.
MergerLinks Header Logo

Announced

Colgate Energy Partners to acquire the southern Delaware Basin assets of Occidental for $508m.

Financials

Edit Data
Transaction Value£359m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

Edit

United States

Infrastructure

Domestic

Private

Pending

oil and gas assets

Friendly

Majority

Acquisition

Single Bidder

Integrated Oil and Gas

Synopsis

Edit

Colgate Energy Partners, a privately held, independent oil and natural gas company, agreed to acquire the southern Delaware Basin assets of Occidental, an American company engaged in hydrocarbon exploration, for $508m. "The acquisition of these assets in the core of the Southern Delaware Basin is a transformational deal for Colgate that checks all of the boxes of our acquisition criteria. It is a great mix of low decline production and high rate of return locations that will immediately compete for capital with our existing portfolio. Given the proximity to our current assets, we are confident that we can leverage our ongoing operations to maximize the value of this acquisition for our investors," Will Hickey, Colgate Co-CEO.

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US