M&A Deal Summary

Chevron Acquires Bridgeline

On August 2, 2005, Chevron acquired energy services and equipment company Bridgeline from Targa Resources

Acquisition Highlights
  • This is Chevron’s 1st transaction in the Energy Services and Equipment sector.
  • This is Chevron’s 3rd transaction in the United States.
  • This is Chevron’s 1st transaction in Louisiana.

M&A Deal Summary
Date 2005-08-02
Target Bridgeline
Sector Energy Services and Equipment
Buyer(s) Chevron
Sellers(s) Targa Resources
Deal Type Divestiture

Target

Bridgeline

New Orleans, Louisiana, United States
Bridgeline LLC is an owns and operator of over 1,000 miles of intrastate natural gas pipelines and two fully integrated storage facilities with 12.7 Bcf of working gas capacity.

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Buyer(S) 1

Buyer

Chevron

San Ramon, California, United States
Category Company
Founded 1879
Sector Oil/Gas Exploration
Employees45,600
Revenue 196.9B USD (2023)
DESCRIPTION
Chevron office in downtown Houston, Texas.
Chevron office in downtown Houston, Texas.

Chevron is a fully integrated energy company. Its business includes petroleum operations, chemicals, mining operations, power generation and energy services. Chevron's exploration and production operations consists of exploration, development and production of crude oil and natural gas. Chevron was incorporated in 1879 and is based in San Ramon, California.

DEAL STATS #
Overall 3 of 19
Sector (Energy Services and Equipment) 1 of 3
Type (Divestiture) 1 of 4
State (Louisiana) 1 of 1
Country (United States) 3 of 16
Year (2005) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-11 ChevronTexaco Worldwide Gasification Technology

Houston, Texas, United States

ChevronTexaco Worldwide Gasification Technology, engages in producing and transporting crude oil and natural gas, and marketing and distributing fuels and other energy products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-10 Unocal

El Segundo, California, United States

Unocal Corp. a petroleum explorer and marketer headquartered in El Segundo, California.

Buy $17.9B

Seller(S) 1

SELLER

Targa Resources

Houston, Texas, United States
Category Company
Founded 2005
Sector Energy Services and Equipment
Employees3,182
Revenue 16.1B USD (2023)
DESCRIPTION

Targa Resources is an independent midstream energy companies in the U.S., providing gas gathering, processing, fractionation and transportation through an extensive portfolio of integrated midstream assets. Targa Resources was founded in 2005 and is based in Houston, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 1 of 1
Year (2005) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-02 Dynegy - Midstream Natural Gas Business

Houston, Texas, United States

Dynegy, Inc. - Midstream Natural Gas Business include approximately 9,300 miles of natural gas gathering pipeline systems and 11 operated gas plants.

Buy $2.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-30 Venice Energy Services

Venice, Louisiana, United States

Venice Energy Services Co. LLC is consists of two cryogenic trains with a total processing capacity of 750 MMcf/d and a FERC regulated pipeline (the "Venice Gathering System") that gathers gas from the outer continental shelf of the Gulf of Mexico.

Buy -
Mergr

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