M&A Deal Summary

CNOOC Acquires OPTI Canada

On November 28, 2011, CNOOC acquired oil/gas exploration company OPTI Canada for 2.1B USD

Acquisition Highlights
  • This is CNOOC’s 4th transaction in the Oil/Gas Exploration sector.
  • This is CNOOC’s 2nd largest (disclosed) transaction.
  • This is CNOOC’s 1st transaction in Canada.
  • This is CNOOC’s 1st transaction in Alberta.

M&A Deal Summary
Date 2011-11-28
Target OPTI Canada
Sector Oil/Gas Exploration
Buyer(s) CNOOC
Deal Type Add-on Acquisition
Deal Value 2.1B USD

Target

OPTI Canada

Calgary, Alberta, Canada
OPTI Canada Inc. an oil sand operator, develops integrated bitumen and heavy oil projects in Canada.

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Buyer(S) 1

Buyer

CNOOC

Hong Kong, China
Category Company
Founded 1999
Sector Oil/Gas Exploration
Employees21,786
Revenue 432.2B CNY (2022)
DESCRIPTION

CNOOC is a producer of offshore crude oil and natural gas in China and one of the independent oil and gas exploration and production companies in the world. The Group mainly engages in exploration, development, production and sale of oil and natural gas. CNOOC was founded in 1999 and is based in Hong Kong, China.

DEAL STATS #
Overall 4 of 6
Sector (Oil/Gas Exploration) 4 of 6
Type (Add-on Acquisition) 1 of 2
State (Alberta) 1 of 2
Country (Canada) 1 of 2
Year (2011) 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-18 Block 15/34

China

Block 15/34 comprises oil exploration and production property. Currently gross production from the block is 49,000 barrels of oil per day.

Buy $515M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-23 Nexen Energy ULC

Calgary, Alberta, Canada

Nexenis an upstream oil and gas company responsibly developing energy resources in the UK North Sea, offshore West Africa, the United States and Western Canada.Nexen has three principal businesses: conventional oil and gas, oil sands and shale gas / oil.

Buy $15.1B
Mergr

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