M&A Deal Summary

Atlas Pipeline Partners Acquires Anadarko Chaney Dell and Midkiff -Benedum Gas

On June 4, 2007, Atlas Pipeline Partners acquired oil/gas exploration company Anadarko Chaney Dell and Midkiff -Benedum Gas from Anadarko Petroleum for 1.9B USD

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

M&A Deal Summary

Date 2007-06-04
Target Anadarko Chaney Dell and Midkiff -Benedum Gas
Sector Oil/Gas Exploration
Buyer(s) Atlas Pipeline Partners
Sellers(s) Anadarko Petroleum
Deal Type Divestiture
Deal Value 1.9B USD

Target

Anadarko Chaney Dell and Midkiff -Benedum Gas

The Woodlands,, Texas, United States
Anadarko Chaney Dell and Midkiff -Benedum Gas, consists of Chaney Dell and Midkiff/Benedum natural gas gathering systems and associated processing plants.

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Buyer(S) 1

Buyer

Atlas Pipeline Partners

Pittsburgh, Pennsylvania, United States

Category Company
Founded 1999
Sector Energy Services and Equipment
Revenue 2.1B USD (2013)
DESCRIPTION

Atlas Pipeline Partners LP is engaged in gathering and processing segments of the midstream natural gas industry. In Oklahoma, southern Kansas, northern and western Texas, and Tennessee, APL owns and operates 13 active gas processing plants, 18 gas treating facilities, as well as approximately 10,600 miles of active intrastate gas gathering pipeline.


DEAL STATS #
Overall 1 of 3
Sector (Oil/Gas Exploration) 1 of 2
Type (Divestiture) 1 of 1
State (Texas) 1 of 3
Country (United States) 1 of 3
Year (2007) 1 of 1
Size (of disclosed) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-12 Cardinal Midstream

Dallas, Texas, United States

Cardinal Midstream provides oil and gas producers with a complete array of midstream services including natural gas gathering, compression, processing and treating.

Buy $600M

Seller(S) 1

SELLER

Anadarko Petroleum

The Woodlands, Texas, United States

Category Company
Founded 1959
Sector Oil/Gas Exploration
Employees5,800
Revenue 12.9B USD (2018)
DESCRIPTION
Anadarko Petroleum's corporate headquarters in The Woodlands, Texas.
Anadarko Petroleum's corporate headquarters in The Woodlands, Texas.

Anadarko Petroleum Corp. is an independent oil and natural gas exploration and production company. Anadarko Petroleum was formed in 1959 and is based in The Woodlands, Texas.


DEAL STATS #
Overall 5 of 10
Sector (Oil/Gas Exploration) 5 of 9
Type (Divestiture) 5 of 9
State (Texas) 1 of 3
Country (United States) 4 of 7
Year (2007) 4 of 4
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-21 Anadarko Petroleum - Africa Assets

South Africa

Anadarko Petroleum Corp. - Africa Assets are Algeria: 24.5% participating interest and operatorship of blocks 404a and 208 (Hassi Berkine, Ourhoud, and El Merk fields) in the Berkine basin in which Total already owns 12.25%. These fields represented a gross production of 320 kboe/d in 2018. Ghana: 27% participating interest in the Jubilee field and 19% participating interest in the TEN fields. These fields represented a gross production of 143 kb/d in 2018. Mozambique: 26.5% participating interest and operatorship in Area 1 where a 12.8 million tonne per year LNG project is largely derisked and close to sanction. Area 1 contains more than 60 Tcf of gas resources, of which 18 Tcf will be developed with the first two train project which is expected to come into production by 2024. South Africa: exploration licences, close to Total’s recent Brulpadda discovery.

Sell $350M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 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 -