M&A Deal Summary

Penn Virginia Acquires Lonestar Resources

On July 12, 2021, Penn Virginia acquired oil/gas exploration company Lonestar Resources

Acquisition Highlights
  • This is Penn Virginia’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is Penn Virginia’s 2nd transaction in the United States.
  • This is Penn Virginia’s 1st transaction in Texas.

M&A Deal Summary
Date 2021-07-12
Target Lonestar Resources
Sector Oil/Gas Exploration
Buyer(s) Penn Virginia
Deal Type Add-on Acquisition
Advisor(s) Barclays Investment Bank (Financial)
Vinson & Elkins (Legal)

Target

Lonestar Resources

Fort Worth, Texas, United States
website
Lonestar Resources is an independent oil and natural gas company focused on the development, production, and acquisition of unconventional oil, NGLs, and natural gas properties in the Eagle Ford Shale in Texas. Lonestar Resources was based in 2015 and is based in Fort Worth, Texas

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Buyer(S) 1

Buyer

Penn Virginia

Radnor, Pennsylvania, United States

website

Category Company
Founded 1882
Sector Oil/Gas Exploration
Employees164
Revenue 160M USD (2017)
DESCRIPTION

Penn Virginia Corp. is a pure-play independent oil and gas company engaged in the development and production of oil, NGLs and natural gas, operating in the Eagle Ford shale in south Texas.

DEAL STATS #
Overall 2 of 2
Sector (Oil/Gas Exploration) 2 of 2
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-02 Hunt Oil - Eagle Ford Shale Assets

Gonzales, Louisiana, United States

Hunt Oil Co., Inc. - Eagle Ford Shale Assets is a provider of oil and gas exploration services in Gonzales and Lavaca Counties.

Buy $86M
Mergr

Product

Company

Legal