M&A Deal Summary |
|
|---|---|
| Date | 2023-06-15 |
| Target | Novo Oil & Gas |
| Sector | Oil/Gas Exploration |
| Buyer(s) | Earthstone Energy |
| Sellers(s) | EnCap Investments |
| Deal Type | Add-on Acquisition |
| Deal Value | 1.5B USD |
| Advisor(s) | RBC Richardson Barr (Financial) Vinson & Elkins (Legal) |
SEARCH BY
| Category | Company |
|---|---|
| Founded | 1969 |
| Sector | Oil/Gas Exploration |
| Employees | 81 |
| Revenue | 420M USD (2021) |
Earthstone Energy is a growth-oriented independent oil and gas exploration and production company engaged in developing and acquiring oil and gas reserves through an active and diversified program that includes acquiring, drilling and developing undeveloped leases, asset and corporate acquisitions and exploration activities, with its primary assets located in the Eagle Ford trend of south Texas, the Midland Basin of west Texas, and the Williston Basin of North Dakota. Earthstone Energy was founded in 1969 and is based in The Woodlands, Texas.
| DEAL STATS | # |
|---|---|
| Overall | 8 of 8 |
| Sector: Oil/Gas Exploration M&A | 8 of 8 |
| Type: Add-on Acquisition M&A Deals | 5 of 5 |
| State: Oklahoma M&A | 1 of 1 |
| Country: United States M&A | 7 of 7 |
| Year: 2023 M&A | 2 of 2 |
| Size (of disclosed) | 1 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-06-15 |
Novo Oil & Gas - Northern Delaware Basin Permian Assets
Eddy County, Texas, United States Novo Oil & Gas' Northern Delaware Basin Permian Assets include approximately 5,600 net acres, 29.2 net producing wells, 7.2 net wells-in-process and 59.9 low-breakeven net undeveloped locations. Novo Oil & Gas' Northern Delaware Basin Permian Assets are based in Eddy County, Texas. |
Buy | - |
| Category | Growth Capital Firm |
|---|---|
| Founded | 1988 |
| PE ASSETS | 38.0B USD |
| Size | Mega |
| Type | Sector Focused |
EnCap Investments is a private equity firm focused on the US energy sector. EnCap specifically looks for upstream and midstream opportunities within the oil and gas industry. EnCap generally partners with seasoned management when pursuing investments. EnCap Investments has offices in Dallas and Houston.
| DEAL STATS | # |
|---|---|
| Overall | 54 of 58 |
| Sector: Oil/Gas Exploration M&A | 52 of 54 |
| Type: Add-on Acquisition M&A Deals | 34 of 36 |
| State: Oklahoma M&A | 4 of 4 |
| Country: United States M&A | 53 of 57 |
| Year: 2023 M&A | 6 of 6 |
| Size (of disclosed) | 5 of 31 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-05-12 |
Forge Energy II
San Antonio, Texas, United States Forge Energy II is an exploration and production company focused on the acquisition and development of horizontal resource plays in the Lower 48. Forge Energy II is based in San Antonio, Texas. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2024-01-01 |
Aither Systems
Plano, Texas, United States Aither Systems is a manufacturer and operator of microgrid systems for cell towers and other critical infrastructure assets in the United States. Aither Systems is based in Plano, Texas. |
Buy | - |
