Divestiture • Oil/Gas Exploration

Core Natural Resources Acquires Dominion Appalachian E&P Business

On March 15, 2010, Core Natural Resources acquired oil/gas exploration company Dominion Appalachian E&P Business from Dominion Energy for 3.5B USD

Acquisition Context
  • This is Core Natural Resources’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Core Natural Resources’ largest (disclosed) transaction.
  • This is Core Natural Resources’ 2nd transaction in the United States.

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M&A Deal Summary

Date March 15, 2010
Target Dominion Appalachian E&P Business
Sector Oil/Gas Exploration
Buyer(s) Core Natural Resources
Sellers(s) Dominion Energy
Deal Type Divestiture
Deal Value 3.5B USD

Target Company

Dominion Appalachian E&P Business

United States
Dominion Appalachian E&P Business engages in exploration and production business.
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Buyer Overview 1

Buyer

Core Natural Resources

Canonsburg, Pennsylvania, United States

Category Company
Founded 1864
Sector Oil/Gas Exploration
Employees2,076
Revenue 2.1B USD (2024)
DESCRIPTION

Core Natural Resources is an integrated energy company. The Company operates through two divisions: oil and gas exploration and production (E&P), and coal mining. Core Natural Resources was founded in 1864 and is based in Canonsburg, Pennsylvania.


Deal Context for Buyer #
Overall 2 of 4
Sector: Oil/Gas Exploration 2 of 2
Type: Divestiture 1 of 1
Country: United States 2 of 4
Year: 2010 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-01 AMVEST

Charlottesville, Virginia, United States

AMVEST West Virginia Coal and Vaughan Railroad Company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-25 Epiphany Solar Water Systems

New Castle, Pennsylvania, United States

Epiphany Solar Water Systems, LLC, is a privately-held company that has invented the world's first concentrated solar powered water purification system.

Buy -

Seller Profile 1

SELLER

Dominion Energy

Richmond, Virginia, United States

Category Company
Founded 1983
Sector Utilities
Employees14,700
Revenue 14.5B USD (2024)
DESCRIPTION
Dominion's corporate headquarters in downtown Richmond, Virginia.
Dominion's corporate headquarters in downtown Richmond, Virginia.

Dominion Energy is a producer and transporter of energy, with a portfolio of approximately 25,700 megawatts of electric generation, 15,000 miles of natural gas transmission, gathering, storage, and distribution pipeline, and 6,600 miles of electric transmission and distribution lines. Dominion Energy was founded in 1983 and is based in Richmond, Virginia.


Deal Context for Seller #
Overall 3 of 12
Sector: Oil/Gas Exploration 3 of 5
Type: Divestiture 3 of 12
Country: United States 3 of 12
Year: 2010 2 of 2
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-04 Dominion Gas

Pittsburgh, Pennsylvania, United States

Dominion (Peoples) Gas Corp. engages in the production of gas.

Sell $780M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-02 Blue Racer Midstream

Tulsa, Oklahoma, United States

Blue Racer Midstream own, operate, develop and acquire midstream assets in the Utica Shale and certain adjacent areas in the Marcellus Shale. Blue Racer provides natural gas gathering, compression, dehydrating, treating, processing, fractionation, and transportation services, forming an interconnected midstream business. Blue Racer Midstream was founded in 1975 and is based in Tulsa, Oklahoma.

Buy -