M&A Deal Summary

Chesapeake Energy Acquires Triana Energy

On January 2, 2006, Chesapeake Energy acquired oil/gas exploration company Triana Energy from GCP Capital Partners and Metalmark Capital

Acquisition Highlights
  • This is Chesapeake Energy’s 6th transaction in the Oil/Gas Exploration sector.
  • This is Chesapeake Energy’s 6th transaction in the United States.
  • This is Chesapeake Energy’s 2nd transaction in West Virginia.

M&A Deal Summary
Date 2006-01-02
Target Triana Energy
Sector Oil/Gas Exploration
Buyer(s) Chesapeake Energy
Sellers(s) GCP Capital Partners
Metalmark Capital
Deal Type Add-on Acquisition

Target

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.

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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 6 of 12
Sector (Oil/Gas Exploration) 6 of 11
Type (Add-on Acquisition) 6 of 11
State (West Virginia) 2 of 2
Country (United States) 6 of 12
Year (2006) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-16 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.

Buy $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-01 Empresa Energy I

Houston, Texas, United States

Empresa Energy I is a independent oil and gas acquisition and development company focused on acquiring and exploiting properties in various unconventional resource plays.

Buy -

Seller(S) 2

SELLER

GCP Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Merchant Bank
Founded 2000
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GCP Capital Partners consists of GCP US, GCP Europe, and GCP Venture. GCP US targets North American acquisitions. The unit looks to invest $10 to $50 million in businesses valued up to $500 million. GCP Europe targets businesses in the UK and Europe. The European team looks to invest up to £40 million in companies valued up to £100 million. Sectors of interest include business services, education, energy, financial services, insurance and telecommunications.

DEAL STATS #
Overall 3 of 24
Sector (Oil/Gas Exploration) 1 of 5
Type (Add-on Acquisition) 1 of 10
State (West Virginia) 1 of 1
Country (United States) 3 of 22
Year (2006) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-14 Validus Re

Pembroke, Bermuda

Validus Re is a provider of reinsurance and insurance, conducting its operations worldwide through two wholly-owned subsidiaries, Validus Reinsurance, Ltd. and Talbot Holdings Ltd. The company is a Bermuda-based reinsurer focused on short-tail lines of reinsurance. Talbot is the Bermuda parent of the specialty insurance group primarily operating within the Lloyd's insurance market through Syndicate 1183. Validus Re was founded in 2005 and is based in Pembroke.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-03 Energy Transfer Partners

Dallas, Texas, United States

Energy Transfer Partners LP is an owns and operates approximately 71,000 miles of natural gas, natural gas liquids, refined products, and crude oil pipelines. Energy Transfer Partners was formed in 1995 and is based in Dallas, Texas.

Sell -
SELLER

Metalmark Capital

New York, New York, United States
Category Private Equity Firm
Founded 2004
PE ASSETS 8.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Metalmark Capital is an independent private equity group focused on large company transactions in a wide range of industries. Metalmark is a hands-on investment firm looking to build long-term value in its portfolio companies. Broad areas of interest include natural resources/energy, healthcare services, industrials, food, transportation, and financial services. Metalmark was established in 2004 by the former principals of Morgan Stanley Capital Partners to manage the Metalmark Capital and Morgan Stanley Capital Partners funds. Metalmark is based in New York City.

DEAL STATS #
Overall 19 of 40
Sector (Oil/Gas Exploration) 5 of 8
Type (Add-on Acquisition) 9 of 20
State (West Virginia) 1 of 1
Country (United States) 18 of 37
Year (2006) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Aqua Capital Management

Omaha, Nebraska, United States

Aqua Capital Management owns and manages a portfolio of water right assets throughout the western United States. Aqua Capital Management is based in Omaha, Nebraska.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-01 MeriCap Credit

Oak Brook, Illinois, United States

MeriCap Credit is a specialty finance company that provides loans and leases to small businesses for the purpose of financing their purchases of small-ticket commercial vehicles and construction and industrial equipment. MeriCap Credit was founded in 2005 and is based in Oak Brook, Illinois.

Buy -
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