Divestiture • Oil/Gas Exploration

Northwoods Energy Acquires SM Energy Co. - Core Powder River Basin Assets

On January 10, 2018, Northwoods Energy acquired oil/gas exploration company SM Energy Co. - Core Powder River Basin Assets from SM Energy

Acquisition Context
  • This is Northwoods Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Northwoods Energy’s 1st transaction in the United States.
  • This is Northwoods Energy’s 1st transaction in Colorado.

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M&A Deal Summary

Date January 10, 2018
Target SM Energy Co. - Core Powder River Basin Assets
Sector Oil/Gas Exploration
Buyer(s) Northwoods Energy
Sellers(s) SM Energy
Deal Type Divestiture

Target Company

SM Energy Co. - Core Powder River Basin Assets

Denver, Colorado, United States
SM Energy Co. - Core Powder River Basin Assets comprises of over 112,200 predominantly contiguous net acres of leasehold in Converse, Campbell, and Johnson counties in Wyoming.
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Buyer Overview 1

Buyer

Northwoods Energy

Denver, Colorado, United States

Category Company
Sector Oil/Gas Exploration
DESCRIPTION

Northwoods Energy is an upstream oil & gas company specializing in purchasing older, neglected wells and leases. Northwood looks carefully at the geologic potential of each marginal well and develops a plan to maximize energy production while reusing and recycling raw materials from the existing well. Northwoods Energy is based in Denver, Colorado.


Deal Context for Buyer #
Overall 1 of 1
Sector: Oil/Gas Exploration 1 of 1
Type: Divestiture 1 of 1
State: Colorado 1 of 1
Country: United States 1 of 1
Year: 2018 1 of 1

Seller Profile 1

SELLER

SM Energy

Denver, Colorado, United States

Category Company
Founded 1908
Sector Oil/Gas Exploration
Employees663
Revenue 2.7B USD (2024)
DESCRIPTION

SM Energy is a provider of oil and gas exploration services across North America. SM Energy was founded in 1908 and is based in Denver, Colorado.


Deal Context for Seller #
Overall 3 of 3
Sector: Oil/Gas Exploration 1 of 1
Type: Divestiture 3 of 3
State: Colorado 2 of 2
Country: United States 3 of 3
Year: 2018 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-08 Rock Oil Holdings

Denver, Colorado, United States

Rock Oil Holdings LLC is a developer oil and gas reserves in the Eagle Ford Shale trend in south Texas.

Buy $980M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-27 XCL Resources

Houston, Texas, United States

XCL Resources is a private oil and gas company focused on maximizing risk-adjusted returns on assets that require efficient development. XCL Resources is based in Houston, Texas.

Buy $2.6B