M&A Deal Summary

Sabinal Energy Acquires Chevron - Central Basin Platform

On September 12, 2017, Sabinal Energy acquired oil/gas exploration company Chevron - Central Basin Platform from Chevron

Acquisition Highlights
  • This is Sabinal Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Sabinal Energy’s 1st transaction in the United States.
  • This is Sabinal Energy’s 1st transaction in California.

M&A Deal Summary
Date 2017-09-12
Target Chevron - Central Basin Platform
Sector Oil/Gas Exploration
Buyer(s) Sabinal Energy
Sellers(s) Chevron
Deal Type Divestiture

Target

Chevron - Central Basin Platform

San Ramon, California, United States
Chevron Corp. - Central Basin Platform and Northern Shelf of West Texas. The acquired assets produce approximately 7,500 barrels of oil equivalent per day across a roughly 66,500 net acre position in Hockley, Terry and Gaines Counties.

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Buyer(S) 1

Buyer

Sabinal Energy

The Woodlands, Texas, United States
Category Company
Sector Oil/Gas Exploration
DESCRIPTION

Sabinal Energy is an independent oil and natural gas company. Sabinal is a private exploration and production company formed to pursue the acquisition and development of large, long-life producing oil and gas assets primarily in the Rockies, Mid-Continent and Texas where members of management have extensive operational and development experience. Sabinal Energy is based in The Woodlands, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1

Seller(S) 1

SELLER

Chevron

San Ramon, California, United States
Category Company
Founded 1879
Sector Oil/Gas Exploration
Employees45,600
Revenue 196.9B USD (2023)
DESCRIPTION
Chevron office in downtown Houston, Texas.
Chevron office in downtown Houston, Texas.

Chevron is a fully integrated energy company. Its business includes petroleum operations, chemicals, mining operations, power generation and energy services. Chevron's exploration and production operations consists of exploration, development and production of crude oil and natural gas. Chevron was incorporated in 1879 and is based in San Ramon, California.

DEAL STATS #
Overall 13 of 14
Sector (Oil/Gas Exploration) 9 of 10
Type (Divestiture) 12 of 13
State (California) 3 of 3
Country (United States) 11 of 12
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-01 Chevron - Bay Marchand and Main Pass Gulf of Mexico

Louisiana, United States

Chevron Corp.'s Bay Marchand and Main Pass Gulf of Mexico assets produce oil and gas from 58 structures with approximately 160 active wells. Chevron Corp.'s Bay Marchand and Main Pass Gulf of Mexico is based in Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-20 Noble Energy

Houston, Texas, United States

Noble Energy is an independent oil and natural gas exploration and production company committed to meeting the world’s growing energy needs and delivering leading returns to shareholders. The Company operates a high-quality portfolio of assets onshore in the United States and offshore in the Eastern Mediterranean and off the west coast of Africa. Founded more than 85 years ago, Noble Energy is guided by its values, its commitment to safety, and respect for stakeholders, communities and the environment. Noble Energy was formed in 1932 and is based in Houston, Texas.

Buy $13.0B
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