oil & gas report q1 2018

http://sdrventures.com/


mailto:[email protected]


•

•


•

•

•

•

•


•

•

•


13

6

11

28

- -

5

10

15

20

25

30

Midstream Oil &Gas

Refining &Marketing

Equipment &Services

Exploration &Production

Integrated Oil &Gas

Strategic93%

Financial7%

Date Target Buyer(s) SegmentAmount

($ in Mil)

TEV/

Rev

TEV/

EBITDA3/28/2018 RSP Permian, Inc. Concho Resources, Inc. Exploration & Production 9,481.30 11.80x 16.44x

3/5/2018 Linn Energy, Inc. (1300 Wells) XRO Energy LLC Exploration & Production - - -

2/15/2018 Noble Energy, Inc. (Deepwater Gulf of Mexico Oil &

Gas)

Fieldwood Energy LLC; Riverstone

Investment Group LLC

Exploration & Production 810.00 - -

2/14/2018 Exxon Mobil Corp. (Scarborough Field) Woodside Petroleum Ltd. Exploration & Production 1,488.00 - -

2/6/2018 SandRidge Energy, Inc. Midstates Petroleum Co., Inc. Exploration & Production 517.90 1.45x 3.15x

2/2/2018 BreitBurn Energy Partners LP Lime Rock Management LP Exploration & Production 3,101.85 4.41x 17.04x

1/16/2018 Energy Transfer Partners LP (2 Subs) USA Compression Partners LP Equipment & Services 1,671.53 - -

1/9/2018 SM Energy Co. - Powder River Basin (Wyoming) Converse Energy Acquisitions LLC Exploration & Production 500.00 - -

1/8/2018 Lucid Energy Group II LLC Goldman Sachs Capital Partners;

Riverstone Investment Group LLC

Midstream Oil & Gas 1,600.00 - -


Financial Buyer Inv. Date Select Corporate Acquisitions2/16/2018 ▪ ENSTOR Gas LLC12/7/2017 ▪ WPX Energy Inc (San Juan Basin Legacy Gas Assets)9/14/2017 ▪ Olympic Pipe Line Co.7/11/2017 ▪ 2 Subsidiaries of Halcon Energy Properties, Inc.2/9/2017 ▪ Axeon Marketing LLC

2/15/2018 ▪ Noble Energy, Inc. (Deepwater Gulf of Mexico Oil & Gas)1/8/2018 ▪ Lucid Energy Group II LLC8/16/2017 ▪ Alta Mesa Holdings LP8/16/2017 ▪ Kingfisher Midstream LLC7/7/2016 ▪ Centennial Resource Development, Inc.

1/30/2018 ▪ Premium Oilfield Technologies LLC5/18/2017 ▪ CONE Midstream Partners LP11/8/2016 ▪ Xplorer Midstream LLC10/14/2016 ▪ Freeport-Mcmoran, Inc. /California Oil & Gas Properties/4/27/2016 ▪ Sentinel Peak Resources LLC

12/12/2017 ▪ Warren Resources Inc (Northeast Marcellus Shale)10/6/2017 ▪ Carrizo Oil & Gas Inc (Marcellus Shale Play Assets)10/6/2017 ▪ Reliance Marcellus II LLC (Marcellus Shale Play Assets)3/20/2017 ▪ Radler 2000 LP (Marcellus Shale Assets)1/17/2017 ▪ Chief Exploration & Development LLC (Marcellus Shale Assets)

12/7/2017 ▪ Linn Energy, Inc. (Williston Basin)9/12/2017 ▪ Oil & Natural Gas Assets from Chevron USA, Inc.7/18/2016 ▪ Sabinal Energy, LLC4/11/2016 ▪ Phoenix Natural Resources, LLC1/13/2016 ▪ Invictus Energy LLC

ArcLight Capital Partners

Kayne Anderson Capital Advisors

Riverstone Holdings

Quantum Energy Partners

Kalnin Ventures

Strategic Buyer Inv. Date Select Corporate Acquisitions

Primoris Services Corp. 3/28/2018 ▪ Willbros Group, Inc.6/20/2017 ▪ Coastal Field Services LP5/30/2017 ▪ Florida Gas Contractors, Inc.3/15/2015 ▪ RimRock Oil & Gas

9/14/2014 ▪ WesPac Energy, LLC

11/30/2017 ▪ HJH Resources LLC (South Texas Oil & Gas Assets)9/12/2017 ▪ Solstice Capital LLC (Lost Lake & Goose Creek Oil Fields)8/2/2017 ▪ Anasazi New Ventures LLC (South Texas Oil & Gas Assets)8/2/2017 ▪ Safari Production Co., Inc. (South Texas Oil & Gas Assets)10/19/2016 ▪ JMD/Entrada Holdings, Inc.

