathering and transportation infrastructure assets in the Western Canadian Sedimentary Basin. (Completed; PSA announced March 2022) |
| E&P | 8/17/22 | Northern Oil and Gas Inc. | Laredo Petroleum Inc. | $110 |
To buy certain nonoperated properties within the Midland Basin of the Permian located in in Howard County, TX; includes 1,650 net acres and expected full-year 2023 average net production of 1,800 boe/d (roughly 72% oil) substantially operated by SM Energy. (Expected to close October) |
| Mid | 8/17/22 | Phillips 66 Co. | Enbridge Inc.; DCP Midstream LP | $3,290 |
Acquired increased stake in DCP Midstream through a merger of existing JVs owned with Enbridge that includes the selldown of interests and relinquish of operatorship in the Gray Oak Pipeline LLC in the Permian Basin; includes $400 MM cash payment. |
| E&P | 8/18/22 | Tellurian Inc.; Tellurian Production LLC | EnSight Energy Partners LP | $133 |
Purchased the natural gas assets of EnSight IV Energy Partners LLC and EnSight Haynesville Partners LLC located in the core of the Haynesville Shale in DeSoto, Bossier, Caddo, and Webster parishes, LA; includes about 5,000 net acres, 30 gross drilling locations and roughly 45 MMcf/d (100% natural gas) of current net production with 108 Bcf of proved reserves. (Completed; PSA announced July 2022) |
| E&P | 8/18/22 | Undisclosed | Crew Energy Inc. | CA$130 |
Purchased certain noncore Crew Energy assets at Attachie and Portage in northeast British Columbia including approximately 47,025 net acres of Montney rights with total proved reserves of 4.7 million boe. |
| 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. |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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