M&A Deal Summary

Ajax Resources Acquires W&T Offshore - Permian Basin Assets

On September 1, 2015, Ajax Resources acquired oil/gas exploration company W&T Offshore - Permian Basin Assets from W&T Offshore for 376M USD

Acquisition Highlights
  • This is Ajax Resources’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Ajax Resources’ largest (disclosed) transaction.
  • This is Ajax Resources’ 1st transaction in the United States.
  • This is Ajax Resources’ 1st transaction in Texas.

M&A Deal Summary
Date 2015-09-01
Target W&T Offshore - Permian Basin Assets
Sector Oil/Gas Exploration
Buyer(s) Ajax Resources
Sellers(s) W&T Offshore
Deal Type Divestiture
Deal Value 376M USD

Target

W&T Offshore - Permian Basin Assets

Texas, United States
W&T Offshore - Permian Basin Assets includes approximately 25,800 highly contiguous net acres in Andrews, Martin, Gaines and Dawson counties in West Texas.

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Buyer(S) 1

Buyer

Ajax Resources

Houston, Texas, United States

website

Category Company
Founded 2015
Sector Oil/Gas Exploration
DESCRIPTION

Ajax Resources LLC is an exploration and production company focusing on oil and gas development in the Permian Basin. Company production and well site teams continuously analyze hazards associated with their work and build in appropriate safe design into their work sites.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-09 Ajax Resources - Midland Basin Assets

Houston, Texas, United States

Ajax Resources LLC - Midland Basin Assets includes 25,493 net leasehold acres and Current average net production of ~12,000 boe/d (88% oil), 367 net identified potential horizontal drilling locations with an average lateral length of over 9,500 feet and Meaningful saltwater disposal and fresh water access infrastructure.

Sell $900M

Seller(S) 1

SELLER

W&T Offshore

Houston, Texas, United States

website

Category Company
Founded 1983
Sector Oil/Gas Exploration
Employees303
Revenue 558M USD (2021)
DESCRIPTION

W&T Offshore is an independent oil and natural gas acquisition, exploitation and exploration services. W&T Offshore was founded in 1983 and is based in Houston, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-12 ConocoPhillips - Oil-Weighted Producing Property

United States

ConocoPhillips' Oil-Weighted Producing Property provides upside from additional pay sands in existing well bores and potential opportunities for future drilling.

Buy $20M
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