M&A Deal Summary

Access Midstream Partners Acquires Chesapeake Midstream Operating

On December 11, 2012, Access Midstream Partners acquired oil/gas exploration company Chesapeake Midstream Operating from Chesapeake Energy for 2.2B USD

Acquisition Highlights
  • This is Access Midstream Partners’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Access Midstream Partners’ largest (disclosed) transaction.
  • This is Access Midstream Partners’ 1st transaction in the United States.
  • This is Access Midstream Partners’ 1st transaction in Oklahoma.

M&A Deal Summary

Date 2012-12-11
Target Chesapeake Midstream Operating
Sector Oil/Gas Exploration
Buyer(s) Access Midstream Partners
Sellers(s) Chesapeake Energy
Deal Type Divestiture
Deal Value 2.2B USD

Target

Chesapeake Midstream Operating

Oklahoma City, Oklahoma, United States
Chesapeake Midstream Operating, L.L.C. consists of natural gas gathering and processing assets in the Eagle Ford, Utica and Niobrara liquids-rich plays.

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Buyer(S) 1

Buyer

Access Midstream Partners

Oklahoma City, Oklahoma, United States

Category Company
Sector Oil/Gas Exploration
DESCRIPTION

Access Midstream Partners is a natural gas services provider with operations focused on owning, operating, developing and acquiring midstream energy assets in the United States.


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Oklahoma) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Chesapeake Energy

Oklahoma City, Oklahoma, United States

Category Company
Founded 1989
Sector Oil/Gas Exploration
Employees1,000
Revenue 7.8B USD (2023)
DESCRIPTION

Chesapeake Energy produces natural gas and is a major producer of oil and natural gas liquids in the U.S., with an industry-leading portfolio of high-quality unconventional assets in top onshore plays. Chesapeake Energy was incorporated in 1989 and is based in Oklahoma City.


DEAL STATS #
Overall 3 of 9
Sector (Oil/Gas Exploration) 3 of 6
Type (Divestiture) 3 of 8
State (Oklahoma) 2 of 4
Country (United States) 3 of 9
Year (2012) 2 of 2
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-12 Delaware Basin Acreage

New Mexico, United States

Delaware Basin Acreage contains several oil and wet gas plays stacked together within several thousand feet of hydrocarbon-bearing rock.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-03 Chesapeake Marcellus Acreage and Wells

Pennsylvania, United States

Chesapeake Marcellus Acreage and Wells comprises roughly 99,000 net acres in southwestern Pennsylvania and 10 horizontal Marcellus wells.

Sell $113M