M&A Deal Summary

Chesapeake Energy Acquires Vine Energy

On August 11, 2021, Chesapeake Energy acquired oil/gas exploration company Vine Energy from The Blackstone Group for 2.2B USD

Acquisition Highlights
  • This is Chesapeake Energy’s 10th transaction in the Oil/Gas Exploration sector.
  • This is Chesapeake Energy’s 4th largest (disclosed) transaction.
  • This is Chesapeake Energy’s 11th transaction in the United States.
  • This is Chesapeake Energy’s 8th transaction in Texas.

M&A Deal Summary
Date 2021-08-11
Target Vine Energy
Sector Oil/Gas Exploration
Buyer(s) Chesapeake Energy
Sellers(s) The Blackstone Group
Deal Type Add-on Acquisition
Deal Value 2.2B USD
Advisor(s) Citigroup Investment Banking (Financial)
Kirkland & Ellis (Legal)

Target

Vine Energy

Plano, Texas, United States
website
Vine Energy is an energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana. Vine Energy was founded in 2014 and is based in Plano, Texas.

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Buyer(S) 1

Buyer

Chesapeake Energy

Oklahoma City, Oklahoma, United States

website

Category Company
Founded 1989
Sector Oil/Gas Exploration
Employees1,200
Revenue 11.4B USD (2022)
DESCRIPTION

Chesapeake Energy is a producer of natural gas and the 12th major producer of oil and natural gas liquids in the U.S., with an industry-leading portfolio of high-quality unconventional assets in top onshore plays. Chesapeake Energy was incorporated in 1989 and is based in Oklahoma City, Oklahoma.

DEAL STATS #
Overall 11 of 12
Sector (Oil/Gas Exploration) 10 of 11
Type (Add-on Acquisition) 11 of 11
State (Texas) 8 of 9
Country (United States) 11 of 12
Year (2021) 1 of 1
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-31 MidCon Compression

Oklahoma City,, Oklahoma, United States

MidCon Compression LLC includes 162 compression units, with a total horsepower of approximately 110,000. The majority of the units currently are being used to provide compression services to BHP Billiton Petroleum in Arkansas’ Fayetteville Shale.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-11 Southwestern Energy

Spring, Texas, United States

Southwestern Energy is a national energy company. Southwestern Energy primarily engages in natural gas and crude oil exploration, development and production. Southwestern Energy was founded in 1929 and is based in Spring, Texas.

Buy $7.4B

Seller(S) 1

SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.

DEAL STATS #
Overall 155 of 170
Sector (Oil/Gas Exploration) 4 of 5
Type (Add-on Acquisition) 59 of 66
State (Texas) 16 of 17
Country (United States) 95 of 102
Year (2021) 11 of 16
Size (of disclosed) 20 of 56
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-19 Simplilearn

Bangalore , India

Simplilearn is an online learning ‘bootcamp’ based in India offering digital skills training and courses to working professionals all over the world. Simplilearn was founded in 2010 and is based in Bangalore, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-24 Vungle

San Francisco, California, United States

Vungle is a performance marketing platform for in-app video advertisements on mobile devices. Mobile application developers partner with Vungle to monetize their apps through innovative in-app ad experiences that are inspired by insight and crafted with creativity. Advertisers depend on Vungle to reach, acquire, and retain high-value users worldwide. Vungle develops tools that include data-led buying and UX recommendations, ad format innovation, creative automation, and more. Vungle’s data-optimized ads run on over 1 billion unique devices to drive engagement and increase returns for publishers and advertisers ranging from indie studios to powerhouse brands, including Rovio, Zynga, Pandora, Microsoft, and Scopely. The Company is headquartered in San Francisco.

Sell -
Mergr

Product

Company

Legal