M&A Deal Summary

Energy XXI Acquires EPL Oil & Gas

On March 12, 2014, Energy XXI acquired oil/gas exploration company EPL Oil & Gas from Evercore Capital Partners for 2.3B USD

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

M&A Deal Summary

Date 2014-03-12
Target EPL Oil & Gas
Sector Oil/Gas Exploration
Buyer(s) Energy XXI
Sellers(s) Evercore Capital Partners
Deal Type Add-on Acquisition
Deal Value 2.3B USD
Advisor(s) Barclays Investment Bank (Financial)
Sidley Austin LLP (Legal)

Target

EPL Oil & Gas

New Orleans, Louisiana, United States
website
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.

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Buyer(S) 1

Buyer

Energy XXI

Houston, Texas, United States

website


Category Company
Founded 2005
SectorOil/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 (Add-on Acquisition) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-30 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.

Sell $245M

Seller(S) 1

SELLER

Evercore Capital Partners

New York, New York, United States


Category Private Equity Firm
Founded 1996
SizeLarge
Type Sector Agnostic
DESCRIPTION

Evercore Capital Partners (ECP) is the private equity arm of investment bank Evercore Partners. ECP is part of Evercore's Investment Management division which also consists of Evercore Ventures, Evercore Asset Management, and Protego Asesores, a Mexico focused private equity fund launched jointly with Discovery Capital Partners. ECP seeks investments in middle-market businesses valued greater than $50 million. ECP looks for value situations with post-investment upside, and will consider opportunities in a variety of industries. Evercore was founded in 1996 and is based in New York City.


DEAL STATS #
Overall 7 of 9
Sector (Oil/Gas Exploration) 1 of 2
Type (Add-on Acquisition) 3 of 4
State (Louisiana) 1 of 1
Country (United States) 7 of 9
Year (2014) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-01 Alliantgroup

Houston, Texas, United States

Alliant provides complex tax consulting services to U.S. companies to help them identify, calculate and claim various state, local and federal tax credits on their business tax returns. Alliant is the leader in the $10 billion Research & Development tax credit vertical, which is just one niche within a market of over 7,000 available tax credits. Alliant was founded in 2001 and is currently led by its two founders, who have demonstrated the ability to grow the company consistently since inception.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-16 Diagnostic Imaging Group

Hicksville, New York, United States

Diagnostic Imaging Group LLC is a provider of outpatient diagnostic imaging centers.

Sell $57M