M&A Deal Summary

Peyto Exploration & Development Acquires Repsol - Canadian upstream oil and gas business

On September 7, 2023, Peyto Exploration & Development acquired oil/gas exploration company Repsol - Canadian upstream oil and gas business from Repsol for 468M USD

Acquisition Highlights
  • This is Peyto Exploration & Development’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Peyto Exploration & Development’s largest (disclosed) transaction.
  • This is Peyto Exploration & Development’s 1st transaction in Canada.
  • This is Peyto Exploration & Development’s 1st transaction in Alberta.

M&A Deal Summary
Date 2023-09-07
Target Repsol - Canadian upstream oil and gas business
Sector Oil/Gas Exploration
Buyer(s) Peyto Exploration & Development
Sellers(s) Repsol
Deal Type Divestiture
Deal Value 468M USD

Target

Repsol - Canadian upstream oil and gas business

Calgary, Alberta, Canada
Repsol's Canadian upstream oil and gas business comprises of all the mineral rights, related facilities and infrastructure. Repsol's Canadian upstream oil and gas business is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

Peyto Exploration & Development

Calgary, Alberta, Canada
Category Company
Founded 1997
Sector Oil/Gas Exploration
Revenue 1.0B CAD (2023)
DESCRIPTION

Peyto Exploration & Development develops, and produces oil and natural gas. Peyto Exploration & Development was founded in 1997 and is based in Calgary, Alberta.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Repsol

Madrid, Spain
Category Company
Founded 1927
Sector Oil/Gas Exploration
Employees24,537
Revenue 58.9B EUR (2023)
DESCRIPTION

Repsol operates as a multi-e energy company worldwide. Its Upstream segment engages in the exploration, development, and production of crude oil and natural gas reserves, as well as develops low-carbon geological solutions. Repsol was founded in 1927 and is based in Madrid, Spain.

DEAL STATS #
Overall 4 of 4
Sector (Oil/Gas Exploration) 2 of 2
Type (Divestiture) 3 of 3
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-16 Asterion Energies

Madrid, Spain

Asterion Energies manages a portfolio of renewable projects mostly under development totaling 7,700 megawatts (MW) in Spain (84%), Italy (12%), and France (4%). Asterion Energies is based in Madrid, Spain.

Buy €560M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-09 ConnectGen

Houston, Texas, United States

ConnectGen is focused on developing renewable energy and energy storage projects to bring clean power to markets across North America. ConnectGen was formed in 2018 and is based in Houston, Texas.

Buy $768M
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