M&A Deal Summary

International Petroleum Acquires Granite Oil

On January 20, 2020, International Petroleum acquired oil/gas exploration company Granite Oil for 59M USD

Acquisition Highlights
  • This is International Petroleum’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is International Petroleum’s 4th largest (disclosed) transaction.
  • This is International Petroleum’s 3rd transaction in Canada.
  • This is International Petroleum’s 3rd transaction in Alberta.

M&A Deal Summary

Date 2020-01-20
Target Granite Oil
Sector Oil/Gas Exploration
Buyer(s) International Petroleum
Deal Type Special Situations/Distressed
Deal Value 59M USD

Target

Granite Oil

Calgary, Alberta, Canada
Granite Oil Corp. is a junior oil producer based in Calgary, Alberta, that owns and operates a large Alberta Bakken oil pool in southern Alberta discovered by Granite.

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Buyer(S) 1

Buyer

International Petroleum

Vancouver, British Columbia, Canada

Category Company
Founded 2017
Sector Oil/Gas Exploration
Employees271
Revenue 913M USD (2024)
DESCRIPTION

International Petroleum is an international oil and gas exploration and production company with a high-quality portfolio of assets located in Europe and Southeast Asia, providing a solid foundation for organic and inorganic growth. International Petroleum was founded in 2017 and is headquartered in Vancouver, British Columbia.


DEAL STATS #
Overall 3 of 4
Sector: Oil/Gas Exploration M&A 3 of 4
Type: Special Situations/Distressed M&A Deals 1 of 1
State: Alberta M&A 3 of 4
Country: Canada M&A 3 of 4
Year: 2020 M&A 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-10 BlackPearl Resources

Calgary, Alberta, Canada

BlackPearl Resources, Inc. is an oil and natural gas company. BlackPearl's current core properties are: Onion Lake, Saskatchewan - a conventional heavy oil property as well as a multi-phase thermal project. Blackrod, Alberta - a bitumen property located in the Athabasca oil sands region of which the Company is currently operating a pilot project using the SAGD recovery process. Mooney, Alberta - a conventional heavy oil property currently developed using both horizontal drilling and ASP flooding. BlackPearl Resources, Inc. was founded in 1984 and is based in Calgary, Alberta.

Buy $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-06 Cor4 Oil

Calgary, Alberta, Canada

Cor4 Oil is an E&P company developing conventional oil assets. The company is focused on maximizing the value of its assets through technical and operational improvements. Cor4 Oil is based in Calgary, Alberta.

Buy $62M