Buyout (LBO, MBO, MBI) • Oil/Gas Exploration

First Reserve Acquires Texas American

On September 1, 2018, private equity firm First Reserve acquired oil/gas exploration company Texas American

Acquisition Context
  • This is First Reserve’s 28th transaction in the Oil/Gas Exploration sector.
  • This is First Reserve’s 68th transaction in the United States.
  • This is First Reserve’s 36th transaction in Texas.

Explore All 526 Buyout (LBO, MBO, MBI) Oil/Gas Exploration Deals - Search the Database Free


M&A Deal Summary

Date September 1, 2018
Target Texas American
Sector Oil/Gas Exploration
Buyer(s) First Reserve
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Texas American

Austin, Texas, United States
Texas American is focused on the acquisition and production of oil resources in the South Texas. Texas American was founded in 2018 and is based in Austin, Texas.
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Buyer Overview 1

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 Context for Buyer #
Overall 102 of 112
Sector: Oil/Gas Exploration 28 of 29
Type: Buyout (LBO, MBO, MBI) 58 of 62
State: Texas 36 of 38
Country: United States 68 of 75
Year: 2018 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-06 Deep Gulf Energy

Houston, Texas, United States

Deep Gulf Energy LP is a private, growth-orientated exploration and production company focused in the Deepwater GoM. Deep Gulf focuses onlow-risk exploration and development opportunities near existing infrastructure in oil prone areas that can be tied back to existing production facilities in a safe efficient manner. Deep Gulf Energy was established in 2005 and is based in Houston, Texas.

Sell $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-02 Dixie Electric

Midland, Texas, United States

Dixie Electric is a provider of electrical materials and services to energy companies in the Permian, Williston and Marcellus basins. The company specializes in oil field electrical construction and maintenance. Dixie Electric was founded in 1951 and is based in Midland, Texas.

Sell -