1Derrick US M&A weekly update

1Derrick gives OGFJ readers a snapshot of oil and gas industry M&A activity for the week of June 27 – July 1.

Deal stats

 

Announced deals YTD

Deals in play*

Region

Value ($M)

Count

Value ($B)

Count

Permian

$3,996

41

~$2

9

Mid-Continent

$3,217

21

~$1-2

6

Gulf Coast

$1,582

20

~$5

12

Rockies

$2,910

33

~$3

8

Ark-La-Tex

$5,403

11

~$2

6

Eastern

$1,666

14

~$3

8

Gulf of Mexico

$7

7

~$9

11

Alaska

$152

3

-

-

West Coast

$2

3

-

-

Multi Region

$395

9

~$8-9

6

Total

$19,329

162

~$35

66

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

*Only includes packages valued >$100M

Deal flow

Upstream

  • Samson Oil & Gas Ltd. has entered into an agreement to sell its ~25% to 30% WI in the North Stockyard field in the Williston basin to Angelus Private Equity Group LLC for $15 million.
  • White Star Petroleum LLC completed the acquisition of Mississippi Lime and Woodford Shale assets from Devon Energy Corp. for $200 million. The assets include ~210,000 net acres in Central Northern Oklahoma, primarily located in Payne Co., Lincoln Co., Logan Co., and Garfield Co., OK.
  • Triangle Petroleum’s wholly-owned subsidiaries, Triangle USA Petroleum Corp. and Ranger Fabrication LLC, have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code, to facilitate restructuring of its balance sheet.  

Midstream

  • Energy Transfer Equity terminated the merger agreement with Williams as their counsel, Latham & Watkins, was unable to deliver a tax opinion.

 

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