M&A Deal Summary

Newfield Exploration Acquires Stone Energy s Rocky Mountain Assets

On June 29, 2007, Newfield Exploration acquired energy services and equipment company Stone Energy s Rocky Mountain Assets from Stone Energy for 578M USD

Acquisition Highlights
  • This is Newfield Exploration’s 1st transaction in the Energy Services and Equipment sector.
  • This is Newfield Exploration’s 2nd largest (disclosed) transaction.
  • This is Newfield Exploration’s 3rd transaction in the United States.

M&A Deal Summary
Date 2007-06-29
Target Stone Energy s Rocky Mountain Assets
Sector Energy Services and Equipment
Buyer(s) Newfield Exploration
Sellers(s) Stone Energy
Deal Type Divestiture
Deal Value 578M USD

Target

Stone Energy s Rocky Mountain Assets

United States
The Rocky Mountain acquisition will add proved reserves of approximately 200 Bcfe, probable and possible reserves of more than 150 Bcfe and nearly 600,000 net acres. Newfield now has operations in the Green River Basin in the prolific Pinedale and Jonah Fields (Wyoming), the Williston Basin (Montana and North Dakota), the Powder River Basin (Wyoming), the Northern Denver-Julesburg Basin (Wyoming) and an additional 51% interest in the deep rights below Newfield's Monument Butte Field in the Uinta Basin (Utah).

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Buyer(S) 1

Buyer

Newfield Exploration

The Woodlands, Texas, United States
Category Company
Founded 1988
Sector Oil/Gas Exploration
Employees1,111
Revenue 1.6B USD (2015)
DESCRIPTION

Newfield Exploration Co. is an independent energy company. Newfield is engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. The Company relies on a proven strategy of growing reserves through an active drilling program and select acquisitions. Newfield’s principal domestic areas of operation include the Mid-Continent, the Rocky Mountains and onshore Texas.

DEAL STATS #
Overall 3 of 3
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 3 of 3
Year (2007) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-27 Inland Resources

Denver, Colorado, United States

Inland Resources is a privately held company based in Denver, Colorado. Inland's major asset is the 110,000-acre Monument Butte Field, located in the Uinta Basin of Northeast Utah. Inland operates the Monument Butte Field and has an average working interest of about 80%. Newfield estimates that the giant Monument Butte Field has oil in place of more than two billion barrels.

Buy $575M

Seller(S) 1

SELLER

Stone Energy

Lafayette, Louisiana, United States
Category Company
Founded 1993
Sector Oil/Gas Exploration
Employees384
Revenue 544M USD (2015)
DESCRIPTION

Stone Energy Corp. is an oil and natural gas exploration and production company headquartered in Lafayette, Louisiana with additional offices in New Orleans, Houston, Texas and Morgantown, West Virginia. Stone is engaged in the acquisition, exploration, and development of properties in the Deep Water Gulf of Mexico, Appalachia and the onshore and offshore Gulf Coast.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-30 Bois d Arc Energy

Houston, Texas, United States

Bois d'Arc Energy is an independent exploration company engaged in the discovery and production of oil and natural gas in the Gulf of Mexico.

Buy $1.8B
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