Announced
Completed
Financials
Tags
United States
Domestic
Friendly
Acquisition
Private Equity
Private
Majority
oil and gas technology
Single Bidder
Integrated Oil and Gas
Completed
Synopsis
Matador Resources, an oil and gas producer, agreed to acquire Advance Energy, a team of experienced Oil and Gas technical professionals and managers, from EnCap Investments, a private equity firm, for $1.6bn. "We evaluated this transaction based on rock quality, the strong existing production and cash flow profile, the potential reserves additions, the high-quality inventory, the available midstream opportunities and the strategic fit within our existing portfolio of properties," Joseph Foran, Matador CEO.
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