M&A Deal Summary

Chevron Acquires Delaware Basin Acreage

On September 12, 2012, Chevron acquired oil/gas exploration company Delaware Basin Acreage from Chesapeake Energy

Acquisition Highlights
  • This is Chevron’s 7th transaction in the Oil/Gas Exploration sector.
  • This is Chevron’s 8th transaction in the United States.
  • This is Chevron’s 1st transaction in New Mexico.

M&A Deal Summary
Date 2012-09-12
Target Delaware Basin Acreage
Sector Oil/Gas Exploration
Buyer(s) Chevron
Sellers(s) Chesapeake Energy
Deal Type Divestiture

Target

Delaware Basin Acreage

New Mexico, United States
Delaware Basin Acreage contains several oil and wet gas plays stacked together within several thousand feet of hydrocarbon-bearing rock.

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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 10 of 19
Sector (Oil/Gas Exploration) 7 of 13
Type (Divestiture) 3 of 4
State (New Mexico) 1 of 1
Country (United States) 8 of 16
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-19 Rovi and Sarta Blocks in Kurdistan

Iraq

Rovi and Sarta Blocks in Kurdistan comprises two oil and gas blocks, Rovi and Sarta spread over an area of 490 square miles.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 Chevron - Fuels Marketing & Aviation Businesses

Dominican Republic

Chevron Fuels Marketing & Aviation Businesses, which include 174 service stations, refinery fuel terminal and aviation facility and a commercial and industrial fuels business. The assets are located in Jamaica, Dominica Republic, and St. Maarten.

Sell -

Seller(S) 1

SELLER

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 2 of 9
Sector (Oil/Gas Exploration) 2 of 6
Type (Divestiture) 2 of 8
State (New Mexico) 1 of 1
Country (United States) 2 of 9
Year (2012) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-15 Bronco Drilling

El Reno, Oklahoma, United States

Bronco Drilling Company, Inc,is a provider of contract land drilling to oil and natural gas exploration and production companies.

Buy $315M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-11 Chesapeake Midstream Operating

Oklahoma City, Oklahoma, United States

Chesapeake Midstream Operating, L.L.C. consists of natural gas gathering and processing assets in the Eagle Ford, Utica and Niobrara liquids-rich plays.

Sell $2.2B
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