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M&A Deal Summary

Western Gas Partners Acquires Springfield Pipeline

On February 24, 2016, Western Gas Partners acquired oil/gas exploration company Springfield Pipeline from Anadarko Petroleum for 750M USD

Acquisition Highlights
  • This is Western Gas Partners’ 3rd transaction in the Oil/Gas Exploration sector.
  • This is Western Gas Partners’ 2nd largest (disclosed) transaction.
  • This is Western Gas Partners’ 3rd transaction in the United States.
  • This is Western Gas Partners’ 2nd transaction in Texas.

M&A Deal Summary
Date 2016-02-24
Target Springfield Pipeline
Sector Oil/Gas Exploration
Buyer(s) Western Gas Partners
Sellers(s) Anadarko Petroleum
Deal Type Divestiture
Deal Value 750M USD

Target

Springfield Pipeline

Houston, Texas, United States
Springfield Pipeline LLC consists of 548 miles of gas gathering lines with a capacity of 795 MMcf/d and 241 miles of oil gathering lines with a capacity of 130 MBbls/d, located in Dimmit, La Salle, Maverick and Webb Counties in South Texas.

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Buyer(S) 1

Buyer

Western Gas Partners

The Woodlands, Texas, United States
Category Company
Founded 2007
Sector Oil/Gas Exploration
Revenue 1.8B USD (2015)
DESCRIPTION

Western Gas Partners LP owns, operates, acquires and develops midstream energy assets. WES is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids and crude oil for Anadarko, as well as third-party producers and customers.

DEAL STATS #
Overall 3 of 3
Sector (Oil/Gas Exploration) 3 of 3
Type (Divestiture) 2 of 2
State (Texas) 2 of 2
Country (United States) 3 of 3
Year (2016) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-28 Nuevo Midstream

Houston, Texas, United States

Nuevo Midstream LLC is a full-service midstream company offering gathering, compression, processing, treating, transportation and marketing services to oil and gas producers in the Delaware Basin.

Buy $1.5B

Seller(S) 1

SELLER

Anadarko Petroleum

The Woodlands, Texas, United States
Category Company
Founded 1959
Sector Oil/Gas Exploration
Employees5,800
Revenue 12.9B USD (2018)
DESCRIPTION
Anadarko Petroleum's corporate headquarters in The Woodlands, Texas.
Anadarko Petroleum's corporate headquarters in The Woodlands, Texas.

Anadarko Petroleum Corp. is an independent oil and natural gas exploration and production company. Anadarko Petroleum was formed in 1959 and is based in The Woodlands, Texas.

DEAL STATS #
Overall 8 of 10
Sector (Oil/Gas Exploration) 7 of 9
Type (Divestiture) 8 of 9
State (Texas) 2 of 3
Country (United States) 6 of 7
Year (2016) 1 of 1
Size (of disclosed) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-27 Bear Head LNG

Richmond County, Nova Scotia, Canada

Bear Head LNG Corp.A 255‐acre site comprising industrial‐zoned land (180 acres) and deep‐water acreage (75acres) as well as foundations in place for two 180,000 cubic meter LNG tanks. The land hasbeen cleared, a majority of site works completed and roads constructed.The Project Rights of the previously proposed LNG import terminal, including all assets,rights and obligations associated with the Bear Head project.

Sell $11M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-12 Freeport-Mcmoran Gulf Of Mexico Assets

United States

Freeport-Mcmoran Gulf Of Mexico Assets offers oil and gas production services. GOM properties averaged approximately 73 thousand barrels of oil equivalents (MBOE).

Buy $2.0B
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