Stake Purchase • Oil/Gas Exploration

Metalmark Capital Invests In Somerset Energy

On December 1, 1997, private equity firm Metalmark Capital invested in oil/gas exploration company Somerset Energy

Investment Context
  • This is Metalmark Capital’s 4th transaction in the Oil/Gas Exploration sector.
  • This is Metalmark Capital’s 19th transaction in the United States.
  • This is Metalmark Capital’s 2nd transaction in Pennsylvania.
Investment Fate
  • Somerset Energy was sold to a strategic buyer in 2000.

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Investment Summary

Date December 1, 1997
Target Somerset Energy
Sector Oil/Gas Exploration
Investor(s) Metalmark Capital
Deal Type Stake Purchase

Target Company

Somerset Energy

Somerset, Pennsylvania, United States
Somerset Energy was an independent energy company that was formed to acquire, develop and produce and oil and natural gas located in the Appalachian Basin.
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Investor Overview 1

Investor

Metalmark Capital

New York, New York, United States

Category Private Equity Firm
Founded 2004
PE ASSETS 8.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Metalmark Capital is an independent private equity group focused on large company transactions in a wide range of industries. Metalmark is a hands-on investment firm looking to build long-term value in its portfolio companies. Broad areas of interest include natural resources/energy, healthcare services, industrials, food, transportation, and financial services. Metalmark was established in 2004 by the former principals of Morgan Stanley Capital Partners to manage the Metalmark Capital and Morgan Stanley Capital Partners funds. Metalmark is based in New York City.


Deal Context for Investor #
Overall 20 of 60
Sector: Oil/Gas Exploration 4 of 11
Type: Stake Purchase 15 of 20
State: Pennsylvania 2 of 3
Country: United States 19 of 56
Year: 1997 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-12-01 Union Drilling

Fort Worth, Texas, United States

Union Drilling is a drilling contractor in the United States with operations in the Appalachian Basin, the Rockies, Oklahoma and Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Jefferson Smurfit

Saint Louis, Missouri, United States

Jefferson Smurfit Corporation is one of the nation's largest integrated producers of paperboard, packaging products and newsprint. In 1998, Jefferson Smurfit Corporation and Stone Container Corporation merged to form Smurfit-Stone Container Corporation, [Nasdaq: SSCC] a leading producer of integrated producer of containerboard, corrugated containers and packaging products.

Sell -