1Derrick US M&A weekly update

US M&A Weekly Update (August 15th to August 19th)

Deal stats

 

Announced deals YTD

Deals in play*

Region

Value ($M)

Count

Value ($B)

Count

Permian

$9,877

70

~$2

8

Mid-Continent

$4,340

36

~$2

8

Gulf Coast

$2,022

33

~$6

12

Rockies

$3,317

51

~$3

7

Ark-La-Tex

$5,490

16

~$1-2

7

Eastern

$1,774

16

~$3

8

Gulf of Mexico

$7

7

~$10

12

Alaska

$152

3

-

0

West Coast

$2

4

-

0

Multi Region

$582

14

~$2

4

Total

$27,563

250

~$30

66

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

*Only includes packages valued >$100M

Deal flow
Upstream

  • Concho Resources Inc. has entered into an agreement with Reliance Energy Inc. to acquire assets in the Northern Midland basin for $1.625 billion. The transaction includes ~40,000 net acres located in Andrews Co., Martin Co., and Ector Co., TX, with proved reserves of 43 MMBOE and production of 10 MBOE/d. Concho reports the value of Production to be ~$500 million based on NYMEX current strip pricing.
  • Parsley Energy Inc. has entered into an agreement to acquire Midland basin acreage and associated mineral interest and ORRI for $400 million. The transaction includes 9,140 net acres located in Glasscock Co., TX, with ~5% mineral interest and ORRI with production of ~270 BOE/d.
  • Continental Resources Inc. has entered into an agreement to sell its non-strategic Bakken assets in North Dakota and Montana for $222 million. The transaction includes 80,000 net acres located in Williams Co., ND and also in Roosevelt Co., MT, with production of 2.8 MBOE/d.
  • Jones Energy Holdings LLC has entered into a definitive agreement with SCOOP Energy Co LLC, a platform company of American Energy Partners LP, to acquire STACK/SCOOP acreage in the Eastern Anadarko basin in Oklahoma for $136.5 million. The transaction includes ~18,000 undeveloped net acres located primarily in Southern Canadian Co., Grady Co., OK. Jones Energy reports the acreage metric to be ~$7,600/acre.

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