1Derrick US M&A weekly update

1Derrick gives OGFJ readers a snapshot of oil and gas industry M&A activity for the week of December 26th to December 30th.

Deal stats

 

US announced deals YTD

US deals in play*

Region

Value ($MM)

Count

Value ($B)

Count

Permian

$26,093

244

~$3

15

Mid-Continent

$6,817

84

$1-2

6

Gulf Coast

$2,914

95

~$9

10

Rockies

$6,038

92

$5

6

Ark-La-Tex

$7,414

31

<$1

2

Eastern

$6,612

36

$2

8

Gulf of Mexico

$2,432

82

~$10

12

Alaska

$232

5

-

-

West Coast

$611

15

-

-

Multi Region

$1,519

28

<$1

1

Total

$60,684

712

~$33

60

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

*Only includes packages valued >$100 million

Deal flow
Upstream

  • On 30-Dec-2016, Freeport-McMoRan Inc. completed the previously announced divestiture of California assets to Sentinel Peak Resources LLC (backed by Quantum Energy Partners) for $592 million.
  • On 30-Dec-2016, Energy XXI Ltd successfully completed its financial restructuring and emerged from Chapter 11, by eliminating more than $3.6 billion of debt from its balance sheet.
  • On 29-Dec-2016, Centennial Resource Development Inc. completed the previously announced acquisition of Southern Delaware acreage located in Reeves Co., TX, from Silverback Exploration LLC for $855 million.

OFS

  • On 30-Dec-2016, Baker Hughes, CSL Capital Management and West Street Energy Partners, a fund managed by Goldman Sachs, completed the previously announced transaction to form a North American hydraulic fracturing and cementing services company. The new company will operate as BJ Services with CSL and WSEP together, and Baker Hughes owning 53.3% and 46.7% stake.

 

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