M&A Deal Summary

Park Energy Services Acquires MidCon Compression

On October 31, 2018, Park Energy Services acquired energy services and equipment company MidCon Compression from Chesapeake Energy

Acquisition Highlights
  • This is Park Energy Services’ 2nd transaction in the Energy Services and Equipment sector.
  • This is Park Energy Services’ 2nd transaction in the United States.
  • This is Park Energy Services’ 2nd transaction in Oklahoma.

M&A Deal Summary
Date 2018-10-31
Target MidCon Compression
Sector Energy Services and Equipment
Buyer(s) Park Energy Services
Sellers(s) Chesapeake Energy
Deal Type Divestiture

Target

MidCon Compression

Oklahoma City,, Oklahoma, United States
MidCon Compression LLC includes 162 compression units, with a total horsepower of approximately 110,000. The majority of the units currently are being used to provide compression services to BHP Billiton Petroleum in Arkansas’ Fayetteville Shale.

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Buyer(S) 1

Buyer

Park Energy Services

Oklahoma, Oklahoma, United States
Category Company
Founded 2014
Sector Energy Services and Equipment
DESCRIPTION

Park Energy Services specializes in direct storage tank vapor recovery. Park Energy Services provider of low horsepower compressor units used in the oil and gas industry. Applications for the compressors include artificial lift and vapor recovery. The company currently operates units in NM, OK, TX and LA. Park Energy Services was founded in 2014 and is based in Oklahoma City.

DEAL STATS #
Overall 2 of 3
Sector (Energy Services and Equipment) 2 of 3
Type (Divestiture) 1 of 1
State (Oklahoma) 2 of 2
Country (United States) 2 of 3
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-02 Bray Production Services

Stigler, Oklahoma, United States

Bray Production Services LLC operators with low pressure and vapor recovery applications for chiefly, a fleet of natural gas compressors more economically suited to operators that handle fewer than 50,000 cubic feet of gas per day (50 Mcf/d).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-20 Great Texas Compression

San Antonio, Texas, United States

Great Texas Compression is focused on providing stable rental compression services. Great Texas Compression was founded in 2010 and is based in San Antonio, Texas.

Buy -

Seller(S) 1

SELLER

Chesapeake Energy

Oklahoma City, Oklahoma, United States
Category Company
Founded 1989
Sector Oil/Gas Exploration
Employees1,000
Revenue 7.8B USD (2023)
DESCRIPTION

Chesapeake Energy produces natural gas and is a major producer of oil and natural gas liquids in the U.S., with an industry-leading portfolio of high-quality unconventional assets in top onshore plays. Chesapeake Energy was incorporated in 1989 and is based in Oklahoma City.

DEAL STATS #
Overall 9 of 9
Sector (Energy Services and Equipment) 3 of 3
Type (Divestiture) 8 of 8
State (Oklahoma) 4 of 4
Country (United States) 9 of 9
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-30 WildHorse Resource Development

Houston, Texas, United States

WildHorse Resource Development Corp. s an independent oil and natural gas company focused on the acquisition, exploration, development, and production of oil, natural gas and NGL properties primarily in the Eagle Ford Shale and Austin Chalk in East Texas.

Buy $4.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 Vine Energy

Plano, Texas, United States

Vine Energy is an energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana. Vine Energy was founded in 2014 and is based in Plano, Texas.

Buy $2.2B
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