M&A Deal Summary

Frontera Energy Acquires C&C Energia

On November 20, 2012, Frontera Energy acquired oil/gas exploration company C&C Energia from Denham Capital and ARC Financial for 500M USD

Acquisition Highlights
  • This is Frontera Energy’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is Frontera Energy’s largest (disclosed) transaction.
  • This is Frontera Energy’s 1st transaction in Colombia.

M&A Deal Summary
Date 2012-11-20
Target C&C Energia
Sector Oil/Gas Exploration
Buyer(s) Frontera Energy
Sellers(s) Denham Capital
ARC Financial
Deal Type Add-on Acquisition
Deal Value 500M USD
Advisor(s) FirstEnergy Capital Corp. (Financial)
Blake, Cassels & Graydon
Posse Herrera Ruiz (Legal)

Target

C&C Energia

Bogotá, Colombia
C&C Energia is an oil and gas exploration and production company focused on Colombia. The company’s strategy is to develop producing oil and gas assets by exploring low to moderate risk areas.

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Buyer(S) 1

Buyer

Frontera Energy

Calgary, Alberta, Canada
Category Company
Founded 1985
Sector Oil/Gas Exploration
Employees1,107
Revenue 1.2B USD (2023)
DESCRIPTION

Frontera Energy is a explorer and producer of crude oil and natural gas, with operations focused in Latin America. The Company has a diversified portfolio of assets with interests in more than 25 exploration and production blocks in Colombia and Peru. Frontera Energy was founded in 1985 and is based in Calgary, Alberta.

DEAL STATS #
Overall 3 of 5
Sector (Oil/Gas Exploration) 3 of 5
Type (Add-on Acquisition) 2 of 4
Country (Colombia) 1 of 2
Year (2012) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-27 PetroMagdalena Energy

Toronto, Ontario, Canada

PetroMagdalena has working interests in 19 properties in five onshore basins in Colombia producing approximately 3.6 Mboe/d (approximately 95% light/medium crude oil and natural gas liquids) net after royalty in the first quarter of 2012 and with 2011 year-end net proved plus probable reserves of 22.9 MMboe (64% light/medium crude oil and natural gas liquids).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-28 Petrominerales

Calgary, Alberta, Canada

Petrominerales Ltd. is a provider of oil/gas exploration services in Canada.

Buy -

Seller(S) 2

SELLER

Denham Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 9.7B USD
Size Mega
Type Sector Focused
DESCRIPTION

Denham Capital Management is a specialist private investment firm focused on the energy and commodities sectors. Denham looks to invest in businesses and assets involving natural resources, metals and mining, power and utilities, and energy-related infrastructure and services. Denham will consider investments worldwide, with current projects in the US, Canada, South America, Europe, and Asia. Denham will also consider both development projects as well as mature, operating businesses. The Firm's target investment size is $50 to $200 million. Denham Capital Management was founded in 2004 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 9 of 22
Sector (Oil/Gas Exploration) 2 of 8
Type (Add-on Acquisition) 4 of 12
Country (Colombia) 1 of 1
Year (2012) 1 of 3
Size (of disclosed) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-23 Tall City Exploration

Midland, Texas, United States

Tall City Exploration is an oil and gas exploration and production company primarily focused on the Permian Basin. The company’s primary activities include the pursuit of acquisitions and the exploration and development of upstream oil and gas assets in the Permian Basin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-07 Big Island Carbon

Kailua-Kona, Hawaii, United States

Big Island Carbon manufacturers premium grade granular activated carbon. Our raw materials, proprietary technology, and sustainable practices create a unique product with an indisputable advantage for select global partners. Big Island Carbon was founded in 2009 and is based in Kailua-Kona, Hawaii.

Sell -
SELLER

ARC Financial

Calgary, Alberta, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 6.0B CAD
Size Mega
Type Sector Focused
DESCRIPTION

ARC Financial Corp is a specialist private equity firm that invests in Canadian energy companies. Specific areas of interest include emerging resources/drilling technologies, oil sands, and oilfield services. ARC looks to commit $25 to $100 million per transaction. Transaction types include buyouts, growth capital financings, and recapitalizations. ARC Financial Corp. was formed in 1989 and is headquartered in Calgary.

DEAL STATS #
Overall 2 of 9
Sector (Oil/Gas Exploration) 2 of 6
Type (Add-on Acquisition) 2 of 7
Country (Colombia) 1 of 1
Year (2012) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-26 Sitka Exploration

Calgary, Alberta, Canada

Sitka Exploration is a private oil & gas company that focused on grassroots exploitation of Ellerslie, Glauconite, and Elkton targets in the deep basin of West Central Alberta. Sitka Exploration was founded in 2011 and is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-30 Huron Energy

Calgary, Alberta, Canada

Huron Energy Corporation is a private exploration and production company led by the former management team of Rubicon Energy Corporation, a successful explorer in the Pembina Nisku oil play. Huron is pursuing a full cycle exploration strategy targeting unconventional gas resources in the Triassic formation in northeast British Columbia.

Sell -
Mergr

Product

Company

Legal