M&A Deal Summary

EIG Partners Acquires Ocyan

On December 28, 2023, asset manager EIG Partners acquired oil/gas exploration company Ocyan for 390M USD

Acquisition Highlights
  • This is EIG Partners’ 21st transaction in the Oil/Gas Exploration sector.
  • This is EIG Partners’ largest (disclosed) transaction.
  • This is EIG Partners’ 4th transaction in Brazil.

M&A Deal Summary
Date 2023-12-28
Target Ocyan
Sector Oil/Gas Exploration
Buyer(s) EIG Partners
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 390M USD

Target

Ocyan

Rio de Janeiro, Brazil
Ocyan is a solutions provider of maintenance solutions to the offshore oil and gas sector, including the operation of subsea construction and decommissioning projects. The company currently operates four offshore units through a 50/50 joint venture with Altera Infrastructure, holding long-term contracts with Libra Consortium, Karoon Energy, and 3R Petroleum. It is focused on the digitalization of the oil and gas industry and engineering, procurement, and construction (“EPC”) contracts for renewable energy projects. Ocyan is based in Rio de Janeiro, Brazil.

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Buyer(S) 1

Buyer

EIG Partners

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1982
PE ASSETS 39.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

EIG Global Energy Partners specializes in private investments in energy and energy-related infrastructure around the world. Specific areas of interest include upstream oil and gas, midstream, power generation, renewables, and related infrastructure. EIG manages a variety of funds that provide hybrid debt and structured equity financing solutions to energy projects and companies. The Firm also offers credit/direct lending vehicles that target higher credit-quality project finance instruments. EIG Global Energy Partners is headquartered in Washington, District of Columbia.

DEAL STATS #
Overall 55 of 55
Sector (Oil/Gas Exploration) 21 of 21
Type (Buyout (LBO, MBO, MBI)) 28 of 28
Country (Brazil) 4 of 4
Year (2023) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-11 CrownRock

Midland, Texas, United States

CrownRock is an independent oil and natural gas company engaged in the acquisition, development, exploitation and exploration of oil and natural gas properties. CrownRock operations are primarily focused on the development of its core Permian Basin assets. CrownRock was founded in 2007 and is based in Midland, Texas.

Sell $12.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-22 NuStar Energy

San Antonio, Texas, United States

NuStar Energy is an independent liquids terminal and pipeline operator. The company currently has approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia, and specialty liquids. NuStar Energy was founded in 1999 and is based in San Antonio, Texas.

Sell $7.3B
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