M&A Deal Summary

Resolute Energy and Navajo Nation Oil and Gas Acquire Denbury - Aneth Field

On April 11, 2012, Resolute Energy and Navajo Nation Oil and Gas acquired oil/gas exploration company Denbury - Aneth Field from Denbury for 75M USD

Acquisition Highlights
  • This is Resolute Energy’s 1st and Navajo Nation Oil and Gas’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Resolute Energy’s 2nd and Navajo Nation Oil and Gas’ largest (disclosed) transaction.
  • This is Resolute Energy’s 1st and Navajo Nation Oil and Gas’ 1st transaction in the United States.

M&A Deal Summary

Date 2012-04-11
Target Denbury - Aneth Field
Sector Oil/Gas Exploration
Buyer(s) Resolute Energy
Navajo Nation Oil and Gas
Sellers(s) Denbury
Deal Type Divestiture
Deal Value 75M USD

Target

Denbury - Aneth Field

United States
Denbury - Aneth Field comprises of around 146 oil and gas producing wells and 120 injection wells.

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Buyer(S) 2

Buyer

Resolute Energy

Denver, Colorado, United States

Category Company
Founded 2004
Sector Energy Services and Equipment
Employees226
Revenue 303M USD (2017)
DESCRIPTION

Resolute Energy Corp. is an independent oil and gas company focused on the acquisition and development of unconventional oil and gas properties in the Delaware Basin portion of the Permian Basin of west Texas. Resolute Energy was founded in 2004 and is based in Denver, Colorado.


DEAL STATS #
Overall 1 of 4
Sector (Oil/Gas Exploration) 1 of 4
Type (Divestiture) 1 of 2
Country (United States) 1 of 4
Year (2012) 1 of 3
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-03 Oil production & Acreage Texas

Howard County, Texas, United States

The Howard County assets include non-operated working interests of approximately 39%, consisting of 1,310 net acres primarily targeting the Wolfberry play. The 23 existing wells produced a net 377 Boe per day in the third quarter of 2012, approximately 64% of which was crude oil. This acreage is approximately six miles from the Company’s existing operations in Howard and Martin counties.

Buy -
Buyer

Navajo Nation Oil and Gas

St. Michaels, Arizona, United States

Category Company
Founded 1993
Sector Oil/Gas Exploration
Employees100
DESCRIPTION

Navajo Nation Oil & Gas Company (NNOGC) is a federally incorporated oil and gas company wholly owned by the Navajo Nation. NNOGC has more than 100 employees with headquarters in St. Michaels, Ariz., and operations in New Mexico, Colorado and Utah. NNOGC owns and operates oil and natural gas interests, primarily in the San Juan Basin in New Mexico and the Greater Aneth, Tohonadla and Desert Creek fields in southeast Utah. The company also operates the Running Horse Pipeline in southeast Utah and northwest New Mexico and gas stations on the Navajo Nation under the Navajo Petroleum and Chevron brands.


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Denbury

Plano, Texas, United States

Category Company
Founded 1951
Sector Oil/Gas Exploration
Revenue 1.7B USD (2022)
DESCRIPTION
Entrance to Denbury Resources' corporate headquarters in Plano, Texas.
Entrance to Denbury Resources' corporate headquarters in Plano, Texas.

Denbury is an independent energy company with operations and assets focused on Carbon Capture, Utilization, and Storage (“CCS”) and Enhanced Oil Recovery (“EOR”) in the Gulf Coast and Rocky Mountain regions. For over two decades, the Company has maintained a unique strategic focus on utilizing CO2 in its EOR operations and since 2012 has also been active in CCS through the injection of captured industrial-sourced CO2. It currently injects over four million tons of captured industrial-sourced CO2 annually, with an objective to fully offset its Scope 1, 2, and 3 CO2 emissions by 2030, primarily through increasing the amount of captured industrial-sourced CO2 used in its operations. Danbury was incorporated in 2003 and is based in Plano, Texas.


DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 2
Type (Divestiture) 1 of 2
Country (United States) 1 of 2
Year (2012) 1 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-01 Encore Acquisition

Fort Worth, Texas, United States

Encore Acquisition Company is engaged in the development of onshore North American oil and natural gas reserves. Encore has acquired high-quality assets and grown through drilling, waterflood, and tertiary projects. Encore's properties are located in the Rockies, the Mid-Continent, and the Permian Basin.

Buy $4.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-01 Thompson Field

Texas, United States

The Thompson oil field is located 2 miles south of Thompson, Fort Bend County, Texas. Thompson Field comprises oil production field that produces.

Buy $360M