M&A Deal Summary

Petrolia Energy Acquires Twin Lakes San Andres Unit

On April 26, 2017, Petrolia Energy acquired oil/gas exploration company Twin Lakes San Andres Unit

Acquisition Highlights
  • This is Petrolia Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Petrolia Energy’s 2nd transaction in the United States.
  • This is Petrolia Energy’s 1st transaction in New Mexico.

M&A Deal Summary
Date 2017-04-26
Target Twin Lakes San Andres Unit
Sector Oil/Gas Exploration
Buyer(s) Petrolia Energy
Deal Type Add-on Acquisition

Target

Twin Lakes San Andres Unit

Chaves County, New Mexico, United States
Twin Lakes San Andres Unit approximately 75,000 square miles, stretching across West Texas and Southeastern New Mexico. The greater Permian is made up of several smaller basins, the largest being the oil-rich Midland basin. With our acquisition of various position’s in the Twin Lakes San Andres Unit, close to Roswell, NM, we have added to our portfolio a premier land position in Northern Shelf of the Permian Basin of New Mexico. With over 30 billion barrels of cumulative oil production, the Permian is a proven oil-rich resource play with multiple stacked horizontal targets. Petrolia Energy, along with many others, believe that the Permian’s unconventional production potential will exceed the Eagle Ford and the Bakken combined.

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Buyer(S) 1

Buyer

Petrolia Energy

Houston, Texas, United States
Category Company
Founded 2002
Sector Oil/Gas Exploration
Employees6
Revenue 7M USD (2022)
DESCRIPTION

Petrolia Energy is an oil exploration and production company. With operations in Texas, Oklahoma and New Mexico, the Company focuses on redeveloping existing oil fields in well-established oil rich regions, employing industry-leading technologies to create added value. Petrolia Energy was founded in 2002 and is based in Houston, Texas.

DEAL STATS #
Overall 2 of 3
Sector (Oil/Gas Exploration) 1 of 2
Type (Add-on Acquisition) 2 of 3
State (New Mexico) 1 of 1
Country (United States) 2 of 2
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-09 Askarii Resources

Austin, Texas, United States

Askarii Resources LLC is a private Oil and Gas Service Company that was established in the wake of Hurricane Ike in 2008. Though dormant over the last few years, the company has significant history with major oil companies, providing services to both onshore and offshore oil and gas producers. It has developed a reputation of providing quality work amongst the various regulatory agencies in the Southwest United States and focuses on oil field remediation, both onshore and offshore, and regulator compliance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-26 Bow Energy

Calgary, Alberta, Canada

Bow Energy Ltd. is a Canada-based oil and natural gas company holds over 948,000 net acres onshore North Sumatra, Indonesia which is one of the world's most prolific oil and gas basins. Bow owns interests in five production-sharing contracts (PSCs) and one Joint Study Agreement (JSA). The assets are close to existing infrastructure and the city of Medan which is the largest city in North Sumatra.

Buy -
Mergr

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