M&A Deal Summary

Noble Energy Acquires Patina Oil & Gas

On May 16, 2005, Noble Energy acquired energy services and equipment company Patina Oil & Gas from CCMP Capital for 3.4B USD

Acquisition Highlights
  • This is Noble Energy’s 1st transaction in the Energy Services and Equipment sector.
  • This is Noble Energy’s largest (disclosed) transaction.
  • This is Noble Energy’s 1st transaction in the United States.
  • This is Noble Energy’s 1st transaction in Colorado.

M&A Deal Summary

Date 2005-05-16
Target Patina Oil & Gas
Sector Energy Services and Equipment
Buyer(s) Noble Energy
Sellers(s) CCMP Capital
Deal Type Merger
Deal Value 3.4B USD
Advisor(s) Petrie Partners LLC (Financial)
Cravath, Swaine & Moore (Legal)

Target

Patina Oil & Gas

Denver, Colorado, United States
Patina Oil & Gas Corporation is an independent energy company engaged in the production, development, exploitation and acquisition of oil and natural gas properties, principally in the Wattenberg Field of Colorado's Denver-Julesburg Basin.

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Buyer(S) 1

Buyer

Noble Energy

Houston, Texas, United States

Category Company
Founded 1932
Sector Oil/Gas Exploration
Revenue 4.4B USD (2019)
DESCRIPTION
Entrance to Noble Energy's corporate headquarters in Houston, Texas.
Entrance to Noble Energy's corporate headquarters in Houston, Texas.

Noble Energy is an independent oil and natural gas exploration and production company committed to meeting the world’s growing energy needs and delivering leading returns to shareholders. The Company operates a high-quality portfolio of assets onshore in the United States and offshore in the Eastern Mediterranean and off the west coast of Africa. Founded more than 85 years ago, Noble Energy is guided by its values, its commitment to safety, and respect for stakeholders, communities and the environment. Noble Energy was formed in 1932 and is based in Houston, Texas.


DEAL STATS #
Overall 1 of 4
Sector (Energy Services and Equipment) 1 of 1
Type (Merger) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 4
Year (2005) 1 of 1
Size (of disclosed) 1 of 4
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-06 U.S. Exploration Holdings

Billings, Montana, United States

U.S. Exploration Holdings, Inc. is an oil and gas producing company with operations focused on developing natural gas reserves in the Denver-Julesburg basin of Colorado.

Buy $411M

Seller(S) 1

SELLER

CCMP Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CCMP Capital is a large private equity firm focused on buyout and growth equity valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase. The Firm is based in New York City.


DEAL STATS #
Overall 19 of 78
Sector (Energy Services and Equipment) 2 of 4
Type (Merger) 1 of 1
State (Colorado) 2 of 7
Country (United States) 17 of 61
Year (2005) 2 of 6
Size (of disclosed) 3 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-02 Cornerstone Brands

West Chester, Ohio, United States

Cornerstone Brands is a family of leading catalog companies for the home, leisure and casual apparel, including: Ballard Designs, Frontgate, Garnet Hill, Improvements, Smith+Noble, The Territory Ahead and TravelSmith Outfitters.

Sell $720M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-23 NOWACO A/S

Aalborg, Denmark

Nowaco Central Europe, is a distributor of chilled and frozen food in the Czech Republic, Slovakia, and Hungary to the HoReCa (Hotel, Restaurant, Catering) and retail sectors.

Buy -