M&A Deal Summary

Chord Energy Acquires Forge Energy

On December 11, 2017, Chord Energy acquired oil/gas exploration company Forge Energy from EnCap Investments, Pine Brook Partners and Burlington Resources for 946M USD

Acquisition Highlights
  • This is Chord Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Chord Energy’s largest (disclosed) transaction.
  • This is Chord Energy’s 1st transaction in the United States.
  • This is Chord Energy’s 1st transaction in Texas.

M&A Deal Summary

Date 2017-12-11
Target Forge Energy
Sector Oil/Gas Exploration
Buyer(s) Chord Energy
Sellers(s) EnCap Investments
Pine Brook Partners
Burlington Resources
Deal Type Add-on Acquisition
Deal Value 946M USD

Target

Forge Energy

San Antonio, Texas, United States
Forge Energy is an oil and gas exploration and production company. Forge focuses on developing domestic onshore oil and gas resources, both conventional and unconventional.

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Buyer(S) 1

Buyer

Chord Energy

Houston, Texas, United States

Category Company
Founded 2007
Sector Oil/Gas Exploration
Employees514
Revenue 3.9B USD (2023)
DESCRIPTION
Oasis Petroleum's corporate headquarters in downtown Houston, Texas.
Oasis Petroleum's corporate headquarters in downtown Houston, Texas.

Chord Energy is an independent oil and gas company focused on the acquisition and development of unconventional oil and natural gas resources. Chord Energy was formed in 2007 and is based in Houston, Texas.


DEAL STATS #
Overall 1 of 3
Sector (Oil/Gas Exploration) 1 of 3
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 2
Country (United States) 1 of 3
Year (2017) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-08 Bobcat DevCo

United States

Bobcat DevCo LLC focused in the Wild Basin operating area and include gas gathering, compression and gas lift, crude oil gathering and produced water gathering and disposal. Bobcat DevCo is a particularly strategic midstream asset, as it has been a key contributor to the early success of connecting third-party volumes to OMP's gas plants.

Sell $125M

Seller(S) 3

SELLER

EnCap Investments

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1988
PE ASSETS 38.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

EnCap Investments is a private equity firm focused on the US energy sector. EnCap specifically looks for upstream and midstream opportunities within the oil and gas industry. EnCap generally partners with seasoned management when pursuing investments. EnCap Investments has offices in Dallas and Houston.


DEAL STATS #
Overall 43 of 51
Sector (Oil/Gas Exploration) 42 of 48
Type (Add-on Acquisition) 24 of 30
State (Texas) 32 of 38
Country (United States) 43 of 50
Year (2017) 2 of 2
Size (of disclosed) 9 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-10 Silverback Exploration II

San Antonio, Texas, United States

Silverback Exploration II is an independent oil and gas exploration company. Silverback II was formed to pursue organic development projects and strategic acquisitions in conventional and unconventional resource plays across the U.S. Silverback Exploration II is based in San Antonio, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Forge Energy II

San Antonio, Texas, United States

Forge Energy II is an exploration and production company focused on the acquisition and development of horizontal resource plays in the Lower 48. Forge Energy II is based in San Antonio, Texas.

Buy -
SELLER

Pine Brook Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Pine Brook Road Partners is a private equity group focused on growth capital investments in the energy and financial services sectors. Specific areas of interest within the energy sector include exploration, oilfield services, transportation/storage, power generation/distribution/transmission, and biofuel/renewable resources. Specific areas of interest within financial services include insurance, banks, asset management, specialty finance, and servicing/distribution/origination. Pine Brook generally acts as the lead/control investor in newly-formed or established businesses. The Firm has a special interest in 'underappreciated or overlooked' opportunities. Pine Brook Road Partners was formed in 2006 and is based in New York City.


DEAL STATS #
Overall 12 of 25
Sector (Oil/Gas Exploration) 5 of 9
Type (Add-on Acquisition) 6 of 11
State (Texas) 8 of 13
Country (United States) 9 of 19
Year (2017) 3 of 3
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-01 Cadence Business Finance

Houston, Texas, United States

Cadence Business Finance provides customized solutions to specialty finance companies. Flexible covenant structures in industries such as equipment financing, insurance premium financing, specialty asset-based lending and factoring, as well as merchant cash advance, foster the long-term success of asset-based lenders, and that of their clients.

Sell $198M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-15 ATX Energy Partners

Austin, Texas, United States

ATX Energy Partners is an exploration and production company focused on the acquisition and development of acreage positions in unconventional domestic oil and liquids resource plays. ATX Energy Partners was founded in 2017 and is based in Austin, Texas.

Buy -
SELLER

Burlington Resources

Houston, Texas, United States

Category Company
Founded 1988
Sector Oil/Gas Exploration
DESCRIPTION

Burlington Resources was an oil/gas exploration company spun off of Burlington Northern Railroad in 1988.


DEAL STATS #
Overall 3 of 3
Sector (Oil/Gas Exploration) 2 of 2
Type (Add-on Acquisition) 1 of 1
State (Texas) 2 of 2
Country (United States) 3 of 3
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 Forge Energy

San Antonio, Texas, United States

Forge Energy is an oil and gas exploration and production company. Forge focuses on developing domestic onshore oil and gas resources, both conventional and unconventional.

Buy -