A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Renew | 8/16/21 | Buckeye Partners LP | OCI Solar Power LLC | N/A |
Bought a 270 MW construction-ready solar project located in Falls County, TX, expected to be brought online in 1Q 2023. |
| E&P | 8/16/21 | U.S. Energy Development Corp. | Undisclosed | $14.1 |
Purchased a Permian Basin project located in Reeves County, TX, in the core of the Delaware Basin targeting the Wolfcamp Shale. |
| S&S | 8/17/21 | Axis Energy Services LLC | Basic Energy Services Inc. | N/A |
To acquire as a stalking-horse bidder in a in court-supervised bankruptcy sale process substantially all of Basic’s well servicing and completion and remedial segment assets outside of CA. |
| S&S | 8/17/21 | Berry Corp. | Basic Energy Services Inc. | $27 |
To purchase as a stalking-horse bidder in a in court-supervised bankruptcy sale process substantially all of Basic’s assets in CA. |
| S&S | 8/17/21 | Select Energy Services Inc. | Basic Energy Services Inc. | N/A |
To buy as a stalking-horse 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. |
| E&P | 8/17/21 | Woodside Petroleum Ltd. | BHP Group Plc | $13,000 |
To acquire BHP’s petroleum business that includes conventional oil and gas operations centered in the US GoM, Australia, Trinidad and Tobago, and Algeria plus exploration, development and production activities in Mexico, deepwater Trinidad and Tobago, Western Gulf of Mexico, Eastern Canada and Barbados. (Expected to close in 2022) |
| E&P | 8/18/21 | Diversified Energy Co. Plc | Tanos Energy Holdings III LLC | $154 |
Acquired certain Cotton Valley and Haynesville assets in LA and TX that currently generate 14,000 boe/d with 40 MMboe of PDP reserves. |
| S&S | 8/18/21 | Gulf Land Structures LLC | Dynamic Industries | N/A |
Purchased all the living quarters assets and repair and maintenance business of LQT Industries located throughout the GoM and US Gulf Coast region. |
| Mid | 8/20/21 | Inter Pipeline Ltd. | Brookfield Infrastructure Partners LP | CA$8,580 |
Purchased all of the issued and outstanding shares of Inter Pipeline in a cash-and-stock transaction; assets include pipelines and infrastructure assets in Western Canada. |
| Mid | 8/20/21 | Kinder Morgan Inc. | Kinetrex Energy; Parallel49 Equity | $310 |
Purchased the Indianapolis-based leading supplier of LNG in the Midwest and a rapidly growing player in producing and supplying renewable natural gas. (Completed; PSA announced July 2021) |
| Renew | 8/23/21 | Clearway Energy Inc.; Global Infrastructure Partners III | Undisclosed | $335 |
To buy remaining 50% equity interest in the 530 MW Utah Solar Portfolio that it does not currently own. (Expected to close 4Q 2021) |
| E&P | 8/25/21 | Andros Capital Partners LLC | Midland-Petro D.C. Partners LLC | $150 |
Formed JV to fund a development drilling program targeting the Spraberry and Wolfcamp formations on MPDC’s position in the core of the Midland Basin in the Permian in Midland County, TX. |
| Mid | 8/26/21 | WhiteWater Midstream LLC | Sendero Midstream Partners LP | N/A |
Bought the 24-inch Gateway Pipeline, connected to WhiteWater’s Agua Blanca pipeline system, extending approximately 24 miles north from Reeves County, TX, into the Carlsbad Area of NM in the Permian Basin. |
| 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) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
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