Shell Midstream 11/28/2017 ▪ Odyssey Pipeline LLC11/22/2017 ▪ Mars Oil Pipeline Co.8/3/2017 ▪ Crestwood Permian Basin Holdings LLC (Permian Basin GGS)12/28/2016 ▪ Endymion Oil Pipeline Co. LLC9/27/2016 ▪ 20% Stake In Mars Oil Pipeline Company And 49% Stake in Odyssey Pipeline L.L.C.

11/6/2017 ▪ Trans-Union Interstate Pipeline LP11/1/2017 ▪ Southcross Energy Partners LP11/1/2017 ▪ Southcross Holdings LP10/30/2017 ▪ Destin Pipeline Co. LLC10/2/2017 ▪ Delta House FPS LLC

Phillips 66 Partners 9/22/2017 ▪ Merey Sweeny LP9/22/2017 ▪ 2 Subsidiaries of Bakken Holdings Co. LLC10/11/2016 ▪ 30 Crude Products & NGL Logistics Assets8/25/2016 ▪ Natural Gas Liquids (NGL) Logistics System in Louisiana7/25/2016 ▪ Explorer Pipeline, Inc.

American Midstream Partners

American Patriot Oil & Gas


5.5x 5.8x 5.9x6.4x6.4x 6.6x 6.5x 6.7x

7.5x 7.8x7.3x

8.3x7.5x

9.0x 9.0x 9.2x

0.0x

2.0x

4.0x

6.0x

8.0x

10.0x

2014 2015 2016 2017

$10-25mm $25-50mm $50-100mm $100-250mm



($ in Mil)

TEV/

Rev

TEV/

EBITDA3/29/2018 Superior Pipeline Co. Partners Group AG; The OPSEU

Pension Trust; Shareholders

Midstream Oil & Gas 600.00 - -

3/29/2018 Engie North America, Inc. (Everett Marine Terminal) Exelon Energy Co. Midstream Oil & Gas - - -

3/28/2018 RSP Permian, Inc. Concho Resources, Inc. Exploration & Production 9,481.30 11.80x 16.44x

3/28/2018 Willbros Group, Inc. Primoris Services Corp. Equipment & Services 137.74 - -

3/27/2018 Tallgrass Energy Partners LP Tallgrass Energy GP LP Midstream Oil & Gas 4,737.56 7.22x 13.01x

3/27/2018 Reliance Eagleford Upstream Holding LP (Eagle Ford

Assets)

Sundance Energy, Inc. Exploration & Production 100.00 - -

3/27/2018 Lubbock Energy Partners LLC (8817 Acres San Andres

Assets)

Energy Hunter Resources, Inc. Exploration & Production 18.40 - -

3/22/2018 Trico Welding Supplies, Inc. MagneGas Corp. Equipment & Services 2.00 0.36x -

3/22/2018 Champions Cinco Pipe & Supply LLC Sumitomo Corp. of Americas Equipment & Services - - -

3/21/2018 TP North Slope Development LLC Alpha Energy Holdings Ltd. Exploration & Production 14.06 - -

3/21/2018 Longfellow Nemaha LLC SK E&P America, Inc. Exploration & Production 280.73 - -

3/15/2018 Pioneer Natural Resources Co. (Eagle Ford Shale

Assets)

Sundance Energy, Inc. Exploration & Production 221.50 - -

3/14/2018 T.A. Roberts Oil Co. LLC Audax Private Equity; RelaDyne LLC Refining & Marketing - - -

3/13/2018 Rex Energy Corp. (Pennysylvania Oil & Gas Assets) XPR Resources LLC Exploration & Production - - -

3/13/2018 Polsinello Fuels, Inc. (Home Heating & Commercial

Fuels)

Mirabito Holdings, Inc. Refining & Marketing - - -

3/7/2018 Prometheus Energy Group, Inc. Stabilis Energy LLC Refining & Marketing - - -

3/6/2018 Recoil Energy Systems LLC Rock Hill Capital Group LLC; Ace

Gathering Holdings LLC

Equipment & Services - - -

3/5/2018 Linn Energy, Inc. (1300 Wells) XRO Energy LLC Exploration & Production - - -

2/28/2018 Falcon Flowback Services LLC Oil States International, Inc. Equipment & Services 85.00 - -

2/26/2018 Delek US Holdings Inc (Big Spring Assets) Delek Logistics Partners LP Midstream Oil & Gas 315.00 - -

2/23/2018 SageRider, Inc. Madison Industries Equipment & Services - - -

2/22/2018 Tucker Energy Services Holdings, Inc. STEP Energy Services Ltd. Equipment & Services 275.00 - -

2/21/2018 EQT Corp. (Pipeline Business) Shareholders Midstream Oil & Gas - - -

2/21/2018 Paragon Offshore Ltd. Borr Drilling Ltd. Exploration & Production 219.42 - -

2/20/2018 XON Energy Resources, Inc. Walker Lane Exploration, Inc. Exploration & Production 1.04 - -

