M&A Deal Summary

Oak Ridge Natural Resources Acquires QEP Resources - Pinedale Assets

On July 24, 2017, Oak Ridge Natural Resources acquired oil/gas exploration company QEP Resources - Pinedale Assets from QEP Resources for 740M USD

Acquisition Highlights
  • This is Oak Ridge Natural Resources’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Oak Ridge Natural Resources’ largest (disclosed) transaction.
  • This is Oak Ridge Natural Resources’ 1st transaction in the United States.
  • This is Oak Ridge Natural Resources’ 1st transaction in Colorado.

M&A Deal Summary
Date 2017-07-24
Target QEP Resources - Pinedale Assets
Sector Oil/Gas Exploration
Buyer(s) Oak Ridge Natural Resources
Sellers(s) QEP Resources
Deal Type Divestiture
Deal Value 740M USD

Target

QEP Resources - Pinedale Assets

Denver, Colorado, United States
QEP Resources, Inc. - Pinedale Assets generates 234 MMcfed of net production from over 1,100 producing wells during the first quarter of 2017 and include an extensive inventory of low-risk vertical drilling locations. The assets also include significant acreage prospective in the emerging horizontal Lance and deep Hilliard plays.

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Buyer(S) 1

Buyer

Oak Ridge Natural Resources

Tulsa, Oklahoma, United States
Category Company
Founded 2015
Sector Oil/Gas Exploration
DESCRIPTION

Oak Ridge Natural Resources is a private exploration and production company. Oak Ridge Natural Resources was founded in 2015 and is based in Tulsa, Oklahoma.

DEAL STATS #
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 (2017) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

QEP Resources

Denver, Colorado, United States
Category Company
Founded 2010
Sector Oil/Gas Exploration
Employees248
Revenue 1.2B USD (2019)
DESCRIPTION

QEP Resources, Inc. is an independent crude oil and natural gas exploration and production company focused in two regions of the United States: the Southern Region (primarily in Texas) and the Northern Region (primarily in North Dakota). QEP Resources was founded in 2010 and is based in Denver, Colorado.

DEAL STATS #
Overall 2 of 3
Sector (Oil/Gas Exploration) 2 of 3
Type (Divestiture) 2 of 3
State (Colorado) 1 of 2
Country (United States) 2 of 3
Year (2017) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-02 QEP Field Services

Salt Lake City, Utah, United States

QEP Field Services Co. provides natural gas gathering, processing, treating, and transportation services.

Sell $2.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-19 QEP Resources - Northwest Louisiana Natural Gas Assets

Denver, Colorado, United States

QEP Resources, Inc.'s Northwest Louisiana Natural Gas Assets comprises natural gas and oil-producing properties, undeveloped acreage and associated gas gathering and treating systems in the Haynesville/Cotton Valley. QEP Resources, Inc.'s Northwest Louisiana Natural Gas Assets is based in Denver, Colorado.

Sell $735M
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