M&A Deal Summary

Citizen Energy Acquires Roan Resources

On October 1, 2019, Citizen Energy acquired oil/gas exploration company Roan Resources for 1.0B USD

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

M&A Deal Summary
Date 2019-10-01
Target Roan Resources
Sector Oil/Gas Exploration
Buyer(s) Citizen Energy
Deal Type Add-on Acquisition
Deal Value 1.0B USD
Advisor(s) Citigroup Investment Banking
Jefferies (Financial)
Vinson & Elkins (Legal)

Target

Roan Resources

Oklahoma City, Oklahoma, United States
website
Roan Resources, Inc. is an independent oil and natural gas company focused on the development, exploration, and acquisition of unconventional oil and natural gas reserves in the Merge, SCOOP, and STACK. Roan Resources. Roan Resources was founded in 2018 and is based in Oklahoma City, Oklahoma.

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Buyer(S) 1

Buyer

Citizen Energy

Tulsa, Oklahoma, United States

website

Category Company
Sector Oil/Gas Exploration
DESCRIPTION

Citizen Energy is an integrated oil and natural gas company engaged in the acquisition, development, production, exploration and sale of crude oil and natural gas properties located in Oklahoma, primarily targeting the Meramec and Woodford Shale formations. In addition to its upstream properties, Citizen operates ~213 miles of natural gas gathering pipelines, 225 MMcf/d of gas processing capacity, and ~103 miles of water gathering pipelines. Citizen Energy is based in Tulsa, Oklahoma.

DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Oklahoma) 1 of 2
Country (United States) 1 of 2
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-29 Red Bluff Resources

Oklahoma City, Oklahoma, United States

Red Bluff Resources is an independent oil and natural gas company.

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Legal