M&A Deal Summary

Western Midstream Partners Acquires Western Gas Partners

On November 8, 2018, Western Midstream Partners acquired oil/gas exploration company Western Gas Partners from Anadarko Petroleum for 4.0B USD

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

M&A Deal Summary
Date 2018-11-08
Target Western Gas Partners
Sector Oil/Gas Exploration
Buyer(s) Western Midstream Partners
Sellers(s) Anadarko Petroleum
Deal Type Divestiture
Deal Value 4.0B USD
Advisor(s) Barclays Investment Bank
Citigroup Investment Banking (Financial)
Vinson & Elkins (Legal)

Target

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.

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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 1 of 2
Sector (Oil/Gas Exploration) 1 of 2
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-05 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.

Buy $885M

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 9 of 10
Sector (Oil/Gas Exploration) 8 of 9
Type (Divestiture) 9 of 9
State (Texas) 3 of 3
Country (United States) 7 of 7
Year (2018) 1 of 1
Size (of disclosed) 1 of 9
PREVIOUS 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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-30 Mozambique LNG

Maputo, Mozambique

Mozambique LNG is the country’s first onshore LNG development. The project includes the development of the Golfinho and Atum fields located within Offshore Area 1 and the construction of a two-trains liquefaction plant with a capacity of 12.9 million tonnes per year (Mt/y). The Area 1 contains more than 60 Tcf of gas resources, of which 18 Tcf will be developed with the first two trains. The Final Investment Decision (FID) on Mozambique LNG was announced on June 18, 2019, and the project is expected to come into production by 2024.

Sell -
Mergr

Product

Company

Legal