M&A Deal Summary

Cardinal Gas Storage Partners Acquires Monroe Gas Storage Company

On May 31, 2011, Cardinal Gas Storage Partners acquired oil/gas exploration company Monroe Gas Storage Company for 148M USD

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

M&A Deal Summary

Date 2011-05-31
Target Monroe Gas Storage Company
Sector Oil/Gas Exploration
Buyer(s) Cardinal Gas Storage Partners
Deal Type Add-on Acquisition
Deal Value 148M USD

Target

Monroe Gas Storage Company

Amory, Mississippi, United States
Monroe Gas Storage Company LLC is a high-deliverability natural gas storage reservoir facility located in northeast Mississippi.

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Buyer(S) 1

Buyer

Cardinal Gas Storage Partners

Houston, Texas, United States

Category Company
Founded 2008
Sector Energy Services and Equipment
DESCRIPTION

Cardinal Gas Storage Partners LLC focuses on the operation and management of natural gas storage facilities in the Gulf Coast region. Cardinal Gas believes that the natural gas storage business plays a fundamental role in supporting the nation's growing natural gas supply and demand. Cardinal's storage facilities are positioned in strategic locations for customers which will continue to enhance the value of Cardinal's assets and increase demand for our gas storage capacity. Cardinal currently operates both salt cavern and depleted reservoir gas storage facilities. Arcadia Gas Storage, LLC, Cadeville Gas Storage LLC, Monroe Gas Storage Company, LLC and Perryville Gas Storage LLC


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Mississippi) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 1