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 26 – September 30.

Deal stats


US announced deals YTD

US deals in play*


Value ($MM)


Value ($B)












Gulf Coast




















Gulf of Mexico










West Coast





Multi Region










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

*Only includes packages valued >$100 million

Deal flow


  • Rice Energy has agreed to acquire Vantage Energy LLC and Vantage Energy II LLC (backed by Quantum Energy Partners, Riverstone Holdings and Lime Rock Partners) for $2.1 billion. Rice Energy will pay $1.02 billion in cash and issue 39.1 million Rice Energy shares valued at ~$980 million. The aggregate deal value including debt of $700 million is $2.7 billion. Vantage’s holds ~85,000 net Marcellus acres (Utica rights on 52,000 acres) in Greene Co., PA, and 37,481 net Barnett acres in Denton Co., Wise Co., and Tarrant Co., TX. 
    Concurrently, Rice Midstream Partners LP agreed to acquire Vantage’s dry gas gathering and compression assets from Rice Energy for $600 million. The assets include ~30 miles of gathering pipeline with throughput capacity of over 400 MMcf/d, located in Greene Co., PA.
  • Energy Hunter Resources has entered into an agreement to acquire mineral rights over 320 gross acres in Howard Co., TX. Energy Hunter expects to drill nine wells on the acquired acreage.  
  • PetroShare Corp has signed a binding LoI to acquire 305 net acres adjacent to its Todd Creek Farms prospect area in Adams Co., TX. The acreage targets Codell and Niobrara formations and includes 32 gross horizontal drilling locations.  
  • Newfield Exploration completed the previously announced sale of its Eagle Ford Shale assets and conventional gas assets in South and West Texas for $390 million.  
  • KKR and Venado Oil & Gas LLC have formed a partnership to consolidate proven assets in the Eagle Ford Shale of South Texas. The partnership will be funded by KKR’s Energy Income and Growth Fund I.


  • DTE Energy has entered into agreements to acquire 100% of Appalachia Gathering System and 40% of Stonewall Gas Gathering (SGG) from M3 Midstream, as well as 15% of SGG from Vega Energy Partners Ltd for $1.3 billion. The assets are located in the Appalachian basin and include ~217 miles of pipeline including gathering capacity of 550 MMcf/d from SGG, connecting producing wells with interconnections with Columbia Gas Transmission, Texas Eastern Transmission and the NEXUS Gas Transmission project.  
  • TransCanada Corp. has offered to acquire the remaining 53.5% stake in Columbia Pipeline Partners LP (CPPL). TransCanada will acquire ~53.844 million CPPL shares at $15.75 per share, for a total value of $848.035 million. The aggregate deal value including cash and debt of $337.5 million for 53.5% stake is $1,185.54 million. CPPL holds ~15,000 miles of natural gas pipelines and natural gas storage systems with capacity of ~300 MMDth.  
  • Sunoco Logistics Partners LP has entered into an agreement to acquire an integrated crude oil business in the Permian basin in West Texas from Vitol Group for $760 million plus working capital. The assets acquired include 2 MMbbl crude oil terminal, 50% stake in SunVit, gathering and mainline pipeline system in Midland basin, inventories and six truck stations.  
  • Shell Midstream Partners LP has entered into an agreement to acquire additional 20% interest in 163 mile Mars Oil pipeline system (capacity of 400 Mbbl/d) and 49% interest in 120-mile Odyssey pipeline (capacity of 220 Mbbl/d) from Shell Plc for $350 million.


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