M&A Deal Summary

CorEnergy Acquires Grand Isle Gathering System

On June 30, 2015, CorEnergy acquired oil/gas exploration company Grand Isle Gathering System from Energy XXI for 245M USD

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

M&A Deal Summary

Date 2015-06-30
Target Grand Isle Gathering System
Sector Oil/Gas Exploration
Buyer(s) CorEnergy
Sellers(s) Energy XXI
Deal Type Divestiture
Deal Value 245M USD
Advisor(s) Husch Blackwell LLP (Legal)

Target

Grand Isle Gathering System

Isle of Man, United Kingdom
Grand Isle Gathering System is a subsea, midstream pipeline system with related onshore facilities serving oil-producing fields in the shallow portion of the Gulf of Mexico.

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Buyer(S) 1

Buyer

CorEnergy

Kansas City, Missouri, United States

website


Category Company
Sector Real Estate
Employees155
Revenue 128M USD (2021)
DESCRIPTION

CorEnergy is a REIT focused on energy infrastructure primarily owns midstream and downstream assets that perform utility-like functions, such as pipelines, storage terminals, and transmission and distribution assets. CorEnergy is based in Kansas City, Missouri.


DEAL STATS #
Overall 2 of 4
Sector (Oil/Gas Exploration) 1 of 3
Type (Divestiture) 1 of 2
Country (United Kingdom) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-25 MoGas Energy

Rapid City, South Dakota, United States

MoGas Energy LLC owns and operates a 263-mile natural gas pipeline that serves the area in and around St. Louis and into central Missouri.

Buy $125M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-07 Pinedale Liquids Gathering System

Pinedale, Wyoming, United States

Pinedale Liquids Gathering System was completed in 2010 and consists of more than 150 miles of underground gathering pipelines with 107 receipt points and four above-ground central gathering facilities that are utilized by UPL as a method of separating water, condensate and associated natural gas from a unified stream and subsequently selling or treating and disposing of the separated products.

Buy $225M

Seller(S) 1

SELLER

Energy XXI

Houston, Texas, United States

website


Category Company
Founded 2005
Sector Oil/Gas Exploration
Employees378
Revenue 542M USD (2017)
DESCRIPTION

Energy XXI Ltd. is an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program.


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
Country (United Kingdom) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-12 EPL Oil & Gas

New Orleans, Louisiana, United States

EPL Oil & Gas, Inc. a Independent oil and natural gas exploration and production company focused on the shallow to moderate depth waters of the Gulf of Mexico Shelf.

Buy $2.3B