M&A Deal Summary

Western Midstream Partners Acquires Meritage Midstream

On September 5, 2023, Western Midstream Partners acquired oil/gas exploration company Meritage Midstream for 885M USD

Acquisition Highlights
  • This is Western Midstream Partners’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Western Midstream Partners’ 2nd largest (disclosed) transaction.
  • This is Western Midstream Partners’ 2nd transaction in the United States.
  • This is Western Midstream Partners’ 1st transaction in Colorado.

M&A Deal Summary
Date 2023-09-05
Target Meritage Midstream
Sector Oil/Gas Exploration
Buyer(s) Western Midstream Partners
Deal Type Add-on Acquisition
Deal Value 885M USD
Advisor(s) Jefferies (Financial)
Vinson & Elkins (Legal)

Target

Meritage Midstream

Golden, Colorado, United States
Meritage Midstream is a platform midstream company focused on greenfield development opportunities and opportunistic acquisitions for the gathering, treating, and handling of natural gas and natural gas liquids in several North American basins. Meritage Midstream Services II was founded in 2012 and is based in Golden, Colorado.

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Buyer(S) 1

Buyer

Western Midstream Partners

The Woodlands, Texas, United States
Category Company
Founded 2007
Sector Oil/Gas Exploration
Employees1,377
Revenue 3.1B USD (2023)
DESCRIPTION

Western Midstream Partners is a growth-oriented Delaware master limited partnership formed to acquire, own, develop, and operate midstream energy assets. Western Midstream Partners was founded in 2007 and is based in The Woodlands, Texas.

DEAL STATS #
Overall 2 of 2
Sector (Oil/Gas Exploration) 2 of 2
Type (Add-on Acquisition) 1 of 1
State (Colorado) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-08 Western Gas Partners

The Woodlands, Texas, United States

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.

Buy $4.0B
Mergr

Product

Company

Legal