M&A Deal Summary

CPP Investments Acquires DJ Basin Oil & Gas - Assets

On October 9, 2015, pension CPP Investments acquired oil/gas exploration company DJ Basin Oil & Gas - Assets from Encana Oil & Gas for 900M USD

Acquisition Highlights
  • This is CPP Investments’ 1st transaction in the Oil/Gas Exploration sector.
  • This is CPP Investments’ 24th largest (disclosed) transaction.
  • This is CPP Investments’ 8th transaction in the United States.
  • This is CPP Investments’ 2nd transaction in Colorado.

M&A Deal Summary

Date 2015-10-09
Target DJ Basin Oil & Gas - Assets
Sector Oil/Gas Exploration
Buyer(s) CPP Investments
Sellers(s) Encana Oil & Gas
Deal Type Divestiture
Deal Value 900M USD

Target

DJ Basin Oil & Gas - Assets

Colorado, United States
DJ Basin acreage comprises 51,000 net acres. During the first half of 2015, the assets produced an average of 52 million cubic feet per day (MMcf/d) of natural gas and 14,800 barrels per day of crude oil and natural gas liquids.

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Buyer(S) 1

Buyer
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


DEAL STATS #
Overall 11 of 51
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 2 of 8
State (Colorado) 2 of 2
Country (United States) 8 of 26
Year (2015) 3 of 4
Size (of disclosed) 24 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-07 Informatica

Redwood City, California, United States

Informatica is an IT company that helps organizations access, integrate and trust all their information assets. Informatica was founded in 1993 and is based in Redwood City, California.

Buy $5.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-23 Petco Health and Wellness Company

San Diego, California, United States

Petco Health and Wellness Company is a health and wellness company focused on improving the lives of pets, pet parents, and their own Petco partners. The company is focused on delivering comprehensive wellness solutions through its products and services, and creating communities that deepen the pet-pet parent bond. It operates more than 1,500 Petco locations across the U.S., Mexico, and Puerto Rico, including a growing network of more than 100 in-store veterinary hospitals, and offer a complete online resource for pet health and wellness. Petco Health and Wellness Company was founded in 1965 and is based in San Diego, California.

Buy $4.6B

Seller(S) 1

SELLER

Encana Oil & Gas

Denver, Colorado, United States

Category Company
Founded 1987
Sector Oil/Gas Exploration
DESCRIPTION

Encana Oil & Gas (USA), Inc. is a provider of oil/gas exploration services.


DEAL STATS #
Overall 3 of 5
Sector (Oil/Gas Exploration) 3 of 4
Type (Divestiture) 3 of 5
State (Colorado) 1 of 2
Country (United States) 3 of 5
Year (2015) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-01 Encana Oil & Gas - Moneta Divide Assets

Wind River Basin, Wyoming, United States

Encana Oil & Gas' Moneta Divide Assets comprise approximately 188,000 net acres in Wyoming in the Wind River Basin. The asset is a low-risk resource with a long reserve life and low-cost drilling opportunities.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-16 Encana Oil & Gas - Howard County Texas

Howard County, Texas, United States

Encana Oil & Gas - Howard County, Texas comprises low-pressure gathering lines, multiple compressor stations and a 38-mile, 16-inch high-pressure pipeline, providing fully integrated services for both natural gas and natural gas liquids.

Sell -