M&A Deal Summary

Double Eagle Energy Permian Acquires Veritas Energy Partners Holdings

On October 3, 2016, Double Eagle Energy Permian acquired oil/gas exploration company Veritas Energy Partners Holdings from Post Oak Energy Capital

Acquisition Highlights
  • This is Double Eagle Energy Permian’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Double Eagle Energy Permian’s 1st transaction in the United States.
  • This is Double Eagle Energy Permian’s 1st transaction in Texas.

M&A Deal Summary

Date 2016-10-03
Target Veritas Energy Partners Holdings
Sector Oil/Gas Exploration
Buyer(s) Double Eagle Energy Permian
Sellers(s) Post Oak Energy Capital
Deal Type Merger
Advisor(s) TPH & Co. (Financial)
Latham & Watkins (Legal)

Target

Veritas Energy Partners Holdings

Westworth Village, Texas, United States
Veritas Energy Partners Holdings LLC is an exploration and production company involved in the acquisition and development of oil and gas properties.

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Buyer(S) 1

Buyer

Double Eagle Energy Permian

Fort Worth, Texas, United States

Category Company
Sector Oil/Gas Exploration
DESCRIPTION

Double Eagle Energy Permian LLC has more than 63,000 core Midland Basin net acres (over 70% operated) located predominantly in Midland, Martin, Howard and Glasscock counties, and a team with extensive experience drilling and operating wells in the region.


DEAL STATS #
Overall 1 of 1
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Merger M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2016 M&A 1 of 1

Seller(S) 1

SELLER

Post Oak Energy Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
Size Middle-Market
Type Sector Focused
DESCRIPTION

Post Oak Energy Capital is a private investment firm focused on growth capital investments US energy companies. Specific areas of interest include exploration and production, oilfield services (manufacturing/distribution), and midstream/related infrastructure assets. Post Oak Energy Capital is based in Houston, Texas.


DEAL STATS #
Overall 7 of 14
Sector: Oil/Gas Exploration M&A 4 of 8
Type: Merger M&A Deals 1 of 1
State: Texas M&A 5 of 12
Country: United States M&A 7 of 14
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-24 Mavros Minerals

Midland, Texas, United States

Mavros Minerals acquires mineral and royalty interests in the Permian Basin. Mavros is led by a team who use their experience as local operators to source, analyze and execute on acquisition opportunities. Mavros Minerals was formed in 2016 and is based in Midland, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Crown Oil Partners V

Midland, Texas, United States

Crown Oil Partners V is an oil and gas company with a business model of acquiring and developing low-risk oil and natural gas exploitation properties primarily located in the Permian Basin. Crown Oil Partners will use the proceeds from the investment to accelerate the development of its existing asset base and to acquire additional exploitation assets. Crown Oil Partners V is based in Midland, Texas.

Sell -