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Announced

Completed

Citizen Energy completed the acquisition of Red Bluff Resources and Bricktown Energy for $151m.

Financials

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Transaction Value£123m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Completed

Majority

United States

Private

Single Bidder

Domestic

exploration assets

Integrated Oil and Gas

Friendly

Acquisition

Synopsis

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Citizen Energy, an oil and natural gas exploration company, completed the acquisition of Red Bluff Resources, an operator of a private exploration and production company, and Bricktown Energy, a private exploration and production company, $151m. The acquisition will generate a 18% increase in Citizen’s daily production and includes an additional ~13k BOEPD, 200 operated wells, and 739 non-op wells.

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