M&A Deal Summary

Afren Acquires Devon Energy - Cote d Ivoire Assets

On March 6, 2008, Afren acquired energy services and equipment company Devon Energy - Cote d Ivoire Assets from Devon Energy for 205M USD

Acquisition Highlights
  • This is Afren’s 1st transaction in the Energy Services and Equipment sector.
  • This is Afren’s largest (disclosed) transaction.
  • This is Afren’s 1st transaction in the United States.

M&A Deal Summary
Date 2008-03-06
Target Devon Energy - Cote d Ivoire Assets
Sector Energy Services and Equipment
Buyer(s) Afren
Sellers(s) Devon Energy
Deal Type Divestiture
Deal Value 205M USD

Target

Devon Energy - Cote d Ivoire Assets

United States
Devon Energy Corp. - Cote d'Ivoire Assets include Devon's interests in offshore producing Block CI-11, offshore undeveloped Block CI-01 and the onshore Lion gas processing plant. Devon's current net production from Cote d'Ivoire is approximately 3,000 oil-equivalent barrels per day.

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Buyer(S) 1

Buyer

Afren

London, United Kingdom
Category Company
Founded 2004
Sector Oil/Gas Exploration
Employees439
Revenue 946M USD (2014)
DESCRIPTION

Formed in 2004, Afren PLC is an international independent oil exploration and production company based in London.

DEAL STATS #
Overall 1 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-08 Black Marlin Energy Holdings

Dubai, United Arab Emirates

Black Marlin Energy Holdings Ltd. operates acquisition, exploration, and development of petroleum and natural gas properties.

Buy -

Seller(S) 1

SELLER

Devon Energy

Oklahoma City, Oklahoma, United States
Category Company
Founded 1971
Sector Oil/Gas Exploration
Employees1,800
Revenue 15.3B USD (2023)
DESCRIPTION

Devon Energy a U.S. based independent natural gas and oil producers. The company's operations are focused on North American onshore exploration and production. Devon Energy was founded in 1971 and is based in Oklahoma City.

DEAL STATS #
Overall 2 of 11
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 2 of 10
Country (United States) 2 of 8
Year (2008) 1 of 3
Size (of disclosed) 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-18 Devon Energy - Egyptian Oil and Gas Operations

United States

Devon Energy Corp. - Egyptian Oil and Gas Operations is a provider of oil and gas exploration services, the assets also includes interest in eight concessions.

Sell $375M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-08 Devon Energy - Equatorial Guinea Assets

South Africa

Devon Energy Corp. - Equatorial Guinea Assets consists of offshore oil field, located on Block B.

Sell $2.2B
Mergr

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