M&A Deal Summary

EOG Resources Acquires Somerset Energy

On December 22, 2000, EOG Resources acquired oil/gas exploration company Somerset Energy from Metalmark Capital

Acquisition Highlights
  • This is EOG Resources’ 1st transaction in the Oil/Gas Exploration sector.
  • This is EOG Resources’ 1st transaction in the United States.
  • This is EOG Resources’ 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2000-12-22
Target Somerset Energy
Sector Oil/Gas Exploration
Buyer(s) EOG Resources
Sellers(s) Metalmark Capital
Deal Type Add-on Acquisition

Target

Somerset Energy

Somerset, Pennsylvania, United States
Somerset Energy was an independent energy company that was formed to acquire, develop and produce and oil and natural gas located in the Appalachian Basin.

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Buyer(S) 1

Buyer

EOG Resources

Houston, Texas, United States

Category Company
Founded 1985
Sector Oil/Gas Exploration
Employees3,150
Revenue 23.4B USD (2024)
DESCRIPTION
EOG Resource's corporate headquarters in downtown Houston, Texas.
EOG Resource's corporate headquarters in downtown Houston, Texas.

EOG Resources is a non-integrated crude oil and natural gas company with proved reserves in the US, Canada, Trinidad, the UK, and China. EOG Resources was founded in 1985 and is based in Houston, Texas.


DEAL STATS #
Overall 1 of 3
Sector: Oil/Gas Exploration M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 3
State: Pennsylvania M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2000 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-18 Galveston LNG

Calgary, Alberta, Canada

Galveston LNG is a privately owned Canadian energy development company. Galveston is focused on international opportunities within the LNG industry and is currently developing an LNG liquefaction export facility at Kitimat, British Columbia. The Galveston companies create a synergistic approach to originating, trading, storing, liquefying, and exporting of LNG for proprietary projects and for third parties worldwide.

Buy -

Seller(S) 1

SELLER

Metalmark Capital

New York, New York, United States

Category Private Equity Firm
Founded 2004
PE ASSETS 8.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Metalmark Capital is an independent private equity group focused on large company transactions in a wide range of industries. Metalmark is a hands-on investment firm looking to build long-term value in its portfolio companies. Broad areas of interest include natural resources/energy, healthcare services, industrials, food, transportation, and financial services. Metalmark was established in 2004 by the former principals of Morgan Stanley Capital Partners to manage the Metalmark Capital and Morgan Stanley Capital Partners funds. Metalmark is based in New York City.


DEAL STATS #
Overall 14 of 40
Sector: Oil/Gas Exploration M&A 4 of 8
Type: Add-on Acquisition M&A Deals 7 of 20
State: Pennsylvania M&A 1 of 2
Country: United States M&A 13 of 37
Year: 2000 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-12-18 Catalytica Energy Systems

Tempe, Arizona, United States

Catalytica Energy Systems, Inc. is a provider of bulk actives, chemical intermediates and sterile pharmaceutical products for major pharmaceutical companies, including Merck, Pharmacia & Upjohn, Pfizer and Bristol-Myers Squibb.

Sell $800M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-10-01 Cross Country Healthcare

Boca Raton, Florida, United States

Cross Country Healthcare is a provider of healthcare staffing services including temporary nurse staffing and other human capital management services in contract with approximately 5,000 hospital, pharmaceutical and biotechnology customers throughout all fifty states. Cross Country Healthcare was incorporated in 1986 and is based in Boca Raton, Florida.

Sell -