2/19/2018 Seminole Productions LLC (Kight Gilcrease Sand Unit

Oil & Gas)

Desert Energy Corp. Exploration & Production 0.40 - -

2/16/2018 ENSTOR Gas LLC ArcLight Capital Holdings LLC;

Amphora Gas Storage USA LLC

Midstream Oil & Gas 7.50 - -

2/15/2018 Plains All American Pipeline LP (Wamsutter Pipeline

Assets)

Andeavor Logistics LP Midstream Oil & Gas 180.00 - -

2/15/2018 Noble Energy, Inc. (Deepwater Gulf of Mexico Oil &

Gas)

Fieldwood Energy LLC; Riverstone

Investment Group LLC


2/14/2018 Exxon Mobil Corp. (Scarborough Field) Woodside Petroleum Ltd. Exploration & Production 1,488.00 - -

2/8/2018 NuStar GP Holdings LLC NuStar Energy LP Midstream Oil & Gas 780.33 - -

2/8/2018 Glacier Services, Inc. Koniag, Inc. Equipment & Services - - -

2/7/2018 Tallgrass Development LP Tallgrass Equity LLC Midstream Oil & Gas 644.78 - -

2/7/2018 CNX Midstream DevCo III GP LLC CNX Midstream Partners LP Midstream Oil & Gas 278.95 - -

2/6/2018 SandRidge Energy, Inc. Midstates Petroleum Co., Inc. Exploration & Production 517.90 1.45x 3.15x

2/6/2018 Swepi LP (West Quito Draw Oil & Gas Assets) Halcón Energy Properties, Inc. Exploration & Production 200.00 - -

2/5/2018 Hi-Grade Oil Co. Mansfield Energy Corp. Refining & Marketing - - -

2/5/2018 Kenai LNG Corp. Andeavor Midstream Oil & Gas - - -

2/5/2018 Wpx Energy, Inc. (San Juan Basin's Gallup Oil Assets) EnCap Investments LP; Enduring

Resources IV LLC


2/2/2018 BreitBurn Energy Partners LP Lime Rock Management LP Exploration & Production 3,101.85 4.41x 17.04x

2/1/2018 Petroquest Energy, Inc. (MX Oil & Gas Assets) Northstar Offshore Ventures LLC Exploration & Production - - -

1/31/2018 OneEnergy Partners LLC (Delaware Basin) Lilis Energy, Inc. Exploration & Production 70.00 - -

1/31/2018 Alliance Petroleum Corp. (Ohio) Diversified Gas & Oil Plc Exploration & Production 95.00 - -



($ in Mil)

TEV/

Rev

TEV/

EBITDA1/31/2018 CNX Gas Co. LLC (Appalachian Oil & Gas Assets) Diversified Gas & Oil Plc Exploration & Production 85.00 - -

1/30/2018 Premium Oilfield Technologies LLC Quantum Energy Partners LLC Equipment & Services - - -

1/29/2018 Gastar Exploration, Inc. (West Edmund Hunton Lime) Revolution Resources LLC Exploration & Production 107.50 - -

1/24/2018 Samson Offshore Anchor, LLC Total SA Exploration & Production - - -

1/22/2018 Noblett, Inc. (Northern Neck Gas Propane

Distribution)

Quarles Petroleum, Inc. Refining & Marketing - - -

1/16/2018 Energy Transfer Partners LP (2 Subs) USA Compression Partners LP Equipment & Services 1,671.53 - -

1/12/2018 Sage Exploration & Production, Inc. (North West Lost

Hills Asset)

LifeLogger Technologies Corp. Exploration & Production 0.12 - -

1/9/2018 SM Energy Co. - Powder River Basin (Wyoming) Converse Energy Acquisitions LLC Exploration & Production 500.00 - -

1/8/2018 Lucid Energy Group II LLC The Goldman Sachs Group, Inc.;

Goldman Sachs Capital Partners;

Riverstone Investment Group LLC;

Shareholders

Midstream Oil & Gas 1,600.00 - -

1/8/2018 Colonial Fuel Oil Corp. Quarles Petroleum, Inc. Refining & Marketing - - -

1/3/2018 Rangeland Energy II LLC Tesoro Refining & Marketing Co. LLC Midstream Oil & Gas - - -

1/3/2018 Deeprock North LLC Tallgrass Energy Partners LP Exploration & Production 51.32 - -

1/2/2018 Global Energy Ventures Ltd. (Allen Dome & Blue

Ridge Fields)

Viceroy Petroleum LP Exploration & Production 0.34 - -

1/2/2018 Archrock Partners LP Archrock, Inc. Equipment & Services 2,385.46 4.28x 9.69x

1/2/2018 Hunt Oil Co., Inc. (Eagle Ford Shale assets) Penn Virginia Corp. Exploration & Production 86.00 - -


oil & gas report q1 2018

Documents