Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
Tokyo Gas Is Set to Buy Rockcliff Energy: One of the Top Haynesville's Producers
01/11/2023
On January 3, U.S. natural gas producer Rockcliff Energy from private equity firm Quantum Energy Partners was set to be sold to a unit of Tokyo Gas Co. Ltd. for roughly $4.6 billion, including debt.
The all-cash agreement with Houston-based TG Natural Resources, which is 70% possessed by the Japanese energy firm, is decided to be claimed this month, according to anonymous resources, as the discussions were requested to be confidential. Castleton Commodities International (CCI) owns the rest of TG Natural Resources.
TG Natural Resources is organizing funding from several financing sources to sponsor the transaction, including banks and private credit providers, however, no deal was guaranteed and the talks could end without a final agreement.
The agreement would be the latest move by a Japanese entity to secure gas in jurisdictions perceived as friendly, the importance of which has increased for the import-dependent Asian nation after supply markets for the commodity were roiled by Russia's invasion of Ukraine.
Quantum and CCI refused to comment, Rockcliff and TG Natural Resources has not responded to requests for comment yet, and Tokyo Gas was not immediately available to comment.
Rockcliff generates more than 1 Bcf/d of natural gas from the Haynesville shale formation, which spans across Louisiana and East Texas. Quantum originally financed the Rockcliff management team with a $350 million investment in 2015. Rockcliff Energy is widely accepted as a leader in the Haynesville Shale: more than 270,000 net acres in East Texas, almost 90% of the acreage is held by production, and it comprises 100% non-federal lands.
Buying Rockcliff would incredibly raise TG Natural Resources' operations, with the company producing almost 330 net MMcf/d as of June 2022 from the Haynesville formation, the company admits on its website.
Japan's biggest city gas supplier is in the midst of a portfolio reshuffle targeted at moving resources to growth areas. In October, Tokyo Gas agreed to sell its stakes in a portfolio of four Australian LNG projects for $2.15 billion to a unit of U.S. investment firm EIG.
As Russia's invasion of Ukraine has stopped gas supply flows to Europe and led European nations to import record amounts of LNG cargoes, it strained global supplies and elevated prices.
Not possessing a rich amount of resources, Japan has been working to diversify from Russia's Sakhalin project, which estimates for 9% of Japan's total LNG imports of 74.3 million tonnes a year.
Japanese companies signed several deals on December 28 to get LNG supplies, with a preliminary agreement lasting up to 10 years with Oman LNG and a 20-year deal with U.S.-based Venture Global. Moreover, Japan imported 7.1 million tonnes of LNG from the United States in 2021, estimated for 9.5% of its total imports.
On January 4, Tokyo Gas shares decline by 5.07% at the midday break in Tokyo trading.
.png)
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
NOG Grows Its Acreage Position in Delaware
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/113Blog_NOG_Closes_Northern_Delaware_Basin Acquisition_12_2022 (1).png)
According to the company’s press release on December 19, Northern Oil and Gas Inc. (NOG) closed its announced deal with a private seller of non-operated interests in the Northern Delaware Basin for $131.6 million in cash. The acquisition was announced with a $13 million deposit in October and is the third Permian Basin acquisition since August, adding to NOG’s $400 million of Permian Basin acquisitions in 2022. The assets of 2,100 net acres are primarily operated by a private company Mewbourne Oil Co., with production anticipated to total almost 2,500 boe/d in 2023. Also, Coterra Energy Inc. and Permian Resource Corp. are operators of the assets. The assets contain high-quality, low breakeven development that is leveraged to some of NOG’s top operating partners, as our investors have come to expect.
CA$375 Million Bolt-on Deal to Expand Crescent Point
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/109Blog_Crescent_Buys_Acreage_from_Paramount_12_2022.png)
On December 9, Crescent Point Energy Corp. announced a purchase and sale agreement to develop its core Kaybob Duvernay assets, which will bolt on production, the midstream infrastructure and technical data. With the deal, the company has committed more than US $1 billion to the play. Crescent Point, the Alberta-based company, is purchasing almost 65,000 net acres from Paramount Resources Ltd. for CA $375 (US $274 million) cash. The assets estimate more than 4,000 boe/d, 50% liquids, and include a gas plant, associated pipelines, water infrastructure, and seismic data. The acquired asset’s production consists of 35% condensate, 15% NGL, and 50% shale gas.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/184Blog_Rangeland Energy Divests Canadian Pipeline to Kingston Midstream.png)
Rangeland Energy has agreed to sell Rangeland Midstream Canada to Kingston Midstream Alberta and remains committed to future Canadian midstream investments. Texas-based Rangeland Energy, supported by financial partner EnCap Flatrock Midstream, has inked a deal to sell its Canadian subsidiary, Rangeland Midstream Canada Ltd., to Calgary's Kingston Midstream Alberta Ltd. for cash.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/187Blog_ONEOK Completes Acquisition of Magellan Midstream.png)
The merger between ONEOK and Magellan received approval from Magellan shareholders, securing just 55% of the total votes at Magellan’s meeting on Sept. 21. ONEOK Inc. has successfully concluded the acquisition of Magellan Midstream Partners LP on Sept. 25. The deal will bring together their respective assets and expertise, resulting in a powerful entity boasting an extensive network of approximately 25,000 miles of pipelines primarily focused on transporting liquids.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/186Blog_Viper Energy Secures $1 Billion in Permian.png)
Viper Energy's deal, comprised of cash and equity, secures an additional 2,800 net royalty acres in the Midland Basin and 1,800 in the Delaware Basin. Viper Energy Partners LP, a Diamondback Energy Inc. subsidiary, has inked a deal to acquire mineral and royalty interests in the Permian Basin. The deal, valued at around $1 billion, is with Warwick Capital Partners and GRP Energy Capital. Viper was established by Diamondback with the purpose of owning, purchasing, and capitalizing on oil and natural gas assets in North America, specifically targeting mineral and royalty interests.