M&A Deal Summary

Lotus Midstream Acquires Occidental Petroleum - Centurion Pipeline

On August 8, 2018, Lotus Midstream acquired oil/gas exploration company Occidental Petroleum - Centurion Pipeline from Occidental Petroleum

Acquisition Highlights
  • This is Lotus Midstream’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Lotus Midstream’s 1st transaction in the United States.
  • This is Lotus Midstream’s 1st transaction in California.

M&A Deal Summary
Date 2018-08-08
Target Occidental Petroleum - Centurion Pipeline
Sector Oil/Gas Exploration
Buyer(s) Lotus Midstream
Sellers(s) Occidental Petroleum
Deal Type Divestiture

Target

Occidental Petroleum - Centurion Pipeline

Los Angeles, California, United States
Occidental Petroleum Corp. - Centurion Pipeline is a large-scale, integrated network of approximately 3,000 miles of crude oil gathering and transportation pipelines that extend from southeast New Mexico across the Permian Basin of West Texas to Cushing, Oklahoma.

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Buyer(S) 1

Buyer

Lotus Midstream

Sugar Land, Texas, United States
Category Company
Founded 2018
Sector Energy Services and Equipment
DESCRIPTION

Lotus Midstream is an independent energy company focused on organic development of midstream infrastructure and services necessary to transport crude oil and condensate from the wellhead to market. Lotus also is pursuing strategic acquisition opportunities. The company’s mission is to leverage the management team’s thorough understanding of the crude oil value chain to identify optimal markets for supply and demand to maximize producer netbacks. Lotus Midstream was founded in 2018 and is based in Sugar Land, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1

Seller(S) 1

SELLER

Occidental Petroleum

Houston, Texas, United States
Category Company
Founded 1920
Sector Oil/Gas Exploration
Employees11,800
Revenue 28.3B USD (2023)
DESCRIPTION

Occidental Petroleum is an oil and gas exploration and production company. Occidental is an industry provider in applying advanced technology to boost production and access hard-to-recover reserves. Occidental Petroleum was founded in 1920 and is based in Houston, Texas.

DEAL STATS #
Overall 3 of 4
Sector (Oil/Gas Exploration) 1 of 2
Type (Divestiture) 3 of 4
State (California) 1 of 1
Country (United States) 3 of 3
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-08 Occidental Petroleum - Oxy Ingleside Energy Center

Ingleside, Texas, United States

Occidental Petroleum Corp. - Oxy Ingleside Energy Center is a storage and export terminalthat provides access to global markets for crudeoil and LPG producers and marketers. IEC has approximately 2.1 million barrels of oil storage capacity and three deep-water berths for crude oil.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-24 Anadarko Petroleum

The Woodlands, Texas, United States

Anadarko Petroleum Corp. is an independent oil and natural gas exploration and production company. Anadarko Petroleum was formed in 1959 and is based in The Woodlands, Texas.

Buy $57.0B
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