M&A Deal Summary

Vital Energy Acquires Linn Energy - Verden Assets

On August 15, 2008, Vital Energy acquired oil/gas exploration company Linn Energy - Verden Assets from LINN Energy for 185M USD

Acquisition Highlights
  • This is Vital Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Vital Energy’s 3rd largest (disclosed) transaction.
  • This is Vital Energy’s 1st transaction in the United States.
  • This is Vital Energy’s 1st transaction in Oklahoma.

M&A Deal Summary
Date 2008-08-15
Target Linn Energy - Verden Assets
Sector Oil/Gas Exploration
Buyer(s) Vital Energy
Sellers(s) LINN Energy
Deal Type Divestiture
Deal Value 185M USD

Target

Linn Energy - Verden Assets

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

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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 1 of 5
Sector (Oil/Gas Exploration) 1 of 5
Type (Divestiture) 1 of 1
State (Oklahoma) 1 of 1
Country (United States) 1 of 5
Year (2008) 1 of 1
Size (of disclosed) 3 of 4
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-15 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.

Buy $1.0B

Seller(S) 1

SELLER

LINN Energy

Houston, Texas, United States
Category Company
Founded 2003
Sector Oil/Gas Exploration
Employees1,800
Revenue 1.8B USD (2015)
DESCRIPTION
LINN Energy's corporate headquarters in Houston, Texas.
LINN Energy's corporate headquarters in Houston, Texas.

LINN Energy acquires, develops and maximizes cash flow from a portfolio of oil and natural gas assets. LINN Energy is an independent oil and natural gas company with properties located in the United States. LINN's portfolio includes assets in the Hugoton Basin, the Rockies, California, east Texas and north Louisiana, the Mid-Continent, Michigan/Illinois, the Permian Basin, and south Texas. LINN Energy was formed in 2003 and is based in Houston, Texas. On May 11, 2016, LINN Energy filed for bankruptcy.

DEAL STATS #
Overall 2 of 4
Sector (Oil/Gas Exploration) 2 of 4
Type (Divestiture) 2 of 4
State (Oklahoma) 1 of 1
Country (United States) 2 of 4
Year (2008) 2 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-01 Linn Energy - Appalachian Properties

Texas, United States

Linn Energy LLC - Appalachian Properties includes oil and gas properties.

Sell $600M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-21 Berry Petroleum Company

Houston, Texas, United States

Berry Petroleum Company LLC is an independent oil and natural gas production and exploitation company with operations in California, Texas, Utah, and Colorado.

Buy $4.3B
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