1Derrick US M&A Weekly Update

1Derrick gives OGFJ readers a snapshot of oil and gas industry M&A activity for the week of May 30 – June 3.

Deal stats

 

Announced deals YTD

Deals in play*

Region

Value ($M)

Count

Value ($B)

Count

Permian

$1,767

34

~$2-3

10

Mid-Continent

$2,022

19

~$3

7

Gulf Coast

$1,566

18

~$5

11

Rockies

$2,702

27

~$4-5

13

Ark-La-Tex

$4,878

11

~$3

7

Eastern

$1,162

10

~$4-5

12

Gulf of Mexico

$5

6

~$9

11

Alaska

$152

2

<$0.5

1

West Coast

$2

3

 

-

Multi Region

$395

10

~$10-11

7

Total

$14,649

140

~$40-45

78

Source: 1Derrick’s Global M&A Database (www.1Derrick.com)

*Only includes packages valued >$100M

Deal flow
Upstream

  • PetroShare Corp. has entered into a PSA to acquire producing wells and leases covering 2,200 net acres in Adams Co., CO. The acreage is located in the Southern core area of the Greater Wattenberg field and within PetroShare’s Todd Creek Farms project area.
  • Callon Petroleum has completed the acquisition of Midland basin acreage operated by Big Star Oil and Gas for $301 million.
  • Warren Resources has filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Court.

Oilfield services

Midstream

  • SemGroup Corp. has agreed to acquire the remaining ~43.8% stake in Rose Rock Midstream LP for an estimated value of $700 million. Rose Rock shareholders will receive 0.8136 SemGroup shares for each share held. Rose Rock engages in crude oil gathering, transportation, storage, distribution and marketing in Colorado, Kansas, Minnesota, Montana, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas and Wyoming.

Downstream

  • Macquarie Infrastructure and Real Assets and Swiss Life Asset Managers have agreed to acquire 100% stake in Societa Gasdotti Italia SpA (SGI) for ~$640 million. SGI owns and operates an integrated network of high pressure natural gas pipelines of ~1,500 km located mainly in Central and Southern Italy.
  • Total has entered into an agreement to acquire 76% stake and 24% stake in Gulf Africa Petroleum Corp. (GAPCO) from Reliance Industries Ltd and Fortune Oil Corp, respectively. GAPCO owns two logistics terminals in Kenya and Tanzania with total storage capacity of 1.635 MMbbl, and 108 service stations in Tanzania, Kenya and Uganda.

 

 

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