Divestiture • Energy Services and Equipment

Oro Negro Acquires TODCO Mexico

On August 20, 2012, Oro Negro acquired energy services and equipment company TODCO Mexico from Hercules Offshore

Acquisition Context
  • This is Oro Negro’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Oro Negro’s 1st transaction in the United States.
  • This is Oro Negro’s 1st transaction in Texas.

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M&A Deal Summary

Date August 20, 2012
Target TODCO Mexico
Sector Energy Services and Equipment
Buyer(s) Oro Negro
Sellers(s) Hercules Offshore
Deal Type Divestiture

Target Company

TODCO Mexico

Houston, Texas, United States
TODCO Mexico Inc. offers a range of services to oil and gas producers.
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Buyer Overview 1

Buyer

Oro Negro

Mexico City, Mexico

Category Company
Founded 2012
Sector Energy Services and Equipment
DESCRIPTION

Oro Negro is an integrated and diversified oil & gas services company. Oro Negro was founded in 2012 and is based in Mexico City, Mexico.


Deal Context for Buyer #
Overall 2 of 2
Sector: Energy Services and Equipment 2 of 2
Type: Divestiture 2 of 2
State: Texas 1 of 1
Country: United States 1 of 1
Year: 2012 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-20 Servicios TODCO S. De R.L. de C.V.

Mexico

Servicios TODCO S. De R.L. de C.V. is a provider of personnel services to oil rigs.

Buy -

Seller Profile 1

SELLER

Hercules Offshore

Houston, Texas, United States

Category Company
Founded 2004
Sector Energy Services and Equipment
Employees1,800
Revenue 900M USD (2014)
DESCRIPTION

Hercules Offshore, Inc. is a provider of offshore contract drilling, liftboat and inland barge services with operations in nine countries on four continents. Its fleet of jackup rigs is the fourth largest in the world and the largest in the U.S. Gulf of Mexico, and it owns and operates the largest liftboat and inland barge drilling fleets in the world.


Deal Context for Seller #
Overall 2 of 3
Sector: Energy Services and Equipment 2 of 3
Type: Divestiture 2 of 3
State: Texas 1 of 1
Country: United States 1 of 2
Year: 2012 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-20 Servicios TODCO S. De R.L. de C.V.

Mexico

Servicios TODCO S. De R.L. de C.V. is a provider of personnel services to oil rigs.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-27 Liftboat Titan 2

Limbe, Cameroon

Liftboat Titan 2 is a 280 foot class vessel, registered and flagged in Panama, and currently located in Limbe, Cameroon.

Buy $42M