A&D DEAL SHEET |
|||||
|---|---|---|---|---|---|
| Sector | Date Announced |
Buyer | Seller | Value (US$MM) |
Comments |
| Mid | 11/15/21 | JERA Co. Inc. | Global Infrastructure Partners (GIP); Freeport LNG Development LP | $2,500 |
To acquire GIP’s 25.7% interest in Freeport LNG, second largest LNG facility in the US located near Freeport, TX, with 15 mtpa of nominal liquefaction capacity. |
| Mid | 11/16/21 | IronWood Midstream Energy Partners II LLC | Nuevo Midstream Dos LLC; EnCap Flatrock Midstream LLC | N/A |
Acquired Nuevo Midstream Dos Eagle Ford assets through an asset merger; includes approximately 100 miles of crude oil gathering pipeline feeding into the Lavaca Terminal, which consists of 300,000 barrels of crude oil storage and a six-bay truck station. |
| E&P | 11/16/21 | Northern Oil and Gas Inc. | Comstock Resources Inc. | $154 |
Purchased nonoperated interests across over 400 producing wellbores in the Bakken Shale of the Williston Basin located primarily in Williams, McKenzie, Mountrail and Dunn Cos., ND; include 65.9 net producing wells and 4,500 boe/d (2-stream, ~65% oil) of production. (Completed; PSA completed October 2021) |
| E&P | 11/16/21 | Northern Oil and Gas Inc. | Veritas Energy LLC | $537.7 |
To acquire Veritas Energy’s nonop position covering 6,000 net acres in the Permian Basin (about 70% Delaware) with current production of about 9,100 boe/d (2-stream basis, 60% oil) and an estimated proved developed PV-10 of roughly $429 million. (Expected to close 1Q 2022) |
| E&P | 11/22/21 | Paloma Partners VI Holdings LLC; EnCap Investments LP | Goodrich Petroleum Corp. | $480 |
To acquire Houston-based Goodrich, which has acreage positions in the Haynesville Shale in N LA and E TX, the Tuscaloosa Marine Shale in LA and MS and the Eagle Ford Shale trend in S TX. (Expected to close December 2021) |
| E&P | 11/22/21 | SilverBow Resources Inc. | Undisclosed | $75 |
Acquired from two sellers 17,000 total net acres in the oil window of the Eagle Ford shale play in La Salle, McMullen, DeWitt and Lavaca cos., TX, with approximately 2,500 boe/d (71% liquids / 46% oil) of net production in May from 111 PDP wells; includes over 100 net drilling locations. (Completed; PSA announced October 2021) |
| E&P | 11/23/21 | Dorchester Minerals LP | Undisclosed | $29 |
To buy mineral and royalty interests representing approximately 4,600 net royalty acres located in 27 counties across NM, OK, TX & WY. (Expected to close by year-end 2021) |
| E&P | 11/29/21 | PrairieSky Royalty Ltd. | Heritage Royalty LP | CA$728 |
To purchase over 1.9 million acres of royalty lands throughout Alberta, Saskatchewan and Manitoba plus over 1.7 million net acres of fee simple mineral title lands and extensive seismic assets complementary to the royalty lands; includes current estimated royalty production of 2,700 boe/d (92% liquids). (Expected to close December) |
| E&P | 11/30/21 | InPlay Oil Corp. | Prairie Storm Energy Corp. | CA$45 |
Acquired the light-oil Cardium focused producer with operations primarily in the Willesden Green area of central Alberta. (Completed; PSA announced September 2021) |
| Down | 11/30/21 | Parkland Corp.; Federated Co-operatives Ltd. | Cenovus Energy Inc. | CA$420 |
To buy 337 gas stations in the Husky retail fuels network. (Expected to close mid-2022) |
| E&P | 11/30/21 | Undisclosed | Cenovus Energy Inc. | CA$238 |
To purchase Montney assets in Wembley part of Cenovus’ conventional business; total production averaged approximately 3,200 boe/d in 2021, with about 38% oil and NGL. (Expected to close in December) |
| E&P | 12/1/21 | ConocoPhillips Co. | Royal Dutch Shell Plc | $9,500 |
Acquired 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. (Completed; PSA announced September 2021) |
| E&P | 12/1/21 | Henry Resources LLC; Pickering Energy Partners LP | Centennial Resource Development Inc. | $101 |
Purchased approximately 6,200 net leasehold acres and related assets located in Reeves County, TX, within the Delaware sub-basin of the Permian; 3Q 2021 estimated average net production associated with the acreage was approximately 1,600 boe/d (64% oil). (Completed; PSA announced November 2021) |
| E&P | 12/1/21 | PHX Minerals Inc. | Undisclosed | $1.4 |
Bought approximately 172 net royalty acres primarily in Carter and Stephens counties, OK, predominately located in the Springboard III area of the SCOOP play. |
| Mid | 12/1/21 | Rattler Midstream LP | Diamondback Energy Inc. | $160 |
Purchased certain water midstream assets in the Permian Basin through a dropdown, consisting primarily of produced water gathering and disposal systems, produced water recycling facilities and sourced water gathering and storage assets. (Completed; PSA announced October 2021) |
| E&P | 12/1/21 | Undisclosed | PHX Minerals Inc. | $3 |
Purchased two packages of assets totaling 193 nonoperated legacy working interest wellbores primarily in the Arkoma Shale and Western Anadarko Shale plays of OK; includes assumption of approximately $500,000 of asset retirement obligation. |
| Mid | 12/2/21 | Energy Transfer LP | Enable Midstream Partners LP; CenterPoint Energy Inc; OGE Energy Corp. | $7,200 |
Acquired Houston-based Enable Midstream through an all-stock merger agreement; includes natural gas gathering and processing assets in the Anadarko Basin in OK, along with intrastate and interstate pipelines in OK and surrounding states plus assets in Arkoma Basin across OK and AR and the Haynesville Shale in E TX and N LA. (Completed; PSA announced February 2021) |
For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.
Recommended Reading
Defeating the ‘Four Horsemen’ of Flow Assurance
2024-04-18 - Service companies combine processes and techniques to mitigate the impact of paraffin, asphaltenes, hydrates and scale on production—and keep the cash flowing.
Tech Trends: AI Increasing Data Center Demand for Energy
2024-04-16 - In this month’s Tech Trends, new technologies equipped with artificial intelligence take the forefront, as they assist with safety and seismic fault detection. Also, independent contractor Stena Drilling begins upgrades for their Evolution drillship.
AVEVA: Immersive Tech, Augmented Reality and What’s New in the Cloud
2024-04-15 - Rob McGreevy, AVEVA’s chief product officer, talks about technology advancements that give employees on the job training without any of the risks.
Lift-off: How AI is Boosting Field and Employee Productivity
2024-04-12 - From data extraction to well optimization, the oil and gas industry embraces AI.
AI Poised to Break Out of its Oilfield Niche
2024-04-11 - At the AI in Oil & Gas Conference in Houston, experts talked up the benefits artificial intelligence can provide to the downstream, midstream and upstream sectors, while assuring the audience humans will still run the show.