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Chad Smith

Partner at Kirkland & Ellis

Lawyer

Houston

Deal Bio

Total Deals19

Valued Deals16

Total Value£ 35.06 B

Avg. Deal Size£ 2.19 B

Market Context

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09 Apr 2018|United States|Integrated Oil and Gas

Target: DELAWARE BASIN SUBSIDIARIES

Bidder: MORGAN STANLEY INFRASTRUCTURE PARTNERS

1 Service Providers

1 Bidder

8 Dealmakers

8 Bidder

n/a

Value

24 Jun 2019|United States|Oil Equipment and Services

Target: ELITE COMPRESSION

Bidder: ARCHROCK INC

8 Service Providers

2 Target | 3 Bidder | 3 Vendor

28 Dealmakers

23 Target | 4 Bidder | 1 Vendor

£ 321 M

Value

26 Sep 2019|United States|Integrated Oil and Gas

Target: HILLSTONE ENVIRONMENTAL PARTNERS LLC

Bidder: NGL ENERGY PARTNERS

14 Service Providers

1 Target | 7 Bidder | 6 Vendor

34 Dealmakers

3 Target | 12 Bidder | 19 Vendor

£ 483 M

Value

27 Feb 2020|United States|Oil: Crude Producers

Target: EQM MIDSTREAM PARTNERS

Bidder: EQUITRANS MIDSTREAM CORP

9 Service Providers

3 Target | 6 Bidder

40 Dealmakers

3 Target | 38 Bidder

n/a

Value

04 May 2020|United States|Integrated Oil and Gas

Target: ROYAL DUTCH SHELL PLC (APPALACHIA ASSETS)

Bidder: NATIONAL FUEL GAS COMPANY

8 Service Providers

6 Bidder | 2 Vendor

29 Dealmakers

25 Bidder | 4 Vendor

£ 434 M

Value

03 Aug 2020|United States|Oil Equipment and Services

Target: RANGE RESOURCES (TERRYVILLE UPSTREAM ASSETS)

Bidder: CASTLETON COMMODITIES INTERNATIONAL LLC

11 Service Providers

8 Bidder | 3 Vendor

37 Dealmakers

20 Bidder | 17 Vendor

£ 187 M

Value

02 Oct 2020|United States|Chemicals: Diversified

Target: SASOL (US CHEMICALS BUSINESS)

Bidder: LYONDELLBASELL INDUSTRIES

10 Service Providers

5 Bidder | 5 Vendor

46 Dealmakers

18 Bidder | 30 Vendor

£ 1.55 B

Value

03 Nov 2020|United States|Integrated Oil and Gas

Target: PENN VIRGINIA CORPORATION

Bidder: JUNIPER CAPITAL

11 Service Providers

7 Target | 4 Bidder

45 Dealmakers

18 Target | 27 Bidder

£ 145 M

Value

06 May 2021|United States|Oil Equipment and Services

Target: ALTA RESOURCES (UPSTREAM AND MIDSTREAM ASSETS)

Bidder: EQT CORPORATION

8 Service Providers

5 Bidder | 3 Vendor

44 Dealmakers

14 Bidder | 30 Vendor

£ 2.10 B

Value

20 Dec 2021|United States|Integrated Oil and Gas

Target: MIDCOAST ENERGY (ANADARKO BASIN ASSETS)

Bidder: PRODUCERS MIDSTREAM II

7 Service Providers

4 Bidder | 3 Vendor

27 Dealmakers

24 Bidder | 3 Vendor

n/a

Value

10 Jan 2022|United States|Integrated Oil and Gas

Target: NAVITAS MIDSTREAM PARTNER HOLDINGS

Bidder: ENTERPRISE PRODUCTS PARTNERS LP

7 Service Providers

3 Target | 3 Bidder | 1 Vendor

57 Dealmakers

30 Target | 24 Bidder | 3 Vendor

£ 2.39 B

Value

19 May 2022|United States|Integrated Oil and Gas

Target: COLGATE ENERGY PARTNERS

Bidder: CENTENNIAL RESOURCE DEVELOPMENT INC

8 Service Providers

4 Target | 4 Bidder

40 Dealmakers

13 Target | 27 Bidder

£ 4.27 B

Value

01 May 2022|United States|Integrated Oil and Gas

Target: SENECA’S CALIFORNIA OIL AND GAS ASSETS

Bidder: SENTINEL PEAK RESOURCES CALIFORNIA

5 Service Providers

2 Bidder | 3 Vendor

11 Dealmakers

3 Bidder | 8 Vendor

£ 248 M

Value

15 Dec 2023|United States|Integrated Oil and Gas

Target: ROCKCLIFF ENERGY II LLC

Bidder: TG NATURAL RESOURCES LLC

11 Service Providers

4 Target | 6 Bidder | 1 Vendor

52 Dealmakers

37 Target | 14 Bidder | 1 Vendor

£ 2.13 B

Value

11 Mar 2024|United States|Gas Distribution

Target: EQUITRANS MIDSTREAM CORP

Bidder: EQT CORPORATION

14 Service Providers

7 Target | 7 Bidder

87 Dealmakers

46 Target | 42 Bidder

£ 10.94 B

Value

21 Aug 2024|United States|Integrated Oil and Gas

Target: PIÑON MIDSTREAM

Bidder: ENTERPRISE PRODUCTS PARTNERS LP

7 Service Providers

3 Target | 3 Bidder | 1 Vendor

39 Dealmakers

16 Target | 22 Bidder | 1 Vendor

£ 730 M

Value

06 Jan 2025|United States|Pipelines

Target: EPIC NGL

Bidder: PHILLIPS 66 COMPANY

4 Service Providers

2 Target | 2 Bidder

29 Dealmakers

10 Target | 19 Bidder

£ 1.77 B

Value

31 Mar 2025|United States|Integrated Oil and Gas

Target: CHEVRON (EAST TEXAS GAS ASSETS)

Bidder: TG NATURAL RESOURCES LLC

5 Service Providers

4 Bidder | 1 Vendor

7 Dealmakers

7 Bidder

£ 405 M

Value

03 Apr 2025|United States|Pipelines

Target: COLONIAL ENTERPRISES

Bidder: BROOKFIELD INFRASTRUCTURE PARTNERS

12 Service Providers

8 Bidder | 4 Vendor

27 Dealmakers

10 Bidder | 17 Vendor

£ 6.95 B

Value