M&A Deal Summary

Centrica and Qatar Petroleum International Acquire CQ Energy Canada Partnership

On April 15, 2013, Centrica and Qatar Petroleum International acquired oil/gas exploration company CQ Energy Canada Partnership from Suncor for 1.0B CAD

Acquisition Highlights
  • This is Centrica’s 5th and Qatar Petroleum International’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Centrica’s and Qatar Petroleum International’s largest (disclosed) transaction.
  • This is Centrica’s 2nd and Qatar Petroleum International’s 1st transaction in Canada.

M&A Deal Summary

Date 2013-04-15
Target CQ Energy Canada Partnership
Sector Oil/Gas Exploration
Buyer(s) Centrica
Qatar Petroleum International
Sellers(s) Suncor
Deal Type Divestiture
Deal Value 1.0B CAD

Target

CQ Energy Canada Partnership

Canada
CQ Energy Canada Partnership (CQE), the joint venture between Centrica plc and Qatar Petroleum International (“QPI”),

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Buyer(S) 2

Buyer

Centrica

Windsor, United Kingdom

Category Company
Founded 1812
Sector Utilities
Employees21,432
Revenue 26.5B GBP (2023)
DESCRIPTION

Centrica is a utility company that serves customers in the UK, North America, and Norway. Centrica aims to meet our customers’ energy needs and deliver long-term value to our shareholders. Centrica was founded in 1812 and is headquartered in Windsor, England.


DEAL STATS #
Overall 12 of 21
Sector (Oil/Gas Exploration) 5 of 5
Type (Divestiture) 4 of 5
Country (Canada) 2 of 2
Year (2013) 1 of 1
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-30 ConocoPhillips - North Sea Statfjord Oil & Gas Properties

United Kingdom

ConocoPhillips' North Sea Statfjord Oil & Gas Properties, which are located across both the Norwegian and UK sectors of the Northern North Sea, produce gas for the UK market.

Buy $223M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-21 Neas Energy A/S

Aalborg, Denmark

Neas Energy A/S is a provider of energy management and revenue optimisation services form decentralised third-party owned assets. Neas Energy was formed in 1997 and is based in Aalborg, Denmark.

Buy kr.1.6B
Buyer

Qatar Petroleum International

Doha, Qatar

Category Company
Founded 1974
Sector Oil/Gas Exploration
DESCRIPTION

Qatar Petroleum (QP), a state-owned corporation established in 1974, is responsible for all phases of the oil and gas industry in Qatar. The principal activities of Qatar Petroleum and its subsidiaries and joint ventures cover exploration, drilling and production operations, transport, storage, marketing and sale of crude oil, natural gas liquids, liquefied natural gas, gas-to-liquids, refined products, petrochemicals and fertilizers, and helicopter and financial services.


DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
Country (Canada) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-08 Qatar Fertiliser Company

Doha, Qatar

Qatar Fertiliser Company (QAFCO) is a world-class fertilizer producer. QAFCO country's first large-scale venture in the petrochemical sector, QAFCO was established to diversify the economy and utilize the nation's enormous gas reserve. QAFCO is currently owned 75% by Industries Qatar (IQ) and 25% by Yara Netherland.

Buy -

Seller(S) 1

SELLER

Suncor

Calgary, Alberta, Canada

Category Company
Founded 1917
Sector Energy Services and Equipment
Employees14,906
Revenue 52.2B CAD (2023)
DESCRIPTION

Suncor is an integrated energy company. Suncor's operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, and product marketing under the petro-canada brand. Suncor was incorporated in 1917 and is based in Calgary, Alberta.


DEAL STATS #
Overall 2 of 4
Sector (Oil/Gas Exploration) 2 of 3
Type (Divestiture) 2 of 4
Country (Canada) 1 of 2
Year (2013) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-25 Suncor Energy - Trinidad and Tobago Portfolio of Gas Assets

Trinidad and Tobago

Suncor Energy - Trinidad and Tobago Portfolio of Gas Assets comprises a 17.3 per cent stake in the North Coast Marine Area (NCMA-1) gas production area and equity interests in three blocks; Blocks 22, 1(a) and 1(b), for future development. The NCMA-1 block currently supplies gas into the Atlantic LNG (ALNG) facility, and holds remaining working interests of 266 billion cubic feet (bcf) of proven and probable (2P) reserves attributable to Centrica's 17.3 per cent stake.

Sell $380M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-18 Canadian Oil Sands

Calgary, Alberta, Canada

Canadian Oil Sands Ltd. is an owns and operator of oil sands mining projects.

Buy $6.6B