1Derrick US M&A weekly update

1Derrick gives OGFJ readers a snapshot of oil and gas industry M&A activity for the week of September 12 – September 16.

Deal stats

 

Announced deals YTD

Deals in play*

Region

Value ($MM)

Count

Value ($B)

Count

Permian

$14,173

91

~$4

10

Mid-Continent

$4,587

46

~$2

8

Gulf Coast

$2,087

49

~$6

13

Rockies

$3,398

66

~$3

6

Ark-La-Tex

$5,497

19

~$2-3

7

Eastern

$1,774

18

~$3

8

Gulf of Mexico

$2,432

81

~$10

12

Alaska

$232

4

-

0

West Coast

$2

11

-

0

Multi Region

$606

18

~$3

4

Total

$34,789

403

~$32

68

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

*Only includes packages valued >$100 million

Deal flow
Upstream

  • Anadarko Petroleum Corp. has entered into an agreement to acquire deepwater GoM assets from Freeport-McMoRan Inc. for $2 billion. The transaction includes 91 blocks located primarily in Atwater Valley, Green Canyon, Mississippi Canyon and Keathley Canyon areas with production of ~80 MBOE/d. Anadarko reports the value of proved reserves to be $1,700 million (at $13.5/BOE) and value of materials inventory and seismic to be $300 million.
  • Statoil completed the previously announced sale of non-core Marcellus acreage with production of ~3 MMcfe/d to Antero Resources Corp. for $108 million.

OFS

  • Clariant AG has entered into agreements to acquire Kel-Tech Inc and X-Chem LLC from Arsenal Capital Partners and NCH Corp., respectively. Kel-Tech is a manufacturer and supplier of specialty chemical products for production, field stimulation and drilling applications throughout onshore United States, and X-Chem provides specialty oilfield chemicals for the production, completion and stimulation of oil wells, gas wells and pipelines on onshore and offshore United States.

Downstream

  • Western Refining Inc. (WNR) completed the previously announced sale of certain terminalling, storage and other logistics assets to Western Refining Logistics LP for $210 million. The transaction includes Storage tanks, product terminals, rail and barge facilities, and three oil pipeline segments near the SPPR refinery in St. Paul Park, Minnesota.

 

 

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