M&A Deal Summary

RedBird Capital Partners and Aethon Energy Acquire Encana Oil & Gas - Moneta Divide Assets

On May 1, 2015, private equity firms RedBird Capital Partners and Aethon Energy acquired oil/gas exploration company Encana Oil & Gas - Moneta Divide Assets from Encana Oil & Gas

Acquisition Highlights
  • This is RedBird Capital Partners’ 1st and Aethon Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is RedBird Capital Partners’ 4th and Aethon Energy’s 1st transaction in the United States.
  • This is RedBird Capital Partners’ 1st and Aethon Energy’s 1st transaction in Wyoming.

M&A Deal Summary
Date 2015-05-01
Target Encana Oil & Gas - Moneta Divide Assets
Sector Oil/Gas Exploration
Buyer(s) RedBird Capital Partners
Aethon Energy
Sellers(s) Encana Oil & Gas
Deal Type Divestiture

Target

Encana Oil & Gas - Moneta Divide Assets

Wind River Basin, Wyoming, United States
Encana Oil & Gas' Moneta Divide Assets comprise approximately 188,000 net acres in Wyoming in the Wind River Basin. The asset is a low-risk resource with a long reserve life and low-cost drilling opportunities.

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Buyer(S) 2

Buyer

RedBird Capital Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2014
PE ASSETS 8.6B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

RedBird Capital Partners is a private equity firm focused on investing in growth-oriented companies in the business services, financial services, sports/leisure/hospitality, and media/entertainment sectors. RedBird will consider opportunities throughout North America and has a particular interest in businesses at an inflection point with proven business models, strong management, and little debt. RedBird Capital Partners was formed in 2014 and is based in New York, New York.

DEAL STATS #
Overall 4 of 29
Sector (Oil/Gas Exploration) 1 of 5
Type (Divestiture) 3 of 5
State (Wyoming) 1 of 1
Country (United States) 4 of 26
Year (2015) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-30 Aethon Energy

Dallas, Texas, United States

Aethon Energy is an integrated upstream and midstream company primarily focused on the acquisition and development of assets in East Texas / North Louisiana across the Haynesville shale. Aethon Energy was founded in 1990 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-01 SM Energy - Ark-LA-Tex assets

United States

Ark-LA-Tex's is a producer of Current its assets comprise of approximately 76,300 net acres with current net production of 29 MMcfe/d, 98 percent of which is gas. Ark-LA-Tex is based in the United States.

Buy -
Buyer

Aethon Energy

website

Category Private Equity Firm
Founded 1990
Size Small
Type Sector Focused
DESCRIPTION

Aethon Energy is a direct investor in North American onshore oil and gas assets. Aethon focuses on acquiring under appreciated assets, where opportunities exists to add value through lower risk development, operational enhancements and Aethon's technical knowledge. Aethon Energy was established in 1990 and is based in Dallas, Texas.

DEAL STATS #
Overall 1 of 3
Sector (Oil/Gas Exploration) 1 of 2
Type (Divestiture) 1 of 3
State (Wyoming) 1 of 1
Country (United States) 1 of 3
Year (2015) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-01 SM Energy - Ark-LA-Tex assets

United States

Ark-LA-Tex's is a producer of Current its assets comprise of approximately 76,300 net acres with current net production of 29 MMcfe/d, 98 percent of which is gas. Ark-LA-Tex is based in the United States.

Buy -

Seller(S) 1

SELLER

Encana Oil & Gas

Denver, Colorado, United States
Category Company
Founded 1987
Sector Oil/Gas Exploration
DESCRIPTION

Encana Oil & Gas (USA), Inc. is a provider of oil/gas exploration services.

DEAL STATS #
Overall 2 of 5
Sector (Oil/Gas Exploration) 2 of 4
Type (Divestiture) 2 of 5
State (Wyoming) 1 of 1
Country (United States) 2 of 5
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-09 Piceance Creek Pipeline

United States

Piceance Creek Pipeline, a 48-mile, 36-inch diameter natural gas gathering pipeline in the Piceance Basin of northwest Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-09 DJ Basin Oil & Gas - Assets

Colorado, United States

DJ Basin acreage comprises 51,000 net acres. During the first half of 2015, the assets produced an average of 52 million cubic feet per day (MMcf/d) of natural gas and 14,800 barrels per day of crude oil and natural gas liquids.

Sell $900M
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