M&A Deal Summary

Vital Energy Acquires Broad Oak Energy

On June 15, 2011, Vital Energy acquired oil/gas exploration company Broad Oak Energy from Warburg Pincus for 1.0B USD

Acquisition Highlights
  • This is Vital Energy’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is Vital Energy’s largest (disclosed) transaction.
  • This is Vital Energy’s 2nd transaction in the United States.
  • This is Vital Energy’s 1st transaction in Texas.

M&A Deal Summary

Date 2011-06-15
Target Broad Oak Energy
Sector Oil/Gas Exploration
Buyer(s) Vital Energy
Sellers(s) Warburg Pincus
Deal Type Add-on Acquisition
Deal Value 1.0B USD
Advisor(s) J.P. Morgan Securities (Financial)

Target

Broad Oak Energy

Dallas, Texas, United States
Broad Oak Energy, Inc. is a start-up exploration and production company formed to focus on unconventional oil and gas plays in onshore regions of the United States.

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Buyer(S) 1

Buyer

Vital Energy

Tulsa, Oklahoma, United States

Category Company
Founded 2006
Sector Energy Services and Equipment
Employees326
Revenue 1.5B USD (2023)
DESCRIPTION

Vital Energy is an independent energy company. Laredo's business strategy is focused on the acquisition, exploration and development of oil and natural gas properties. Vital Energy was founded in 2006 and is based in Tulsa, Oklahoma.


DEAL STATS #
Overall 2 of 5
Sector (Oil/Gas Exploration) 2 of 5
Type (Add-on Acquisition) 1 of 3
State (Texas) 1 of 3
Country (United States) 2 of 5
Year (2011) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-15 Linn Energy - Verden Assets

Oklahoma, United States

Linn Energy LLC - Verden Assets is a provider of oil and gas exploration services.

Buy $185M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-21 Laredo Petroleum - Anadarko Basin Assets

Tulsa, Oklahoma, United States

Laredo Petroleum - Anadarko Basin Assets consists of approximately 104,000 net acres of leasehold and approximately 4.9 billion cubic feet of liquids-rich natural gas and approximately 49.6 thousand barrels of crude oil and condensate.

Sell $438M

Seller(S) 1

SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 60 of 251
Sector (Oil/Gas Exploration) 6 of 25
Type (Add-on Acquisition) 22 of 90
State (Texas) 7 of 25
Country (United States) 38 of 137
Year (2011) 5 of 11
Size (of disclosed) 21 of 63
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-14 Telcordia Technologies

Piscataway, New Jersey, United States

Telcordia Technologies, Inc. is a provider of telecommunications software and services for IP, wireline, wireless and cable. By delivering on its Elementive strategy of providing flexible, standards-based solutions that optimize complex network and business support systems, Telcordia enables customers to aggressively reduce costs and grow revenues.

Sell $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-20 American Medical Systems

Minnetonka, Minnesota, United States

American Medical Systems, Inc. is a manufacturer and marketer of medical devices for the surgical treatment of urological and gynecological disorders.

Sell $2.9B