M&A Deal Summary

GEPetrol Acquires Devon Energy - Equatorial Guinea Assets

On April 8, 2008, GEPetrol acquired oil/gas exploration company Devon Energy - Equatorial Guinea Assets from Devon Energy for 2.2B USD

Acquisition Highlights
  • This is GEPetrol’s 1st transaction in the Oil/Gas Exploration sector.
  • This is GEPetrol’s largest (disclosed) transaction.
  • This is GEPetrol’s 1st transaction in South Africa.

M&A Deal Summary
Date 2008-04-08
Target Devon Energy - Equatorial Guinea Assets
Sector Oil/Gas Exploration
Buyer(s) GEPetrol
Sellers(s) Devon Energy
Deal Type Divestiture
Deal Value 2.2B USD

Target

Devon Energy - Equatorial Guinea Assets

South Africa
Devon Energy Corp. - Equatorial Guinea Assets consists of offshore oil field, located on Block B.

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Buyer(S) 1

Buyer

GEPetrol

Malabo, Equatorial Guinea
Category Company
Sector Oil/Gas Exploration
DESCRIPTION

GEPetrol is an operator of oil and gas company.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
Country (South Africa) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1

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 3 of 11
Sector (Oil/Gas Exploration) 2 of 10
Type (Divestiture) 3 of 10
Country (South Africa) 1 of 1
Year (2008) 2 of 3
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-06 Devon Energy - Cote d Ivoire Assets

United States

Devon Energy Corp. - Cote d'Ivoire Assets include Devon's interests in offshore producing Block CI-11, offshore undeveloped Block CI-01 and the onshore Lion gas processing plant. Devon's current net production from Cote d'Ivoire is approximately 3,000 oil-equivalent barrels per day.

Sell $205M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-13 Devon Energy - Gabon Assets

United States

Devon Energy Corp. - Gabon Assets include an interest in the Kowe block, currently producing approximately 3,750 barrels of oil per day, net to Devon's interest.

Sell $206M
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