M&A Deal Summary

First Reserve, Dominion Energy and Caiman Energy II Acquire Blue Racer Midstream

On January 2, 2012, private equity firm First Reserve, Dominion Energy and Caiman Energy II acquired oil/gas exploration company Blue Racer Midstream

Acquisition Highlights
  • This is First Reserve’s 20th, Dominion Energy’s 3rd and Caiman Energy II’s 1st transaction in the Oil/Gas Exploration sector.
  • This is First Reserve’s 42nd, Dominion Energy’s 8th and Caiman Energy II’s 1st transaction in the United States.
  • This is First Reserve’s 1st, Dominion Energy’s 2nd and Caiman Energy II’s 1st transaction in Oklahoma.

M&A Deal Summary

Date 2012-01-02
Target Blue Racer Midstream
Sector Oil/Gas Exploration
Buyer(s) First Reserve
Dominion Energy
Caiman Energy II
Deal Type Joint Venture

Target

Blue Racer Midstream

Tulsa, Oklahoma, United States
Blue Racer Midstream own, operate, develop and acquire midstream assets in the Utica Shale and certain adjacent areas in the Marcellus Shale. Blue Racer provides natural gas gathering, compression, dehydrating, treating, processing, fractionation, and transportation services, forming an interconnected midstream business. Blue Racer Midstream was founded in 1975 and is based in Tulsa, Oklahoma.

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Buyer(S) 3

Buyer

First Reserve

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 32.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

First Reserve is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 71 of 112
Sector: Oil/Gas Exploration M&A 20 of 29
Type: Joint Venture M&A Deals 4 of 5
State: Oklahoma M&A 1 of 3
Country: United States M&A 42 of 75
Year: 2012 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-07 Umcebo Mining Pty.

Johannesburg, South Africa

Umcebo is a mining company with coal mining interests in Witbank, in the province of Mpumalanga, South Africa and with major deposits in the Wonderfontein and Delmas areas of South Africa. Umcebo and its subsidiaries currently own and/or operate eight collieries in the Witbank coalfield, producing various products for Eskom, the domestic market and export markets. An additional colliery will be brought on stream in the near future. Umcebo has the necessary expertise to plan, develop, staff and manage coal mining operations. Umcebo qualifies as a black-empowered company as defined by the Minerals and Petroleum Resources Development Act and the Mining Charter of South Africa.

Sell руб.900M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-01 FREIF North American Power I

Greenwich, Connecticut, United States

FREIF North American Power I is a platform to own a portfolio of contracted power generation assets in the United States. The portfolio consists of four facilities located in California, Texas, New Mexico, and Connecticut, that generate a total of over 1,000 MW net to NAP I. All four facilities operate under contracts with investment grade utilities that extend through at least 2024. North America Power I is headquartered in Greenwich, CT.

Buy -
Buyer

Dominion Energy

Richmond, Virginia, United States

Category Company
Founded 1983
Sector Utilities
Employees14,700
Revenue 14.5B USD (2024)
DESCRIPTION
Dominion's corporate headquarters in downtown Richmond, Virginia.
Dominion's corporate headquarters in downtown Richmond, Virginia.

Dominion Energy is a producer and transporter of energy, with a portfolio of approximately 25,700 megawatts of electric generation, 15,000 miles of natural gas transmission, gathering, storage, and distribution pipeline, and 6,600 miles of electric transmission and distribution lines. Dominion Energy was founded in 1983 and is based in Richmond, Virginia.


DEAL STATS #
Overall 8 of 27
Sector: Oil/Gas Exploration M&A 3 of 4
Type: Joint Venture M&A Deals 1 of 1
State: Oklahoma M&A 2 of 2
Country: United States M&A 8 of 27
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-15 Dominion Appalachian E&P Business

United States

Dominion Appalachian E&P Business engages in exploration and production business.

Sell $3.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-11 Dominion - Three Merchant Power Stations

United States

Dominion's Three Merchant Power Stations are, Brayton Point Power Station, a 1,528-megawatt power station in Somerset, Kincaid Power Station, a 1,158-megawatt power station in Kincaid and Elwood Power Station, a 1,424-megawatt power station outside Chicago.

Sell -
Buyer

Caiman Energy II

Dallas, Texas, United States

Category Company
Founded 2012
Sector Oil/Gas Exploration
DESCRIPTION

Caiman Energy II is working in the Utica shale play to provide the infrastructure necessary to move natural gas products from the wellhead to market.


DEAL STATS #
Overall 1 of 1
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Joint Venture M&A Deals 1 of 1
State: Oklahoma M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2012 M&A 1 of 1