M&A Deal Summary

Centennial Resource Development Acquires Silverback Exploration

On November 1, 2016, Centennial Resource Development acquired oil/gas exploration company Silverback Exploration from EnCap Investments for 855M USD

Acquisition Highlights
  • This is Centennial Resource Development’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Centennial Resource Development’s largest (disclosed) transaction.
  • This is Centennial Resource Development’s 1st transaction in the United States.
  • This is Centennial Resource Development’s 1st transaction in Texas.

M&A Deal Summary
Date 2016-11-01
Target Silverback Exploration
Sector Oil/Gas Exploration
Buyer(s) Centennial Resource Development
Sellers(s) EnCap Investments
Deal Type Add-on Acquisition
Deal Value 855M USD

Target

Silverback Exploration

San Antonio, Texas, United States
Silverback Exploration is an independent oil and gas exploration company focused on pursuing and developing primarily unconventional resource play opportunities in the United States.

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Buyer(S) 1

Buyer

Centennial Resource Development

Delaware Basin, Texas, United States
Category Company
Sector Oil/Gas Exploration
DESCRIPTION

Centennial Resource Development LLC is an exploration and production company focused on the acquisition and development of oil and liquids-rich natural gas resources in the Permian Delaware Basin, West Texas.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 Centennial Resource Development - Produced Water Assets

Delaware Basin, Texas, United States

Centennial Resource Development LLC - Produced Water Assets consist of saltwater disposal wells and associated produced water infrastructure in Reeves County.

Sell $225M

Seller(S) 1

SELLER

EnCap Investments

Houston, Texas, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1988
PE ASSETS 38.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

EnCap Investments is a private equity firm focused on the US energy sector. EnCap specifically looks for upstream and midstream opportunities within the oil and gas industry. EnCap generally partners with seasoned management when pursuing investments. EnCap Investments has offices in Dallas and Houston.

DEAL STATS #
Overall 40 of 51
Sector (Oil/Gas Exploration) 39 of 48
Type (Add-on Acquisition) 22 of 30
State (Texas) 29 of 38
Country (United States) 40 of 50
Year (2016) 2 of 3
Size (of disclosed) 11 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-01 PetroLegacy Energy II

Austin, Texas, United States

PetroLegacy Energy II is an independent oil and gas company pursuing acquisition opportunities with an initial focus on the Permian Basin. PetroLegacy Energy II is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-08 Bold Energy III

Midland, Texas, United States

Bold Energy III LLC is an independent energy company focused on the acquisition, exploitation, and development of oil and gas properties in the Greater Permian Basin of West Texas and SE New Mexico.

Sell -
Mergr

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