M&A Deal Summary

Plains Exploration & Production Acquires Laramie Energy

On April 18, 2007, Plains Exploration & Production acquired oil/gas exploration company Laramie Energy from EnCap Investments and aPriori Capital Partners for 1.0B USD

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

M&A Deal Summary
Date 2007-04-18
Target Laramie Energy
Sector Oil/Gas Exploration
Buyer(s) Plains Exploration & Production
Sellers(s) EnCap Investments
aPriori Capital Partners
Deal Type Add-on Acquisition
Deal Value 1.0B USD

Target

Laramie Energy

Denver, Colorado, United States
website
Laramie Energy LLC is engaged in the exploitation and production of unconventional natural gas reserves in domestic onshore markets.

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Buyer(S) 1

Buyer

Plains Exploration & Production

Houston, Texas, United States

website

Category Company
Founded 2002
Sector Oil/Gas Exploration
Employees900
DESCRIPTION

Plains Exploration & Production Company provides U.S.-based oil and gas assets.

DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 2
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-29 The Lucius oil field

United States

Lucius will produce oil and gas through a truss spar floating production facility. The spar will be 605ft long and 110ft in diameter. It will be installed in 7,100ft of water. It will have a nameplate capacity of 80,000 barrels of oil a day (BOPD) and 450 million cubic feet of gas a day (mcf/d). The hull will weigh approximately 23,000t. The topsides will have an initial payload of 15,000t.

Buy -

Seller(S) 2

SELLER

EnCap Investments

Houston, Texas, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1988
PE ASSETS 38.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

EnCap Investments is a private equity firm focused on the US energy sector. EnCap specifically looks for upstream and midstream opportunities within the oil and gas industry. EnCap generally partners with seasoned management when pursuing investments. EnCap Investments has offices in Dallas and Houston.

DEAL STATS #
Overall 9 of 50
Sector (Oil/Gas Exploration) 9 of 47
Type (Add-on Acquisition) 7 of 29
State (Colorado) 2 of 7
Country (United States) 9 of 49
Year (2007) 3 of 5
Size (of disclosed) 7 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-01 Grenadier Energy Partners

Woodlands, Texas, United States

Grenadier Energy Partners LLC is an upstream exploration and production company in the energy sector.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-01 Legado Resources

The Woodlands, Texas, United States

Legado Resources, L.L.C. is a oil and gas company focused on acquiring and developing secondary and tertiary oil recovery projects throughout the United States.

Buy -
SELLER

aPriori Capital Partners

Investor Investor Investor

website

Category Private Equity Firm
Founded 1985
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

aPriori Capital Partners (formerly DLJ Merchant Banking Partners) is a middle-market private equity firm focused on middle-market buyouts in the US and Europe. Sectors of interest include healthcare, retail, consumer, energy, business services, and industrial. aPriori was originally established in 1985 and has offices in New York and Los Angeles.

DEAL STATS #
Overall 23 of 51
Sector (Oil/Gas Exploration) 3 of 6
Type (Add-on Acquisition) 10 of 22
State (Colorado) 2 of 4
Country (United States) 19 of 38
Year (2007) 4 of 4
Size (of disclosed) 12 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-29 Advanstar Communications

Santa Monica, California, United States

Advanstar Communications Inc. is a media company providing integrated marketing solutions for the Fashion, Life Sciences and Powersports industries. Advanstar serves business professionals and consumers in these industries with its portfolio of 87 events, 58 publications and directories, 125 electronic publications and Web sites, as well as educational and direct marketing products and services.

Sell $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-01 Laramie Energy II

Denver, Colorado, United States

Laramie Energy II is focused on developing unconventional oil and natural gas reserves in the Piceance Basin in Western Colorado. Laramie Energy II was founded in 2007 and is based in Denver, Colorado.

Buy $300M
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