M&A Deal Summary

Triangle Petroleum Acquires Marathon Oil - Williston Basin Properties

On May 1, 2014, Triangle Petroleum acquired oil/gas exploration company Marathon Oil - Williston Basin Properties from Marathon Oil for 100M USD

Acquisition Highlights
  • This is Triangle Petroleum’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Triangle Petroleum’s largest (disclosed) transaction.
  • This is Triangle Petroleum’s 1st transaction in the United States.

M&A Deal Summary
Date 2014-05-01
Target Marathon Oil - Williston Basin Properties
Sector Oil/Gas Exploration
Buyer(s) Triangle Petroleum
Sellers(s) Marathon Oil
Deal Type Divestiture
Deal Value 100M USD

Target

Marathon Oil - Williston Basin Properties

United States
Marathon Oil - Williston Basin Properties consisted of approximately 41,500 net acres in Williams County, ND, Sheridan County, MT and Roosevelt County, MT with an average production rate of 1,049 Boepd for the three months ended March 31, 2014

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Buyer(S) 1

Buyer

Triangle Petroleum

Denver, Colorado, United States

website

Category Company
Founded 2003
Sector Oil/Gas Exploration
Revenue 358M USD (2016)
DESCRIPTION

Triangle Petroleum is an independent energy company focused on the exploration, development, and production of unconventional shale oil and natural gas resources in the United States. Triangle Petroleum was founded in 2003 and is based in Denver, Colorado.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-08 RockPile Energy Services

Denver, Colorado, United States

RockPile Energy Services LLC is a growth oriented oil services company providing engineered completions solutions to oil and gas exploration and production companies primarily in the Williston and Permian Basins. RockPile Energy Services was founded in 2011 and is based in Denver, Colorado.

Sell -

Seller(S) 1

SELLER

Marathon Oil

Houston, Texas, United States

website

Category Company
Founded 1886
Sector Oil/Gas Exploration
Employees1,570
Revenue 7.5B USD (2022)
DESCRIPTION
Marathon Oil's corporate headquarters in Houston, Texas.
Marathon Oil's corporate headquarters in Houston, Texas.

Marathon Oil is an international exploration and production company. Marathon has net proved reserves of more then 2 billion barrels of oil equivalent across North America, Europe and Africa. Marathon Oil was formed in 1887 and is based in Houston, Texas.

DEAL STATS #
Overall 3 of 4
Sector (Oil/Gas Exploration) 1 of 2
Type (Divestiture) 2 of 3
Country (United States) 3 of 3
Year (2014) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-09 Paloma Partners II

Houston, Texas, United States

Paloma Resources is a private oil and gas exploration and production company .

Buy $750M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-20 PayRock Energy

Oklahoma City, Oklahoma, United States

PayRock Energy LLC is an oil and natural gas company. PayRock focused on the acquisition and development of resources in the Mississippian play of Oklahoma and Kansas.

Buy $888M
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