M&A Deal Summary

Empire Petroleum Acquires EnergyQuest II - Producing Oil & Gas Assets

On April 3, 2019, Empire Petroleum acquired oil/gas exploration company EnergyQuest II - Producing Oil & Gas Assets from EnergyQuest II

Acquisition Highlights
  • This is Empire Petroleum’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is Empire Petroleum’s 3rd transaction in the United States.
  • This is Empire Petroleum’s 1st transaction in Texas.

M&A Deal Summary
Date 2019-04-03
Target EnergyQuest II - Producing Oil & Gas Assets
Sector Oil/Gas Exploration
Buyer(s) Empire Petroleum
Sellers(s) EnergyQuest II
Deal Type Divestiture

Target

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.

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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 3 of 4
Sector (Oil/Gas Exploration) 3 of 4
Type (Divestiture) 3 of 4
State (Texas) 1 of 2
Country (United States) 3 of 4
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-10 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-16 Pardus Oil & Gas - Texas Oil and Gas Assets

Houston, Texas, United States

Pardus Oil & Gas LLC - Texas Oil and Gas Assets comprises 139 gross oil and gas wells with multiple stacked-pay formations in northeast Eagle Ford and encompasses approximately 30,397 net acres of leasehold, of which approximately 18,000 net acres comprise the Ft. Trinidad Field. The properties are characterized by approximately 91% working interest and 83% net revenue interests, and have been recently producing over 400 BOEPD (Barrels of Oil Equivalent per Day) primarily from the Woodbine, Buda, Georgetown, and Edwards formations.

Buy -

Seller(S) 1

SELLER

EnergyQuest II

Houston, Texas, United States
Category Company
Sector Oil/Gas Exploration
DESCRIPTION

EnergyQuest II, LLC is a Houston, TX based oil and gas company primarily focused on creating value through the acquisition, development and efficient operation of properties located in South Louisiana and the upper Texas Gulf Coast.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
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