M&A Deal Summary |
|
|---|---|
| Date | 2024-05-20 |
| Target | Pinnacle Midstream |
| Sector | Oil/Gas Exploration |
| Buyer(s) | Phillips 66 |
| Sellers(s) | Energy Spectrum Capital |
| Deal Type | Add-on Acquisition |
| Deal Value | 550M USD |
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| Category | Company |
|---|---|
| Founded | 1875 |
| Sector | Energy Services and Equipment |
| Employees | 14,000 |
| Revenue | 147.4B USD (2023) |
Phillips 66 is an energy and logistics company. Its midstream segment gathers, processes, transports and markets natural gas; and transports, stores, fractionates and markets natural gas liquids (NGL) in the United States. In addition, this segment transports crude oil and other feedstocks to refineries and other locations, delivers refined and specialty products to market, and provides terminaling and storage services for crude oil and petroleum products. Its chemicals segments consists of our 50 percent equity investment in Chevron Phillips Chemical Company LLC (CPChem), which manufactures and markets petrochemicals and plastics on a worldwide basis. Its refining segment buys, sells and refines crude oil and other feedstocks at refineries in the United States and Europe. Its marketing and specialties segment purchases for resale and markets refined petroleum products (such as gasolines, distillates and aviation fuels), mainly in the United States and Europe. Phillips 66 was founded in 1875 and is based in Houston, Texas.
| DEAL STATS | # |
|---|---|
| Overall | 5 of 5 |
| Sector (Oil/Gas Exploration) | 2 of 2 |
| Type (Add-on Acquisition) | 4 of 4 |
| State (Texas) | 2 of 2 |
| Country (United States) | 4 of 4 |
| Year (2024) | 1 of 1 |
| Size (of disclosed) | 2 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-06-15 |
DCP Midstream
Denver, Colorado, United States DCP Midstream is a provider of natural gas gatherers and processors, and natural gas liquids (NGLs) producer. DCP Midstream operates in 16 states across the five largest natural gas producing regions in the United States. DCP Midstream is based in Denver, Colorado. |
Buy | $3.8B |
| Category | Private Equity Firm |
|---|---|
| Founded | 1995 |
| PE ASSETS | 4.5B USD |
| Size | Large |
| Type | Sector Focused |
Energy Spectrum Capital is a midstream private equity firm specializing in investment in buyouts and buys and build in middle-market companies. The Firm focused exclusively on the energy industry. ESC looks to make a direct investment in established companies includes oil & gas gathering and transportation systems, processing and treating facilities, storage facilities and other infrastructure facilities. ESC targets growing businesses and seeks to partner with experienced managements teams. The Firm looks to invest $50- $200 million per transaction. Energy Spectrum Capital was formed in 1995 and is based in Dallas, Texas.
| DEAL STATS | # |
|---|---|
| Overall | 42 of 42 |
| Sector (Oil/Gas Exploration) | 11 of 11 |
| Type (Add-on Acquisition) | 21 of 21 |
| State (Texas) | 23 of 23 |
| Country (United States) | 39 of 39 |
| Year (2024) | 1 of 1 |
| Size (of disclosed) | 3 of 6 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-09-01 |
Frontier Midstream Solutions V
Tulsa, Oklahoma, United States Frontier Midstream Solutions V is focused on acquiring, building and development crude oil and natural gas midstream infrastructure assets across the U.S. Frontier Midstream Solutions V is based in Tulsa, Oklahoma. |
Buy | - |
