M&A Deal Summary

EnerVest Acquires Laredo Petroleum - Anadarko Basin Assets

On May 21, 2013, EnerVest acquired energy services and equipment company Laredo Petroleum - Anadarko Basin Assets from Laredo Petroleum for 438M USD

Acquisition Highlights
  • This is EnerVest’s 1st transaction in the Energy Services and Equipment sector.
  • This is EnerVest’s largest (disclosed) transaction.
  • This is EnerVest’s 1st transaction in the United States.
  • This is EnerVest’s 1st transaction in Oklahoma.

M&A Deal Summary
Date 2013-05-21
Target Laredo Petroleum - Anadarko Basin Assets
Sector Energy Services and Equipment
Buyer(s) EnerVest
Sellers(s) Laredo Petroleum
Deal Type Divestiture
Deal Value 438M USD

Target

Laredo Petroleum - Anadarko Basin Assets

Tulsa, Oklahoma, United States
Laredo Petroleum - Anadarko Basin Assets consists of approximately 104,000 net acres of leasehold and approximately 4.9 billion cubic feet of liquids-rich natural gas and approximately 49.6 thousand barrels of crude oil and condensate.

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Buyer(S) 1

Buyer

EnerVest

Houston, Texas, United States

website

Category Company
Sector Oil/Gas Exploration
Employees1,200
DESCRIPTION

EnerVest, Ltd. is an oil and gas company involved in operates wells to produce oil and natural gas.

DEAL STATS #
Overall 1 of 2
Sector (Energy Services and Equipment) 1 of 2
Type (Divestiture) 1 of 2
State (Oklahoma) 1 of 1
Country (United States) 1 of 2
Year (2013) 1 of 2
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-05 SM Energy - Anadarko Basin Assets

Denver, Colorado, United States

SM Energy - Anadarko Basin Assets include approximately 58,000 net mineral acres, includes Granite Wash.

Buy $343M

Seller(S) 1

SELLER

Laredo Petroleum

Tulsa, Oklahoma, United States

website

Category Company
Founded 2006
Sector Energy Services and Equipment
Employees273
Revenue 1.4B USD (2021)
DESCRIPTION

Laredo Petroleum is an independent energy company. Laredo's business strategy is focused on the acquisition, exploration and development of oil and natural gas properties. Laredo Petroleum was founded in 2006 and is based in Tulsa, Oklahoma.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Oklahoma) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-15 Broad Oak Energy

Dallas, Texas, United States

Broad Oak Energy, Inc. is a start-up exploration and production company formed to focus on unconventional oil and gas plays in onshore regions of the United States.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-09 Sabalo Energy

Corpus Christi, Texas, United States

Sabalo Energy is an independent oil and gas company focused on the exploration and exploitation of oil and gas properties in various onshore U.S. basins. Sabalo Energy is based in Corpus Christi, Texas.

Buy $715M
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