M&A Deal Summary

Merit Energy Acquires Plantation Petroleum Holdings IV

On November 1, 2011, private equity firm Merit Energy acquired oil/gas exploration company Plantation Petroleum Holdings IV from EnCap Investments for 326M USD

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

M&A Deal Summary

Date 2011-11-01
Target Plantation Petroleum Holdings IV
Sector Oil/Gas Exploration
Buyer(s) Merit Energy
Sellers(s) EnCap Investments
Deal Type Secondary Buyout
Deal Value 326M USD

Target

Plantation Petroleum Holdings IV

Houston, Texas, United States
Plantation Petroleum Holdings IV is an upstream oil and gas company focused in the Permian Basin in West Texas and Southeast New Mexico. Plantation Petroleum Holdings IV was founded in 2007 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Merit Energy

Dallas, Texas, United States

Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 6.7B USD
Size Mega
Type Sector Focused
DESCRIPTION

Merit Energy Company is a private investment firm specializing in direct investments in mature oil and gas assets. Merit Energy acquires, operates and develops producing oil and gas properties in the US, Canada, and the Gulf of Mexico. Merit Energy was formed in 1989 and has offices in Dallas, Texas and Calgary, Canada.


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-12 Red Butte Pipe Line

Casper, New York, United States

Red Butte Pipe Line LLC is a 530-mile crude oil gathering system with an expansive footprint across the Big Horn and Wind River Basins. Red Butte is anchored by a long-term dedication, and is currently the largest pipeline gathering asset transporting crude oil out of the Big Horn and Wind River Basins to Casper, WY.

Sell -

Seller(S) 1

SELLER

EnCap Investments

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1988
PE ASSETS 38.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

EnCap Investments is a private equity firm focused on the US energy sector. EnCap specifically looks for upstream and midstream opportunities within the oil and gas industry. EnCap generally partners with seasoned management when pursuing investments. EnCap Investments has offices in Dallas and Houston.


DEAL STATS #
Overall 29 of 51
Sector (Oil/Gas Exploration) 29 of 48
Type (Secondary Buyout) 6 of 11
State (Texas) 21 of 38
Country (United States) 29 of 50
Year (2011) 3 of 3
Size (of disclosed) 19 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-08 Marquette Exploration

The Woodlands, Texas, United States

Marquette Exploration LLC a oil and gas exploration company.

Sell $750M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Broad Oak Energy II

Dallas, Texas, United States

Broad Oak Energy II is a Dallas-based, independent oil and gas company focused on the pursuit of low-risk leasing and drilling opportunities in domestic resource plays. Broad Oak Energy II is actively pursuing newer, emerging plays, as well as extensions and/or exploitation of existing resources, plays including the prolific Permian Basin and Eagle Ford.

Buy -