M&A Deal Summary

Journey Energy Acquires Enerplus - Certain Canadian Assets

On July 28, 2022, Journey Energy acquired oil/gas exploration company Enerplus - Certain Canadian Assets from Enerplus for 140M CAD

Acquisition Highlights
  • This is Journey Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Journey Energy’s 0th largest (disclosed) transaction.
  • This is Journey Energy’s 1st transaction in Canada.
  • This is Journey Energy’s 1st transaction in Alberta.

M&A Deal Summary
Date 2022-07-28
Target Enerplus - Certain Canadian Assets
Sector Oil/Gas Exploration
Buyer(s) Journey Energy
Sellers(s) Enerplus
Deal Type Divestiture
Deal Value 140M CAD

Target

Enerplus - Certain Canadian Assets

Alberta, Canada
Enerplus Corp's Certain Canadian Assets include Ante Creek and Medicine Hat operations along with its broad interests in the West Five and West Six areas of Alberta. Production from the Assets is approximately 3,400 BOE per day (60% crude oil) on a net after deduction of royalty basis (4,400 BOE per day before deduction of royalties). The Assets include over 400 net wells.

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Buyer(S) 1

Buyer

Journey Energy

Calgary, Alberta, Canada
Category Company
Founded 2007
Sector Oil/Gas Exploration
Revenue 234M CAD (2023)
DESCRIPTION

Journey Energy engages in the exploration, development, and production of oil and natural gas in the Western Canada Sedimentary Basin. Journey was incorporated in 2007 and is based in Calgary, Alberta.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2022) 1 of 1

Seller(S) 1

SELLER

Enerplus

Calgary, Alberta, Canada
Category Company
Founded 1986
Sector Oil/Gas Exploration
Employees404
Revenue 1.7B USD (2023)
DESCRIPTION

Enerplus is a North American energy producer with a portfolio of high-quality, low-decline oil and gas assets, complemented by growth assets in resource plays with superior economics. Enerplus was incorporated in 1986 and is based in Calgary, Canada.

DEAL STATS #
Overall 2 of 2
Sector (Oil/Gas Exploration) 2 of 2
Type (Divestiture) 2 of 2
State (Alberta) 1 of 1
Country (Canada) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 Hess - Williston Basin Assets

New York, New York, United States

Hess' Williston Basin Assets engaged in the production of crude oil and natural gas. Hess' Williston Basin Assets is based in New York.

Buy $312M
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