M&A Deal Summary

Newfield Exploration Acquires EEX

On November 26, 2002, Newfield Exploration acquired oil/gas exploration company EEX for 640M USD

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

M&A Deal Summary
Date 2002-11-26
Target EEX
Sector Oil/Gas Exploration
Buyer(s) Newfield Exploration
Deal Type Merger
Deal Value 640M USD

Target

EEX

United States
EEX Corp. is an oil and gas exploration and production company with activities currently focused in Texas, Louisiana and the Gulf of Mexico.

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Buyer(S) 1

Buyer

Newfield Exploration

The Woodlands, Texas, United States

website

Category Company
Founded 1988
Sector Oil/Gas Exploration
Employees1,111
Revenue 1.6B USD (2015)
DESCRIPTION

Newfield Exploration Co. is an independent energy company. Newfield is engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. The Company relies on a proven strategy of growing reserves through an active drilling program and select acquisitions. Newfield’s principal domestic areas of operation include the Mid-Continent, the Rocky Mountains and onshore Texas.

DEAL STATS #
Overall 1 of 3
Sector (Oil/Gas Exploration) 1 of 2
Type (Merger) 1 of 1
Country (United States) 1 of 3
Year (2002) 1 of 1
Size (of disclosed) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-27 Inland Resources

Denver, Colorado, United States

Inland Resources is a privately held company based in Denver, Colorado. Inland's major asset is the 110,000-acre Monument Butte Field, located in the Uinta Basin of Northeast Utah. Inland operates the Monument Butte Field and has an average working interest of about 80%. Newfield estimates that the giant Monument Butte Field has oil in place of more than two billion barrels.

Buy $575M
Mergr

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