M&A Deal Summary

Venado Oil & Gas Acquires Texas American Resources Co.

On June 1, 2018, Venado Oil & Gas acquired oil/gas exploration company Texas American Resources Co. from First Reserve

Acquisition Highlights
  • This is Venado Oil & Gas’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Venado Oil & Gas’ 2nd transaction in the United States.
  • This is Venado Oil & Gas’ 2nd transaction in Texas.

M&A Deal Summary

Date 2018-06-01
Target Texas American Resources Co.
Sector Oil/Gas Exploration
Buyer(s) Venado Oil & Gas
Sellers(s) First Reserve
Deal Type Add-on Acquisition
Advisor(s) BMO Capital Markets (Financial)

Target

Texas American Resources Co.

Austin, Texas, United States
Texas American Resources Company is a privately held, independent oil & gas exploration & production company owns, manages, and operates producing and developable Eagle Ford and Austin Chalk assets in South Texas. As a multi-disciplined team specializing in geology, engineering, finance, and land, TARC uses a subsurface driven approach, utilizing the latest technology to maximize the recovery of hydrocarbons in an efficient and a responsible manner. Company headquartered in Austin, Texas and founded in 1990.

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Buyer(S) 1

Buyer

Venado Oil & Gas

Austin, Texas, United States

Category Company
Founded 2011
Sector Oil/Gas Exploration
DESCRIPTION

Venado Oil & Gas is a privately-held energy company focused on leasing and drilling oil and natural gas properties located in the Gulf Coast and Permian regions of Texas.


DEAL STATS #
Overall 2 of 2
Sector: Oil/Gas Exploration M&A 2 of 2
Type: Add-on Acquisition M&A Deals 1 of 1
State: Texas M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-19 Cabot Oil & Gas - Cabot Eagle Ford Assets

Houston, Texas, United States

Cabot Oil & Gas Corp. - Cabot Eagle Ford Assets include approximately 303 gross/203 net wells and 74,400 net acres situated primarily in the Eagle Ford oil window of South Texas (Atascosa, Frio, and LaSalle counties).

Buy $765M

Seller(S) 1

SELLER

First Reserve

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 32.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

First Reserve is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 44 of 59
Sector: Oil/Gas Exploration M&A 11 of 16
Type: Add-on Acquisition M&A Deals 17 of 20
State: Texas M&A 14 of 21
Country: United States M&A 27 of 39
Year: 2018 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-18 M Group Services

Stevenage, United Kingdom

M Group Services is a service provider to the regulated infrastructure markets in the UK and Ireland through its utilities, transport, telecom, and data divisions. The Company operates through its subsidiaries that include Morrison Utility Services, Morrison Data Services, Dyer & Butler, Magdalene, PMP Utilities and M Group Services Plant & Fleet Solutions. M Group Services was formed in 1847 and is based in Hertfordshire, England.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-18 Dresser Utility Solutions

Houston, Texas, United States

Dresser Utility Solutions is a global original equipment manufacturer of commercial and industrial natural gas meters and pipeline repair products. Dresser Utility Solutions has highly accurate, scalable manufacturing capabilities for proprietary dresser products including natural gas meters and instruments and gas pipeline solutions, as well as additional manufacturing of chemical injection pumps and electric actuators. Dresser Utility Solutions was founded in 1880 and is based in Houston, Texas.

Buy -