Divestiture • Oil/Gas Exploration

W&T Offshore Acquires ConocoPhillips - Oil-Weighted Producing Property

On December 12, 2019, W&T Offshore acquired oil/gas exploration company ConocoPhillips - Oil-Weighted Producing Property from ConocoPhillips for 20M USD

Acquisition Context
  • This is W&T Offshore’s 1st transaction in the Oil/Gas Exploration sector.
  • This is W&T Offshore’s largest (disclosed) transaction.
  • This is W&T Offshore’s 1st transaction in the United States.

Explore All 413 Divestiture Oil/Gas Exploration Deals - Search the Database Free


M&A Deal Summary

Date December 12, 2019
Target ConocoPhillips - Oil-Weighted Producing Property
Sector Oil/Gas Exploration
Buyer(s) W&T Offshore
Sellers(s) ConocoPhillips
Deal Type Divestiture
Deal Value 20M USD

Target Company

ConocoPhillips - Oil-Weighted Producing Property

United States
ConocoPhillips' Oil-Weighted Producing Property provides upside from additional pay sands in existing well bores and potential opportunities for future drilling.
Explore More Deals

Browse All 215,156 Deals

FILTER BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Search Free

Buyer Overview 1

Buyer

W&T Offshore

Houston, Texas, United States

Category Company
Founded 1983
Sector Oil/Gas Exploration
Employees400
Revenue 525M USD (2024)
DESCRIPTION

W&T Offshore is an independent oil and natural gas acquisition, exploitation and exploration services. W&T Offshore was founded in 1983 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 1 of 1
Sector: Oil/Gas Exploration 1 of 1
Type: Divestiture 1 of 1
Country: United States 1 of 1
Year: 2019 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-01 W&T Offshore - Permian Basin Assets

Texas, United States

W&T Offshore - Permian Basin Assets includes approximately 25,800 highly contiguous net acres in Andrews, Martin, Gaines and Dawson counties in West Texas.

Sell $376M

Seller Profile 1

SELLER

ConocoPhillips

Houston, Texas, United States

Category Company
Founded 1917
Sector Oil/Gas Exploration
Employees11,800
Revenue 54.7B USD (2024)
DESCRIPTION
Entrance to ConocoPhillips' corporate campus in Houston, Texas.
Entrance to ConocoPhillips' corporate campus in Houston, Texas.

ConocoPhillips is an integrated energy company with operations and activities across the world. ConocoPhillips was incorporated in 1917 and is based in Houston, Texas.


Deal Context for Seller #
Overall 8 of 11
Sector: Oil/Gas Exploration 4 of 7
Type: Divestiture 7 of 10
Country: United States 7 of 10
Year: 2019 1 of 1
Size (of disclosed) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-22 Brazoria Interconnector Gas Pipeline

Houston, Texas, United States

Brazoria Interconnector Gas Pipeline LLC is a 42-inch natural gas pipeline in Brazoria County, Texas, with a capacity of approximately 1.8 billion cubic feet per day. It extends 30.5 miles between Stratton Ridge on its south end to a point near Iowa Colony in northern Brazoria County.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-22 Kelt Exploration - Liquids-Rich Montney Acreage

Calgary, Alberta, Canada

Kelt Exploration Ltd.'s Liquids-Rich Montney Acreage is is 140,000 net acres in the liquids-rich Inga-Fireweed asset Montney zone.

Buy $375M