M&A Deal Summary

Targa Resources Acquires Outrigger Delaware Operating

On January 23, 2017, Targa Resources acquired energy services and equipment company Outrigger Delaware Operating from Silver Hill Energy Partners and Outrigger Energy

Acquisition Highlights
  • This is Targa Resources’ 9th transaction in the Energy Services and Equipment sector.
  • This is Targa Resources’ 9th transaction in the United States.
  • This is Targa Resources’ 2nd transaction in Delaware.

M&A Deal Summary
Date 2017-01-23
Target Outrigger Delaware Operating
Sector Energy Services and Equipment
Buyer(s) Targa Resources
Sellers(s) Silver Hill Energy Partners
Outrigger Energy
Deal Type Divestiture

Target

Outrigger Delaware Operating

Delaware, United States
Outrigger Delaware Operating LLC is a provider of midstream services to crude oil and gas providers.

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Buyer(S) 1

Buyer

Targa Resources

Houston, Texas, United States
Category Company
Founded 2005
Sector Energy Services and Equipment
Employees3,182
Revenue 16.1B USD (2023)
DESCRIPTION

Targa Resources is an independent midstream energy companies in the U.S., providing gas gathering, processing, fractionation and transportation through an extensive portfolio of integrated midstream assets. Targa Resources was founded in 2005 and is based in Houston, Texas.

DEAL STATS #
Overall 9 of 12
Sector (Energy Services and Equipment) 9 of 10
Type (Divestiture) 5 of 5
State (Delaware) 2 of 2
Country (United States) 9 of 12
Year (2017) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-23 Outrigger Midland Operating

Midland, Michigan, United States

Outrigger Midland Operating LLC is a provider of midstream services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-19 Targa Badlands

Houston, Texas, United States

Targa Badlands consists of operations and energy assets located in the Bakken and Three Forks Shale plays of the Williston Basin in North Dakota and include approximately 500 miles of crude oil gathering pipelines, 120 MBbl of operational crude oil storage capacity at the Johnsons Corner Terminal, 30 MBbl of operational crude oil storage capacity at the Alexander Terminal, 30 MBbl of operational crude oil storage at New Town and 25 MBbl of operational crude oil storage at Stanley. is a North Dakota based energy company comprising Bakken assets.

Buy -

Seller(S) 2

SELLER

Silver Hill Energy Partners

Dallas, Texas, United States
Category Company
Founded 2012
Sector Oil/Gas Exploration
DESCRIPTION

Silver Hill Energy Partners LLC is an exploration and production company, that focuses on oil and gas acquisition and development opportunities, primarily in the Permian Basin, Mid-Continent and Rocky Mountain regions.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Delaware) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
SELLER

Outrigger Energy

Denver, Colorado, United States
Category Company
Sector Energy Services and Equipment
DESCRIPTION

Outrigger Energy is a private, full service midstream energy company specializing in grass roots project development as well as strategic asset acquisitions. Outrigger Energy currently focused in liquid-rich natural gas and crude oil basins in the Rockies, West Texas, and Mid-Continent areas. Outrigger Energy is based in Denver, Colorado.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Delaware) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
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