M&A Deal Summary

Devon Energy Acquires Chief Holdings

On May 2, 2006, Devon Energy acquired energy services and equipment company Chief Holdings for 2.2B USD

Acquisition Highlights
  • This is Devon Energy’s 1st transaction in the Energy Services and Equipment sector.
  • This is Devon Energy’s 7th largest (disclosed) transaction.
  • This is Devon Energy’s 6th transaction in the United States.
  • This is Devon Energy’s 1st transaction in Connecticut.

M&A Deal Summary

Date 2006-05-02
Target Chief Holdings
Sector Energy Services and Equipment
Buyer(s) Devon Energy
Deal Type Add-on Acquisition
Deal Value 2.2B USD

Target

Chief Holdings

Waterbury, Connecticut, United States
Chief Holdings LLC is a provider of energy services.

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Buyer(S) 1

Buyer

Devon Energy

Oklahoma City, Oklahoma, United States

Category Company
Founded 1971
Sector Oil/Gas Exploration
Employees1,800
Revenue 15.3B USD (2023)
DESCRIPTION

Devon Energy a U.S. based independent natural gas and oil producers. The company's operations are focused on North American onshore exploration and production. Devon Energy was founded in 1971 and is based in Oklahoma City.


DEAL STATS #
Overall 8 of 13
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 6 of 9
State (Connecticut) 1 of 1
Country (United States) 6 of 11
Year (2006) 1 of 1
Size (of disclosed) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-02-24 Ocean Energy

Houston, Texas, United States

Ocean Energy, Inc. an independent oil and gas exploration and production company.

Buy $5.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-18 Devon Energy - Egyptian Oil and Gas Operations

United States

Devon Energy Corp. - Egyptian Oil and Gas Operations is a provider of oil and gas exploration services, the assets also includes interest in eight concessions.

Sell $375M