M&A Deal Summary

Kosmos Acquires Deep Gulf Energy

On August 6, 2018, Kosmos acquired oil/gas exploration company Deep Gulf Energy from First Reserve and Quintana Capital Group for 1.2B USD

Acquisition Highlights
  • This is Kosmos’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Kosmos’ largest (disclosed) transaction.
  • This is Kosmos’ 1st transaction in the United States.
  • This is Kosmos’ 1st transaction in Texas.

M&A Deal Summary
Date 2018-08-06
Target Deep Gulf Energy
Sector Oil/Gas Exploration
Buyer(s) Kosmos
Sellers(s) First Reserve
Quintana Capital Group
Deal Type Add-on Acquisition
Deal Value 1.2B USD

Target

Deep Gulf Energy

Houston, Texas, United States
Deep Gulf Energy LP is a private, growth-orientated exploration and production company focused in the Deepwater GoM. Deep Gulf focuses onlow-risk exploration and development opportunities near existing infrastructure in oil prone areas that can be tied back to existing production facilities in a safe efficient manner. Deep Gulf Energy was established in 2005 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Kosmos

Dallas, United States
Category Company
Founded 2003
Sector Oil/Gas Exploration
Employees243
Revenue 1.7B USD (2023)
DESCRIPTION

Kosmos is a full-cycle, deepwater, independent oil and gas exploration and production company focused along the offshore Atlantic Margins. Our key assets include production offshore Ghana, Equatorial Guinea and the U.S. Gulf of Mexico, as well as world-class gas projects offshore Mauritania and Senegal. Kosmos was founded in 2003 and is based in Dallas, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-04 Kosmos Energy - Mauritania Oil and Gas Exploration

Bermuda

Mauritania is a significant extension of the core Cretaceous theme along the West Africa Transform Margin that Kosmos confirmed in the Tano Basin offshore Ghana.

Sell -

Seller(S) 2

SELLER

First Reserve

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 32.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

First Reserve is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 45 of 57
Sector (Oil/Gas Exploration) 12 of 15
Type (Add-on Acquisition) 18 of 19
State (Texas) 15 of 20
Country (United States) 28 of 38
Year (2018) 3 of 4
Size (of disclosed) 6 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-18 Dresser Utility Solutions

Houston, Texas, United States

Dresser Utility Solutions is a global original equipment manufacturer of commercial and industrial natural gas meters and pipeline repair products. Dresser Utility Solutions has highly accurate, scalable manufacturing capabilities for proprietary dresser products including natural gas meters and instruments and gas pipeline solutions, as well as additional manufacturing of chemical injection pumps and electric actuators. Dresser Utility Solutions was founded in 1880 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-01 Texas American

Austin, Texas, United States

Texas American is focused on the acquisition and production of oil resources in the South Texas. Texas American was founded in 2018 and is based in Austin, Texas.

Buy -
SELLER

Quintana Capital Group

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 950M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Quintana Capital Group is a private investment group that makes control-oriented investments in the energy industry. Quintana will consider investments across the energy spectrum, including upstream, services, and downstream. The Firm targets investments ranging from $10 to $125 million. Quintana is based in Houston, Texas.

DEAL STATS #
Overall 4 of 4
Sector (Oil/Gas Exploration) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Texas) 2 of 2
Country (United States) 3 of 3
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-20 Quintana Energy Services

Houston, Texas, United States

Quintana Energy Services, Inc. provides a wide range of completion, production and drilling services to onshore E&P customers operating in unconventional resource plays and conventional basins throughout the U.S. QES operates via two subsidiaries, Consolidated and DDC. Consolidated provides frac, cementing, acidizing, wireline, water heating, and transfer and CO2 product sales and transportation services. DDC provides directional and horizontal measurement-while-drilling services, downhole navigational and rental tools, and associated support services. Quintana Energy Services was founded in 2017 and is based in Houston, Texas.

Sell -
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