M&A Deal Summary

Empire Petroleum Acquires Cardinal Exploration and Production - Oil and Gas Assets

On October 10, 2018, Empire Petroleum acquired oil/gas exploration company Cardinal Exploration and Production - Oil and Gas Assets from Cardinal Exploration and Production

Acquisition Highlights
  • This is Empire Petroleum’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is Empire Petroleum’s 2nd transaction in the United States.
  • This is Empire Petroleum’s 2nd transaction in Louisiana.

M&A Deal Summary
Date 2018-10-10
Target Cardinal Exploration and Production - Oil and Gas Assets
Sector Oil/Gas Exploration
Buyer(s) Empire Petroleum
Sellers(s) Cardinal Exploration and Production
Deal Type Divestiture

Target

Cardinal Exploration and Production - Oil and Gas Assets

Beauregard Parish, Louisiana, United States
Cardinal Exploration and Production Co. - Oil and Gas Assets is an oil gas company.

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Buyer(S) 1

Buyer

Empire Petroleum

Tulsa, Oklahoma, United States
Category Company
Founded 1983
Sector Oil/Gas Exploration
Employees50
Revenue 40M USD (2023)
DESCRIPTION

Empire Petroleum is an oil and gas company. Empire Petroleum focused on targeted acquisitions of proved developed assets with synergies with its existing portfolio of wells. Empire Petroleum was founded in 1983 and is based in Tulsa, Oklahoma.

DEAL STATS #
Overall 2 of 4
Sector (Oil/Gas Exploration) 2 of 4
Type (Divestiture) 2 of 4
State (Louisiana) 2 of 2
Country (United States) 2 of 4
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-10 Exodus Energy - Oil and Gas Assets

St. Landry Parish, Louisiana, United States

Exodus Energy, Inc. - Oil and Gas Assets is an oil and gas wells with predictable, low decline production profiles, low risk workover.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-03 EnergyQuest II - Producing Oil & Gas Assets

Houston, Texas, United States

EnergyQuest II LLC - Producing Oil & Gas Assets are comprised of 184 producing oil and gas wells with predictable, low decline production profiles, low-risk workover opportunities, undeveloped new drilling opportunities and other potential operating and production enhancements to improve unit operating costs and improve existing margins.

Buy -

Seller(S) 1

SELLER

Cardinal Exploration and Production

Jarreau, Louisiana, United States
Category Company
Founded 1988
Sector Oil/Gas Exploration
DESCRIPTION

Cardinal Exploration and Production Co. is an exploration and production of oil and gas company. Cardinal Exploration and Production Co. was founded in 1988 and is based in Jarreau, Louisiana.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
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