Add-on Acquisition • Oil/Gas Exploration

Enerplus Acquires Bruin E&P HoldCo

On January 25, 2021, Enerplus acquired oil/gas exploration company Bruin E&P HoldCo for 465M USD

Acquisition Context
  • This is Enerplus’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Enerplus’ largest (disclosed) transaction.
  • This is Enerplus’ 1st transaction in the United States.
  • This is Enerplus’ 1st transaction in Montana.

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M&A Deal Summary

Date January 25, 2021
Target Bruin E&P HoldCo
Sector Oil/Gas Exploration
Buyer(s) Enerplus
Deal Type Add-on Acquisition
Deal Value 465M USD

Target Company

Bruin E&P HoldCo

Montana, United States
Bruin E&P HoldCo is a pure play Williston Basin private company that includes 151,000 net acres in the Williston Basin. Bruin includes approximately 24,000 BOE per day of existing production (working interest(1)), 84 MMBOE of proved plus probable reserves (working interest(1)), and an inventory of 149 (111 net) drilling locations (including drilled uncompleted wells).
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Buyer Overview 1

Buyer

Enerplus

Calgary, Alberta, Canada

Category Company
Founded 1986
Sector Oil/Gas Exploration
Employees404
Revenue 1.7B USD (2023)
DESCRIPTION

Enerplus is a North American energy producer with a portfolio of high-quality, low-decline oil and gas assets, complemented by growth assets in resource plays with superior economics. Enerplus was incorporated in 1986 and is based in Calgary, Canada.


Deal Context for Buyer #
Overall 1 of 2
Sector: Oil/Gas Exploration 1 of 2
Type: Add-on Acquisition 1 of 1
State: Montana 1 of 1
Country: United States 1 of 2
Year: 2021 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-01 Enerplus - Southwest Saskatchewan Viking Assets

Canada

Sell $106M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 Hess - Williston Basin Assets

New York, New York, United States

Hess' Williston Basin Assets engaged in the production of crude oil and natural gas. Hess' Williston Basin Assets is based in New York.

Buy $312M