M&A Deal Summary

Canvas Energy Acquires Cabot Oil & Gas - Panhandle Marmaton Assets

On December 19, 2013, Canvas Energy acquired oil/gas exploration company Cabot Oil & Gas - Panhandle Marmaton Assets from Coterra Energy for 160M USD

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

M&A Deal Summary

Date 2013-12-19
Target Cabot Oil & Gas - Panhandle Marmaton Assets
Sector Oil/Gas Exploration
Buyer(s) Canvas Energy
Sellers(s) Coterra Energy
Deal Type Divestiture
Deal Value 160M USD

Target

Cabot Oil & Gas - Panhandle Marmaton Assets

United States
Cabot Oil & Gas - Panhandle Marmaton Assets consists of oil and gas exploration services.

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Buyer(S) 1

Buyer

Canvas Energy

Oklahoma City, Oklahoma, United States

website


Category Company
Founded 1988
Sector Oil/Gas Exploration
DESCRIPTION

Canvas Energy is an independent oil and gas production and exploitation company. Canvas Energy has increased reserves and production primarily by acquiring and enhancing properties in its core areas of the Mid-Continent (Oklahoma and North Texas) and the Permian Basin (West Texas). Canvas Energy was founded in 1988 and is based in Oklahoma City.


DEAL STATS #
Overall 2 of 2
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 2 of 2
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-16 Green Country Supply

Oklahoma City, Oklahoma, United States

Green Country Supply, Inc. manufactures pipeline and solid chemical products for the oil and gas industries in US.

Buy -

Seller(S) 1

SELLER

Coterra Energy

Houston, Texas, United States

website


Category Company
Founded 1989
Sector Oil/Gas Exploration
Employees981
Revenue 9.1B USD (2022)
DESCRIPTION
Cabot Oil & Gas' corporate headquarters in Houston, Texas.
Cabot Oil & Gas' corporate headquarters in Houston, Texas.

Coterra Energy is an oil and gas company engaged in the development and exploration of oil and gas properties in the continental United States. Coterra Energy continues to refine its operating focus, narrowing its natural gas development effort to the Marcellus shale in northeast Pennsylvania and its oil development effort to the Eagle Ford shale in South Texas. Coterra Energy was founded in 1989 and is based in Houston, Texas.


DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 2
Type (Divestiture) 1 of 2
Country (United States) 1 of 2
Year (2013) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-10 Enduring Resources

Denver, Colorado, United States

Enduring Resources LLC acquires, exploits, explores for and develops natural gas and oil in the Rocky Mountain and Mid-Continent regions of the U.S.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-19 Cabot Oil & Gas - Cabot Eagle Ford Assets

Houston, Texas, United States

Cabot Oil & Gas Corp. - Cabot Eagle Ford Assets include approximately 303 gross/203 net wells and 74,400 net acres situated primarily in the Eagle Ford oil window of South Texas (Atascosa, Frio, and LaSalle counties).

Sell $765M