Add-on Acquisition • Oil/Gas Exploration

Paloma Resources Acquires Goodrich Petroleum

On December 1, 2021, Paloma Resources acquired oil/gas exploration company Goodrich Petroleum from EnCap Investments

Acquisition Context
  • This is Paloma Resources’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Paloma Resources’ 1st transaction in the United States.
  • This is Paloma Resources’ 1st transaction in Texas.

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M&A Deal Summary

Date December 1, 2021
Target Goodrich Petroleum
Sector Oil/Gas Exploration
Buyer(s) Paloma Resources
Sellers(s) EnCap Investments
Deal Type Add-on Acquisition

Target Company

Goodrich Petroleum

Houston, Texas, United States
Goodrich Petroleum is an independent exploration and production company engaged in the exploitation, development and production of natural gas. Goodrich Petroleum was founded in 1995 and is based in Houston, Texas.
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Buyer Overview 1

Buyer

Paloma Resources

Houston, Texas, United States

Category Company
Founded 2004
Sector Oil/Gas Exploration
DESCRIPTION

Paloma Resources is a private oil and gas exploration and production company founded in 2004 and headquartered in Houston, Texas. Backed by the financial strength of Encap Investments and Macquarie Americas, Paloma Resources has established an extensive track record of creating significant value for its stakeholders.


Deal Context for Buyer #
Overall 1 of 1
Sector: Oil/Gas Exploration 1 of 1
Type: Add-on Acquisition 1 of 1
State: Texas 1 of 1
Country: United States 1 of 1
Year: 2021 1 of 1

Seller Profile 1

SELLER

EnCap Investments

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1988
PE ASSETS 47.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

EnCap Investments is a private equity firm focused on the US energy sector. EnCap specifically looks for upstream and midstream opportunities within the oil and gas industry. EnCap generally partners with seasoned management when pursuing investments. EnCap Investments has offices in Dallas and Houston.


Deal Context for Seller #
Overall 47 of 60
Sector: Oil/Gas Exploration 46 of 56
Type: Add-on Acquisition 28 of 38
State: Texas 35 of 45
Country: United States 46 of 59
Year: 2021 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 Goodrich Petroleum

Houston, Texas, United States

Goodrich Petroleum is an independent exploration and production company engaged in the exploitation, development and production of natural gas. Goodrich Petroleum was founded in 1995 and is based in Houston, Texas.

Buy $480M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Tumbleweed Royalty IV

Fort Worth, Texas, United States

Tumbleweed Royalty IV is a company focused on mineral, royalty and overriding royalty acquisitions in the Permian Basin. Tumbleweed Royalty IV is based in Fort Worth, Texas.

Buy -