M&A Deal Summary

CorEnergy Acquires Crimson Midstream

On February 4, 2021, CorEnergy acquired oil/gas exploration company Crimson Midstream for 350M USD

Acquisition Highlights
  • This is CorEnergy’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is CorEnergy’s largest (disclosed) transaction.
  • This is CorEnergy’s 3rd transaction in the United States.
  • This is CorEnergy’s 1st transaction in California.

M&A Deal Summary
Date 2021-02-04
Target Crimson Midstream
Sector Oil/Gas Exploration
Buyer(s) CorEnergy
Deal Type Add-on Acquisition
Deal Value 350M USD

Target

Crimson Midstream

Signal Hill, California, United States
Crimson Midstream LLC is ac rude oil pipeline owner and operator that provides crude oil transportation and storage services. Crimson safely and reliably operates more than 2,000 miles of pipeline transporting approximately 400,000 barrels of crude oil per day to end-users. Crimson Midstream was founded in 2005 and is based in Signal Hill, California.

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Buyer(S) 1

Buyer

CorEnergy

Kansas City, Missouri, United States
Category Company
Sector Real Estate
Employees155
Revenue 128M USD (2021)
DESCRIPTION

CorEnergy is a REIT focused on energy infrastructure primarily owns midstream and downstream assets that perform utility-like functions, such as pipelines, storage terminals, and transmission and distribution assets. CorEnergy is based in Kansas City, Missouri.

DEAL STATS #
Overall 4 of 4
Sector (Oil/Gas Exploration) 3 of 3
Type (Add-on Acquisition) 2 of 2
State (California) 1 of 1
Country (United States) 3 of 3
Year (2021) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-07 Pinedale Liquids Gathering System

Pinedale, Wyoming, United States

Pinedale Liquids Gathering System was completed in 2010 and consists of more than 150 miles of underground gathering pipelines with 107 receipt points and four above-ground central gathering facilities that are utilized by UPL as a method of separating water, condensate and associated natural gas from a unified stream and subsequently selling or treating and disposing of the separated products.

Buy $225M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-25 Omega Pipeline

Fort Leonard Wood, Missouri, United States

Omega Pipeline is a connected gas distribution system. Omega Pipeline was formed in 1992 and is based in Fort Leonard Wood, Missouri.

Sell $175M
Mergr

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