1Derrick US M&A weekly update

1Derrick gives OGFJ readers a snapshot of oil and gas industry M&A activity for the week of July 11 – July 15.

Deal stats

 

Announced deals YTD

Deals in play*

Region

Value ($M)

Count

Value ($B)

Count

Permian

$4,697

50

~$2

8

Mid-Continent

$3,219

23

~$2

9

Gulf Coast

$1,589

25

~$5

12

Rockies

$2,915

35

~$3

8

Ark-La-Tex

$5,403

10

~$2

6

Eastern

$1,774

15

~$3

8

Gulf of Mexico

$7

7

~$10

12

Alaska

$152

3

-

-

West Coast

$2

3

-

-

Multi Region

$540

11

~$7-8

5

Total

$20,297

182

~$34

68

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

*Only includes packages valued >$100M

Deal flow
Upstream

  • Luxe Energy LLC, a portfolio company of Natural Gas Partners (NGP), has entered into an agreement to divest its primarily operated leasehold interests in the Southern Delaware basin to Diamondback Energy Inc. for $560 million. The acreage covers 19,180 net acres in Reeves Co., and Ward Co., TX, and current net production is ~1 MBOE/d.
  • Laredo Petroleum Inc. has entered into an agreement to acquire bolt-on Permian acreage for $125 million. The acreage covers ~9,200 net acres in Western Glasscock Co., TX, and also in Regan Co., TX, with production of 300 BOE/d.
  • ExxonMobil Corp. has made a counter offer to acquire InterOil Corp. for $2.45 billion. ExxonMobil's offer of $45 per share represents a 11.8% premium to Oil Search's offer price of $40.25 per InterOil share. Also, Exxon’s offer of an additional cash payment, for the size of the Elk Antelope discovery, of ~$7.07 per share, represents a 16.8% premium to Oil Search's ~$6.05 per share offered.

 

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