M&A Deal Summary

Meritage Midstream Acquires Thunder Creek Gas Services

On August 19, 2013, Meritage Midstream acquired oil/gas exploration company Thunder Creek Gas Services from Devon Energy and PVR Partners

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

M&A Deal Summary
Date 2013-08-19
Target Thunder Creek Gas Services
Sector Oil/Gas Exploration
Buyer(s) Meritage Midstream
Sellers(s) Devon Energy
PVR Partners
Deal Type Divestiture

Target

Thunder Creek Gas Services

Gillette, Wyoming, United States
Thunder Creek Gas Services LLC is an operator of natural gas gathering, treating and processing assets in Wyoming’s Powder River Basin, including more than 500 miles of high- and low-pressure gas gathering pipelines, three natural gas treating facilities, compression and gas processing facilities, and various NGL and condensate handling facilities.

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Buyer(S) 1

Buyer

Meritage Midstream

Golden, Colorado, United States
Category Company
Founded 2012
Sector Oil/Gas Exploration
DESCRIPTION

Meritage Midstream is a platform midstream company focused on greenfield development opportunities and opportunistic acquisitions for the gathering, treating, and handling of natural gas and natural gas liquids in several North American basins. Meritage Midstream Services II was founded in 2012 and is based in Golden, Colorado.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Wyoming) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1

Seller(S) 2

SELLER

Devon Energy

Oklahoma City, Oklahoma, United States
Category Company
Founded 1971
Sector Oil/Gas Exploration
Employees1,800
Revenue 15.3B USD (2023)
DESCRIPTION

Devon Energy a U.S. based independent natural gas and oil producers. The company's operations are focused on North American onshore exploration and production. Devon Energy was founded in 1971 and is based in Oklahoma City.

DEAL STATS #
Overall 7 of 11
Sector (Oil/Gas Exploration) 6 of 10
Type (Divestiture) 6 of 10
State (Wyoming) 1 of 1
Country (United States) 4 of 8
Year (2013) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-18 Block 15/34

China

Block 15/34 comprises oil exploration and production property. Currently gross production from the block is 49,000 barrels of oil per day.

Sell $515M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-20 Eagle Ford Shale

Texas, United States

Eagle Ford shale in South Central Texas. Since the formation of the partnership, GeoSouthern has made tremendous progress in developing its position in the eastern window of the Eagle Ford shale, an area that has since become known as the core of the play.

Buy -
SELLER

PVR Partners

Radnor, Pennsylvania, United States
Category Company
Sector Oil/Gas Exploration
DESCRIPTION

PVR Partners LP is a provider of oil and gas exploration services.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Wyoming) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
Mergr

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