M&A Deal Summary

Ithaca Energy Acquires Chevron North Sea

On May 30, 2019, Ithaca Energy acquired oil/gas exploration company Chevron North Sea for 2.0B USD

Acquisition Highlights
  • This is Ithaca Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Ithaca Energy’s largest (disclosed) transaction.
  • This is Ithaca Energy’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2019-05-30
Target Chevron North Sea
Sector Oil/Gas Exploration
Buyer(s) Ithaca Energy
Deal Type Add-on Acquisition
Deal Value 2.0B USD

Target

Chevron North Sea

Aberdeen, United Kingdom
Chevron North Sea Ltd. produces crude oil and natural gas from the United Kingdom North Sea. The company was incorporated in 1981 and is based in Aberdeen, United Kingdom.

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Buyer(S) 1

Buyer

Ithaca Energy

Aberdeen, United Kingdom

Category Company
Sector Oil/Gas Exploration
DESCRIPTION

Ithaca Energy (UK) Ltd. is a North Sea oil and gas operator focused on the delivery of lower risk growth through the appraisal and development of UK undeveloped discoveries and the exploitation of its existing UK producing asset portfolio. Ithaca’s strategy is centred on generating sustainable long term shareholder value by building a highly profitable 25kboe/d North Sea oil and gas company.


DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 2
Type (Add-on Acquisition) 1 of 2
Country (United Kingdom) 1 of 2
Year (2019) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-11 Siccar Point Energy

Aberdeen, United Kingdom

Siccar Point Energy Ltd. is a full-cycle production, development and exploration company focussed on high quality, low cost, long-life assets on the UK Continental Shelf. Siccar business now includes interests in four of the largest UK assets by remaining reserves (Schiehallion, Mariner, Cambo, and Rosebank) as well as an extensive portfolio of additional high-quality material development and exploration opportunities. Siccar Point Energy is based in Aberdeen, United Kingdom.

Buy $1.5B