M&A Deal Summary

Cequence Energy Acquires Peloton Exploration

On June 10, 2010, Cequence Energy acquired oil/gas exploration company Peloton Exploration from Azimuth Capital Management for 36M USD

Acquisition Highlights
  • This is Cequence Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Cequence Energy’s largest (disclosed) transaction.
  • This is Cequence Energy’s 1st transaction in Canada.
  • This is Cequence Energy’s 1st transaction in Alberta.

M&A Deal Summary
Date 2010-06-10
Target Peloton Exploration
Sector Oil/Gas Exploration
Buyer(s) Cequence Energy
Sellers(s) Azimuth Capital Management
Deal Type Add-on Acquisition
Deal Value 36M USD
Advisor(s) FirstEnergy Capital Corp. (Financial)

Target

Peloton Exploration

Calgary, Alberta, Canada
Peloton Exploration Corp. is an oil and gas company pursuing a balanced growth strategy in Central Alberta and the Peace River Arch.

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Buyer(S) 1

Buyer

Cequence Energy

Calgary, Alberta, Canada
Category Company
Founded 2000
Sector Oil/Gas Exploration
Revenue 62M CAD (2018)
DESCRIPTION

Cequence Energy is engaged in the exploration for and development of oil and natural gas reserves. The Company’s primary focus is the development of its Simonette asset in the Alberta Deep Basin with other non-core assets in Northeast British Columbia and the Peace River Arch of Alberta. Cequence Energy was founded in 2000 and is based in Calgary, Canada.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Azimuth Capital Management

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Azimuth Capital Management is an independent Canadian private equity firm focused on the energy sector. Azimuth makes equity investments in early stage and emerging energy companies focused on resource and infrastructure development. The Firm generally invests in Canadian companies but will consider opportunities in the US as well. Azimuth Capital Management is based in Calgary.

DEAL STATS #
Overall 6 of 14
Sector (Oil/Gas Exploration) 5 of 12
Type (Add-on Acquisition) 5 of 9
State (Alberta) 4 of 11
Country (Canada) 4 of 11
Year (2010) 2 of 2
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-08 Ausra

Palo Alto, California, United States

Ausra, Inc. is a designing, manufacturing, installing and operation of utility-scale solar thermal power systems around the world. It also provides solar thermal electric power stations and zero-carbon power plants that provide large scale low cost, reliable, renewable energy to generate electricity.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Milestone Exploration

Calgary, Alberta, Canada

Established in late 2004, Milestone is led by former executives of Anderson Exploration, Resolute Energy and Rubicon Energy. The company’s strategy is risk-managed exploration/exploitation strategy focused in Central and Southern Alberta.

Sell -
Mergr

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