M&A Deal Summary

Prairie Provident Acquires Marquee Energy

On September 13, 2018, Prairie Provident acquired oil/gas exploration company Marquee Energy for 55M CAD

Acquisition Highlights
  • This is Prairie Provident’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Prairie Provident’s 0th largest (disclosed) transaction.
  • This is Prairie Provident’s 1st transaction in Canada.
  • This is Prairie Provident’s 1st transaction in Alberta.

M&A Deal Summary

Date 2018-09-13
Target Marquee Energy
Sector Oil/Gas Exploration
Buyer(s) Prairie Provident
Deal Type Add-on Acquisition
Deal Value 55M CAD
Advisor(s) GMP Securities LP (Financial)
DLA Piper (Legal)

Target

Marquee Energy

Calgary, Alberta, Canada
Marquee Energy Ltd. is a Calgary-based, junior energy company focused on light oil development and production in the Michichi area of eastern Alberta.

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Buyer(S) 1

Buyer

Prairie Provident

Calgary, Alberta, Canada

Category Company
Founded 2016
Sector Oil/Gas Exploration
Employees20
Revenue 80M CAD (2023)
DESCRIPTION

Prairie Provident is a Calgary-based company engaged in the exploration and development of oil and natural gas properties in Alberta. The Company’s strategy is to grow organically in combination with accretive acquisitions of conventional oil prospects, which can be efficiently developed. Prairie Provident’s operations are primarily focused at Wheatland and Princess in Southern Alberta targeting the Ellerslie and the Lithic Glauconite formations, along with an early stage waterflood project at Evi in the Peace River Arch. Prairie Provident protects its balance sheet through an active hedging program and manages risk by allocating capital to opportunities offering maximum shareholder returns. Prairie Provident was founded in 2016 and is based in Calgary, Alberta.


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2018) 1 of 1