M&A Deal Summary

BHP Acquires Fayetteville Shale assets - BHP Billiton

On February 22, 2011, BHP acquired oil/gas exploration company Fayetteville Shale assets - BHP Billiton from Chesapeake Energy for 4.8B USD

Acquisition Highlights
  • This is BHP’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is BHP’s 3rd largest (disclosed) transaction.
  • This is BHP’s 2nd transaction in the United States.
  • This is BHP’s 1st transaction in Oklahoma.

M&A Deal Summary
Date 2011-02-22
Target Fayetteville Shale assets - BHP Billiton
Sector Oil/Gas Exploration
Buyer(s) BHP
Sellers(s) Chesapeake Energy
Deal Type Divestiture
Deal Value 4.8B USD

Target

Fayetteville Shale assets - BHP Billiton

Oklahoma City, Oklahoma, United States
Chesapeake's Fayetteville shale assets include approximately 487,000 acres of leasehold and producing natural gas properties located in Arkansas, USA.

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Buyer(S) 1

Buyer

BHP

Melbourne, Australia

website

Category Company
Founded 1851
Sector Metals/Mining
Employees31,589
Revenue 42.9B USD (2020)
DESCRIPTION

BHP is a multinational mining and oil/gas exploration company. BHP was formed in 2001 from the merger of Australian Broken Hill Proprietary Company Limited (BHP) and the Anglo–Dutch Billiton plc. BHP was founded in 1851 and is based in Melbourne, Australia.

DEAL STATS #
Overall 6 of 7
Sector (Oil/Gas Exploration) 2 of 3
Type (Divestiture) 2 of 2
State (Oklahoma) 1 of 1
Country (United States) 2 of 3
Year (2011) 1 of 2
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-28 Athabasca Potash

Saskatoon, Saskatchewan, Canada

Athabasca Potash, Inc. provides potash to Saskatchewan basin.

Buy $341M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-26 Petrohawk Energy

Houston, Texas, United States

Petrohawk Energy Corporation was a publicly-traded E&P company based in Houston. The Company was formed in May 2003 by Floyd Wilson, the former founder and CEO of 3TEC Energy.

Buy $15.1B

Seller(S) 1

SELLER

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 1 of 9
Sector (Oil/Gas Exploration) 1 of 6
Type (Divestiture) 1 of 8
State (Oklahoma) 1 of 4
Country (United States) 1 of 9
Year (2011) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 Empresa Energy II

Houston, Texas, United States

Empresa Energy II is an independent oil and gas acquisition and development company focused on acquiring and exploiting properties in various unconventional resource plays.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-15 Bronco Drilling

El Reno, Oklahoma, United States

Bronco Drilling Company, Inc,is a provider of contract land drilling to oil and natural gas exploration and production companies.

Buy $315M
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