M&A Deal Summary

Chesapeake Energy Acquires Columbia Natural Resources

On October 16, 2005, Chesapeake Energy acquired oil/gas exploration company Columbia Natural Resources from First Reserve for 2.2B USD

Acquisition Highlights
  • This is Chesapeake Energy’s 5th transaction in the Oil/Gas Exploration sector.
  • This is Chesapeake Energy’s 4th largest (disclosed) transaction.
  • This is Chesapeake Energy’s 5th transaction in the United States.
  • This is Chesapeake Energy’s 1st transaction in West Virginia.

M&A Deal Summary

Date 2005-10-16
Target Columbia Natural Resources
Sector Oil/Gas Exploration
Buyer(s) Chesapeake Energy
Sellers(s) First Reserve
Deal Type Add-on Acquisition
Deal Value 2.2B USD

Target

Columbia Natural Resources

Charleston, West Virginia, United States
Columbia Natural Resources is engaged primarily in the exploration and production of natural gas in the Appalachian Basin. Columbia is the second largest independent natural gas producer in the Appalachian Basin and the 25th largest in the U.S. Columbia owns oil and natural gas properties in West Virginia, Kentucky, Virginia, Tennessee, New York, Ohio, Pennsylvania, Michigan and Maryland.

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Buyer(S) 1

Buyer

Chesapeake Energy

Oklahoma City, Oklahoma, United States

Category Company
Founded 1989
Sector Oil/Gas Exploration
Employees1,000
Revenue 7.8B USD (2023)
DESCRIPTION

Chesapeake Energy produces natural gas and is a major producer of oil and natural gas liquids in the U.S., with an industry-leading portfolio of high-quality unconventional assets in top onshore plays. Chesapeake Energy was incorporated in 1989 and is based in Oklahoma City.


DEAL STATS #
Overall 5 of 12
Sector (Oil/Gas Exploration) 5 of 11
Type (Add-on Acquisition) 5 of 11
State (West Virginia) 1 of 2
Country (United States) 5 of 12
Year (2005) 2 of 2
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-01 Laredo Energy II

Houston, Texas, United States

Laredo Energy II is a independent oil and gas acquisition and development company with operations in the Lobo Trend in South Texas.

Buy $369M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-02 Triana Energy

Charleston, West Virginia, United States

Triana Energy, LLC is an oil and gas exploration and production company. The Company was focused primarily in the Appalachian Basin.

Buy -

Seller(S) 1

SELLER

First Reserve

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 32.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

First Reserve is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 10 of 58
Sector (Oil/Gas Exploration) 4 of 16
Type (Add-on Acquisition) 5 of 20
State (West Virginia) 1 of 1
Country (United States) 7 of 38
Year (2005) 3 of 5
Size (of disclosed) 3 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-01 New World Resources

Amsterdam, Netherlands

New World Resources Plc ('NWR' or the 'Company') is one of Central Europe's leading hard coal and coke producers. The Company produces quality coking and thermal coal for the steel and energy sectors in Central Europe through its subsidiary OKD, a.s. ('OKD'), the largest hard coal mining company in the Czech Republic. NWR's coke subsidiary, OKK Koksovny, a.s. ('OKK') is Europe's largest producer of foundry coke.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-17 Chart Industries

Ball Ground, Georgia, United States

Chart Industries is a provider of cryogenic equipment used in industrial gas, hydrocarbon, and medical applications. Chart Industries was incorporated in 1859 and is headquartered in Ball Ground, Georgia.

Buy $460M