M&A Deal Summary

Western Gas Resources Acquires Mountain Gas Resources

On January 1, 1993, Western Gas Resources acquired oil/gas exploration company Mountain Gas Resources from Metalmark Capital

Acquisition Highlights
  • This is Western Gas Resources’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Western Gas Resources’ 1st transaction in the United States.
  • This is Western Gas Resources’ 1st transaction in Wyoming.

M&A Deal Summary

Date 1993-01-01
Target Mountain Gas Resources
Sector Oil/Gas Exploration
Buyer(s) Western Gas Resources
Sellers(s) Metalmark Capital
Deal Type Add-on Acquisition

Target

Mountain Gas Resources

Rock Springs, Wyoming, United States
Mountain Gas Resources gatherer, processor, and marketer of natural gas and natural gas liquids in the Green River Basin in southwestern Wyoming.

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Buyer(S) 1

Buyer

Western Gas Resources

Denver, Colorado, United States

Category Company
Founded 1971
Sector Oil/Gas Exploration
Employees800
DESCRIPTION

Western Gas Resources CBM properties within the Powder River Basin are estimated to hold about 9 trillion cubic feet (Tcf) of original gas in place and are directly adjacent to Anadarko's assets in this developing play. Western Gas Resources also has a 10 percent average working interest in its Pinedale/Jonah joint ventures, which encompass world-class fields totaling more than 40 Tcf of original estimated gas in place. Anadarko expects that combining its properties and skill sets with Western Gas' will accelerate the development of these natural gas resources and produce strong volume growth from these properties through the end of the decade, and possibly longer, with more than 12,000 identified drilling locations in inventory.


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Wyoming) 1 of 1
Country (United States) 1 of 1
Year (1993) 1 of 1

Seller(S) 1

SELLER

Metalmark Capital

New York, New York, United States

Category Private Equity Firm
Founded 2004
PE ASSETS 8.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Metalmark Capital is an independent private equity group focused on large company transactions in a wide range of industries. Metalmark is a hands-on investment firm looking to build long-term value in its portfolio companies. Broad areas of interest include natural resources/energy, healthcare services, industrials, food, transportation, and financial services. Metalmark was established in 2004 by the former principals of Morgan Stanley Capital Partners to manage the Metalmark Capital and Morgan Stanley Capital Partners funds. Metalmark is based in New York City.


DEAL STATS #
Overall 2 of 40
Sector (Oil/Gas Exploration) 1 of 8
Type (Add-on Acquisition) 2 of 20
State (Wyoming) 1 of 1
Country (United States) 2 of 37
Year (1993) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1992-07-01 Mountain Gas Resources

Rock Springs, Wyoming, United States

Mountain Gas Resources gatherer, processor, and marketer of natural gas and natural gas liquids in the Green River Basin in southwestern Wyoming.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1993-10-01 CAT

Hamilton, Bermuda

Together with management, we created CAT Limited, a Bermuda-based property-catastrophe Reinsurance Company. In 1998, ACE Limited, a worldwide provider of excess liability insurance, purchased CAT Limited.

Buy -