M&A Deal Summary

Spectra Energy Acquires Westcoast Energy

On January 1, 2007, Spectra Energy acquired oil/gas exploration company Westcoast Energy from Duke Energy

Acquisition Highlights
  • This is Spectra Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Spectra Energy’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2007-01-01
Target Westcoast Energy
Sector Oil/Gas Exploration
Buyer(s) Spectra Energy
Sellers(s) Duke Energy
Deal Type Divestiture

Target

Westcoast Energy

Vancouver, United Kingdom
Westcoast Energy Inc. is a major Canadian corporation and a leader in the North American natural gas industry with interests in gas pipelines, processing, storage, distribution, power generation and gas services businesses. The company has assets of approximately $8 billion.

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Buyer(S) 1

Buyer

Spectra Energy

Houston, Texas, United States
Category Company
Founded 2006
Sector Energy Services and Equipment
Employees6,000
Revenue 5.2B USD (2015)
DESCRIPTION
Entrance to Spectra Energy's corporate headquarters in Houston, Texas.
Entrance to Spectra Energy's corporate headquarters in Houston, Texas.

Spectra Energy Corp. is a pipeline and midstream gas company. Spectra Energy’s operations in the United States and Canada include more than 22,000 miles of natural gas, natural gas liquids, and crude oil pipelines; approximately 305 billion cubic feet (Bcf) of natural gas storage; 4.8 million barrels of crude oil storage; as well as natural gas gathering, processing, and local distribution operations. Spectra Energy was formed in 2006 and is based in Houston, Texas.

DEAL STATS #
Overall 1 of 4
Sector (Oil/Gas Exploration) 1 of 2
Type (Divestiture) 1 of 2
Country (United Kingdom) 1 of 1
Year (2007) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-16 Port Barre Investments

Houston, Texas, United States

Port Barre Investments LLC is a provider of firm and interruptible gas storage services.

Buy $540M

Seller(S) 1

SELLER

Duke Energy

Charlotte, North Carolina, United States
Category Company
Founded 1904
Sector Energy Services and Equipment
Employees27,859
Revenue 29.1B USD (2023)
DESCRIPTION

Duke Energy is an electric power holding companies in the United States. Its regulated utility operations serve approximately 4 million customers located in five states in the Southeast and Midwest, representing a population of approximately 11 million people. Its commercial power and international business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States. Duke Energy was incorporated in 1904 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 3 of 9
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 2 of 6
Country (United Kingdom) 1 of 1
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-29 Spectra Energy

Houston, Texas, United States

Spectra Energy Corp. is a pipeline and midstream gas company. Spectra Energy’s operations in the United States and Canada include more than 22,000 miles of natural gas, natural gas liquids, and crude oil pipelines; approximately 305 billion cubic feet (Bcf) of natural gas storage; 4.8 million barrels of crude oil storage; as well as natural gas gathering, processing, and local distribution operations. Spectra Energy was formed in 2006 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-29 Tierra Energy - Wind Power Development Business

Austin, Texas, United States

Tierra Energy LLC's wind power development business includes more than 1,000 megawatts of wind assets under development in the Western and Southwestern United States.

Buy -
Mergr

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