M&A Deal Summary

Whitecap Resources Acquires TimberRock Energy

On November 29, 2021, Whitecap Resources acquired oil/gas exploration company TimberRock Energy from Azimuth Capital Management

Acquisition Highlights
  • This is Whitecap Resources’ 4th transaction in the Oil/Gas Exploration sector.
  • This is Whitecap Resources’ 4th transaction in Canada.
  • This is Whitecap Resources’ 4th transaction in Alberta.

M&A Deal Summary
Date 2021-11-29
Target TimberRock Energy
Sector Oil/Gas Exploration
Buyer(s) Whitecap Resources
Sellers(s) Azimuth Capital Management
Deal Type Add-on Acquisition

Target

TimberRock Energy

Calgary, Alberta, Canada
TimberRock Energy is an oil and gas exploration company with assets and operations focused in West-Central Alberta. TimberRock Energy was founded in 2008 and is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

Whitecap Resources

Calgary, Alberta, Canada
Category Company
Founded 2009
Sector Oil/Gas Exploration
Employees542
Revenue 3.8B CAD (2023)
DESCRIPTION

Whitecap Resources is a oil-weighted company focused on providing sustainable monthly dividends to its shareholders and per share growth through a combination of accretive oil-based acquisitions and organic growth on existing and acquired assets. Whitecap Resources was incorporated in 2009 and is based in Calgary, Alberta.

DEAL STATS #
Overall 4 of 4
Sector (Oil/Gas Exploration) 4 of 4
Type (Add-on Acquisition) 3 of 3
State (Alberta) 4 of 4
Country (Canada) 4 of 4
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-01 Beaumont Energy

Calgary, Alberta, Canada

Beaumont Energy, Inc. is a provider of oil and gas exploration services.

Buy $588M

Seller(S) 1

SELLER

Azimuth Capital Management

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Azimuth Capital Management is an independent Canadian private equity firm focused on the energy sector. Azimuth makes equity investments in early stage and emerging energy companies focused on resource and infrastructure development. The Firm generally invests in Canadian companies but will consider opportunities in the US as well. Azimuth Capital Management is based in Calgary.

DEAL STATS #
Overall 14 of 14
Sector (Oil/Gas Exploration) 12 of 12
Type (Add-on Acquisition) 9 of 9
State (Alberta) 11 of 11
Country (Canada) 11 of 11
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-11 Black Swan Energy

Calgary, Alberta, Canada

Black Swan Energy is an energy company that is actively developing its significant land position in the Montney play in northeast British Columbia. Black Swan Energy was founded in 2010 and is based in Calgary, Alberta.

Sell CA$1.1B
Mergr

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