M&A Deal Summary |
|
|---|---|
| Date | 2023-12-11 |
| Target | CrownRock |
| Sector | Oil/Gas Exploration |
| Buyer(s) | Occidental Petroleum |
| Sellers(s) |
Lime Rock Partners
EIG Global Energy Partners |
| Deal Type | Add-on Acquisition |
| Deal Value | 12.0B USD |
| Advisor(s) | Goldman Sachs Perella Weinberg Partners (Financial) Vinson & Elkins (Legal) |
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| Category | Company |
|---|---|
| Founded | 1920 |
| Sector | Oil/Gas Exploration |
| Employees | 11,800 |
| Revenue | 36.6B USD (2022) |
Occidental Petroleum is an oil and gas exploration and production company. Occidental is an industry provider in applying advanced technology to boost production and access hard-to-recover reserves. Occidental Petroleum was founded in 1920 and is based in Houston, Texas.
| DEAL STATS | # |
|---|---|
| Overall | 9 of 9 |
| Sector (Oil/Gas Exploration) | 5 of 5 |
| Type (Add-on Acquisition) | 6 of 6 |
| State (Texas) | 4 of 4 |
| Country (United States) | 7 of 7 |
| Year (2023) | 2 of 2 |
| Size (of disclosed) | 2 of 8 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-08-15 |
Carbon Engineering
Vancouver, British Columbia, Canada Carbon Engineering (CE) is a climate solutions company that is focused on the global deployment of large-scale Direct Air Capture (DAC) technology that captures carbon dioxide out of the atmosphere so it can be permanently stored deep underground or used to produce clean, affordable transportation fuels. With its partners, CE is working to deploy large-scale, commercial DAC facilities in multiple markets around the globe. Carbon Engineering is based in Vancouver, British Columbia. |
Buy | $1.1B |
| Category | Private Equity Firm |
|---|---|
| Founded | 1998 |
| PE ASSETS | 8.9B USD |
| Size | Mega |
| Type | Sector Focused |
Lime Rock Partners is a private investment firm focused on growth capital investments in the energy industry. Specifically, Lime Rock looks for companies engaged in exploration & production, energy service, and oil service technology in North America and Europe. Lime Rock's target investment size is $50 to $150 million in businesses valued up to $500 million. Lime Rock Partners was formed in 1998 and is affiliated with Lime Rock Resources. Lime Rock Partners has offices in Westport, Connecticut; Aberdeen, Scotland; and Houston, Texas.
| DEAL STATS | # |
|---|---|
| Overall | 56 of 57 |
| Sector (Oil/Gas Exploration) | 20 of 20 |
| Type (Add-on Acquisition) | 23 of 24 |
| State (Texas) | 14 of 14 |
| Country (United States) | 27 of 27 |
| Year (2023) | 2 of 3 |
| Size (of disclosed) | 1 of 15 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-02-06 |
Cor4 Oil
Calgary, Alberta, Canada Cor4 Oil is an E&P company developing conventional oil assets. The company is focused on maximizing the value of its assets through technical and operational improvements. Cor4 Oil is based in Calgary, Alberta. |
Sell | $62M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-12-21 |
Silixa
Hertfordshire, United Kingdom Silixa is an independent provider of distributed fiber optic sensing solutions, offering an unrivalled technical portfolio of end-to-end solutions that enable temperature, strain and acoustic measurements at the highest fidelity in even the most hostile settings. Silixa is based in Hertfordshire, United Kingdom. |
Sell | $22M |
| Category | Asset Manager |
|---|---|
| Founded | 1982 |
| PE ASSETS | 39.0B USD |
| Size | Mega |
| Type | Sector Focused |
EIG Global Energy Partners specializes in private investments in energy and energy-related infrastructure around the world. Specific areas of interest include upstream oil and gas, midstream, power generation, renewables, and related infrastructure. EIG manages a variety of funds that provide hybrid debt and structured equity financing solutions to energy projects and companies. The Firm also offers credit/direct lending vehicles that target higher credit quality project finance instruments. EIG Global Energy Partners is headquartered in Washington DC.
| DEAL STATS | # |
|---|---|
| Overall | 9 of 10 |
| Sector (Oil/Gas Exploration) | 6 of 6 |
| Type (Add-on Acquisition) | 4 of 5 |
| State (Texas) | 5 of 6 |
| Country (United States) | 7 of 8 |
| Year (2023) | 1 of 1 |
| Size (of disclosed) | 1 of 5 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2022-05-20 |
ELC
Savannah, Georgia, United States ELC is an LNG liquefaction facility located near Savannah, Georgia. ELC began full commercial operations in August 2020 and is comprised of 10 Movable Modular Liquefaction Units with a nameplate capacity of approximately 2.5 million tons per annum of liquefied natural gas (LNG) for export, which is equivalent to approximately 350 million cubic feet (MMcf) per day of natural gas. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-12-28 |
Ocyan
Rio de Janeiro, Brazil Ocyan is a solutions provider of maintenance solutions to the offshore oil and gas sector, including the operation of subsea construction and decommissioning projects. The company currently operates four offshore units through a 50/50 joint venture with Altera Infrastructure, holding long-term contracts with Libra Consortium, Karoon Energy, and 3R Petroleum. It is focused on the digitalization of the oil and gas industry and engineering, procurement, and construction (“EPC”) contracts for renewable energy projects. Ocyan is based in Rio de Janeiro, Brazil. |
Buy | $390M |
