M&A Deal Summary

BP Acquires Archaea Energy

On October 17, 2022, BP acquired renewable energy company Archaea Energy for 4.1B USD

Acquisition Highlights
  • This is BP’s 1st transaction in the Renewable Energy sector.
  • This is BP’s 3rd largest (disclosed) transaction.
  • This is BP’s 6th transaction in the United States.
  • This is BP’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2022-10-17
Target Archaea Energy
Sector Renewable Energy
Buyer(s) BP
Deal Type Add-on Acquisition
Deal Value 4.1B USD
Advisor(s) BofA Securities (Financial)
Kirkland & Ellis (Legal)

Target

Archaea Energy

Canonsburg, Pennsylvania, United States
website
Archaea Energy is a developer of renewable natural gas for high-carbon emission processes and industries by capturing recurring emissions from food waste, wastewater, agricultural waste, and landfill gas. Archaea builds, operates, and manages RNG projects during the entire energy life cycle and offers off-take partners the opportunity to purchase RNG from Archaea’s portfolio of projects under long-term agreements. The company's experienced team of landfill owners, engineers and RNG experts empower organizations to reach their sustainability goals by turning carbon into a long-term renewable energy asset that is a predictable source of revenue. It delivers pipeline-quality RNG from coast to coast using the existing natural gas infrastructure. Archaea Energy was formed in 2018 and is based in Canonsburg, Pennsylvania.

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Buyer(S) 1

Buyer

BP

London, United Kingdom

website

Category Company
Founded 1908
Sector Oil/Gas Exploration
Employees65,900
Revenue 157.7B USD (2021)
DESCRIPTION
BP fuel station in Duluth, Minnesota.
BP fuel station in Duluth, Minnesota.

BP is an integrated oil and gas company with operations in Europe, the US, Canada, Russia, South America, Australasia, Asia and parts of Africa. BP provides customers with fuel for transportation, energy for heat and light, lubricants, and petrochemicals products used to make items as diverse as paints, clothes and packaging. BP was founded in 1908 and is based in London, the United Kingdom.

DEAL STATS #
Overall 9 of 9
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (Pennsylvania) 1 of 1
Country (United States) 6 of 6
Year (2022) 2 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-12 EDF Energy

Houston, Texas, United States

EDF Energy is a provider of power, natural gas, and related services to C&I customers across the US. EDF Energy's customers are primarily large corporations and public entities, including retailers, universities, manufacturers and producers, municipalities, and power generators. It does not supply residential consumers. EDF Energy is based in Houston, Texas.

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