M&A Deal Summary

Steel Reef Acquires Crescent Point Energy - Natural Gas Infrastructure Assets

On January 20, 2020, Steel Reef acquired infrastructure company Crescent Point Energy - Natural Gas Infrastructure Assets from Crescent Point Energy for 500M USD

Acquisition Highlights
  • This is Steel Reef’s 1st transaction in the Infrastructure sector.
  • This is Steel Reef’s largest (disclosed) transaction.
  • This is Steel Reef’s 1st transaction in Canada.
  • This is Steel Reef’s 1st transaction in Saskatchewan.

M&A Deal Summary
Date 2020-01-20
Target Crescent Point Energy - Natural Gas Infrastructure Assets
Sector Infrastructure
Buyer(s) Steel Reef
Sellers(s) Crescent Point Energy
Deal Type Divestiture
Deal Value 500M USD

Target

Crescent Point Energy - Natural Gas Infrastructure Assets

Saskatchewan, Canada
Crescent Point Energy Corp. - Natural Gas Infrastructure Assets comprises certain associated natural gas gathering, processing, and sales infrastructure assets in Saskatchewan.

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Buyer(S) 1

Buyer

Steel Reef

Calgary, Alberta, Canada
Category Company
Founded 2012
Sector Infrastructure
DESCRIPTION

Steel Reef is a privately held mid-stream company targeting strategic small and mid-sized infrastructure projects focused on Western Canadian. Steel Reef was founded in 2012 and is based in Calgary, Alberta.

DEAL STATS #
Overall 1 of 1
Sector (Infrastructure) 1 of 1
Type (Divestiture) 1 of 1
State (Saskatchewan) 1 of 1
Country (Canada) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Crescent Point Energy

Calgary, Alberta, Canada
Category Company
Sector Oil/Gas Exploration
Employees781
DESCRIPTION

Crescent Point Energy Corp. is a oil and gas producer with assets strategically focused in properties comprised of high-quality, long-life, operated light and medium crude oil and natural gas reserves in western Canada.

DEAL STATS #
Overall 1 of 1
Sector (Infrastructure) 1 of 1
Type (Divestiture) 1 of 1
State (Saskatchewan) 1 of 1
Country (Canada) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-30 Legacy Oil + Gas

Calgary, Alberta, Canada

Legacy Oil + Gas, Inc. is a light oil-weighted producer with approximately 22,000 boe/d of high-netback production, of which more than 15,000 boe/d is from conventional and unconventional plays in Crescent Point’s core southeast Saskatchewan, Manitoba and North Dakota areas.

Buy CA$1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-17 Royal Dutch Shell - Kaybob Duvernay Assets

The Hague, Netherlands

Kaybob Duvernay Assets includes 450,000 net acres in the Fox Creek (Kaybob) and Rocky Mountain House (Willesden Green) areas, along with related infrastructure, currently producing around 30,000 barrels of oil equivalent per day (boe/d) from more than 270 wells.

Buy CA$900M
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