M&A Deal Summary

EnLink Midstream Partners Acquires Devon Energy - Victoria Express Pipeline Business

On March 23, 2015, EnLink Midstream Partners acquired oil/gas exploration company Devon Energy - Victoria Express Pipeline Business from Devon Energy for 171M USD

Acquisition Highlights
  • This is EnLink Midstream Partners’ 1st transaction in the Oil/Gas Exploration sector.
  • This is EnLink Midstream Partners’ 2nd largest (disclosed) transaction.
  • This is EnLink Midstream Partners’ 1st transaction in the United States.
  • This is EnLink Midstream Partners’ 1st transaction in Oklahoma.

M&A Deal Summary
Date 2015-03-23
Target Devon Energy - Victoria Express Pipeline Business
Sector Oil/Gas Exploration
Buyer(s) EnLink Midstream Partners
Sellers(s) Devon Energy
Deal Type Divestiture
Deal Value 171M USD

Target

Devon Energy - Victoria Express Pipeline Business

Oklahoma City, Oklahoma, United States
Devon Energy's Victoria Express Pipeline Business is a natural oil and gas exploration company.

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Buyer(S) 1

Buyer

EnLink Midstream Partners

Dallas, Texas, United States
Category Company
Founded 1992
Sector Energy Services and Equipment
Employees1,432
Revenue 4.5B USD (2015)
DESCRIPTION
EnLink's corporate headquarters in Dallas, Texas.
EnLink's corporate headquarters in Dallas, Texas.

EnLink Midstream Partners LP is a provider of midstream energy services to producers of natural gas, natural gas liquids, crude oil and condensate. EnLink Midstream Partners was formed in 1992 and is based in Dallas, Texas.

DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 2
Type (Divestiture) 1 of 1
State (Oklahoma) 1 of 2
Country (United States) 1 of 2
Year (2015) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-07 Southcross Energy

Dallas, Texas, United States

Southcross Energy is a midstream natural gas company engaged in the gathering, processing and pipeline transportation of natural gas, with a total of more than 2,100 miles of pipeline assets. Southcross Energy is based in Dallas, Texas.

Sell $220M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-07 Tall Oak Midstream

Edmond, Oklahoma, United States

Tall Oak Midstream LLC is an innovative midstream company.

Buy $1.6B

Seller(S) 1

SELLER

Devon Energy

Oklahoma City, Oklahoma, United States
Category Company
Founded 1971
Sector Oil/Gas Exploration
Employees1,800
Revenue 15.3B USD (2023)
DESCRIPTION

Devon Energy a U.S. based independent natural gas and oil producers. The company's operations are focused on North American onshore exploration and production. Devon Energy was founded in 1971 and is based in Oklahoma City.

DEAL STATS #
Overall 9 of 11
Sector (Oil/Gas Exploration) 8 of 10
Type (Divestiture) 8 of 10
State (Oklahoma) 1 of 3
Country (United States) 6 of 8
Year (2015) 1 of 1
Size (of disclosed) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-02 Devon - 900 Gas Wells

Montana, United States

Devon - 900 Gas Wells provides natural gas production field in northern Montana.

Sell $70M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-16 Devon Energy - 28 000 Acres Midland Basin

Oklahoma City, Oklahoma, United States

Devon Energy - 28,000 Acres Midland Basin acreage is located in Martin, Midland, Upton, Reagan, Glasscock, Andrews, Dawson, Gaines and Howard counties in Texas. Current net production is approximately 1,000 barrels of oil equivalent per day (BOEPD), with oil comprising approximately 70% of the production.

Sell $435M
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