ExxonMobil acquires XTO Energy for $41bn
Exxon Mobil Corporation acquired oil and natural gas company XTO Energy for $41bn in June 2010. The purchase consideration includes $31bn of Exxon Mobil’s common stock and the assumption of $10bn of XTO’s existing debt.
XTO’s resource base includes shale gas, tight gas, coal bed methane and shale oil, and it has operations in north and south Texas, mid-continent and Rocky Mountain, San Juan, Permian, and Gulf Coast regions. The acquisition enabled Exxon Mobil to enhance its position in the development of unconventional natural gas and oil resources.
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Kinder Morgan acquires El Paso for $37.8bn
Kinder Morgan, a pipeline transportation and energy storage company, acquired upstream and midstream energy firm El Paso Corporation for approximately $37.80bn in May 2012.
The midstream assets of El Paso were valued at approximately $31.80bn, whereas the upstream assets were valued at approximately $6bn. Following the acquisition, El Paso became a wholly owned subsidiary of Kinder Morgan. The deal ensured Kinder Morgan owned regulated interstate natural gas pipelines and access key supply regions and major consuming markets in the US.
Enbridge Income Fund acquires Enbridge Pipelines and Enbridge Athabasca for $30.4bn
Through its indirect subsidiary Enbridge Income Partners, Enbridge Income Fund (EIF) concluded the acquisition of Enbridge Pipelines Inc (EPI) and Enbridge Pipelines (Athabasca) from Enbridge for $30.40bn in September 2015.
EPI owns the Canadian mainline system that includes various crude oil, NGL, refined products pipelines, and the Regional Oil Sands system. The company also holds interests in several wind farms delivering a combined generation capacity of 830MW. The deal enabled EIF to expand its midstream business in Canada.
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By GlobalDataRosneft acquires TNK-BP for $27.73bn
In March 2013, OJSC Rosneft Oil Company acquired a 50% stake in TNK-BP Limited (TNK-BP) from Alfa Group and Access-Renova (AAR Consortium), led by the Russian billionaire Mikhail Fridman, for $27.73bn.
Under the deal, Rosneft also acquired other 50% stake in TNK-BP from BP for $26.35bn in cash. The acquisition allowed Rosneft to expand its oil and gas portfolio and improve efficiencies through optimisation and other cost savings.
Rosneft acquired TNK-BP for $26.35bn
OJSC Rosneft Oil Company completed the acquisition of a 50% stake in TNK-BP Limited (TNK-BP) from BP for $26.35bn in March 2013. TNK-BP Limited holds 100% interest in TNK-BP International.
Rosneft signed a definitive agreement with BP to acquire the 50% stake in TNK-BP in November 2012. Under the agreement, BP agreed to not dispose of any of Rosneft shares acquired in the transaction for at least 360 days after the deal was completed. The acquisition allowed Rosneft to expand its oil and gas business both in Russia and internationally.
Iberdrola acquires ScottishPower for $22.4bn
Renewable energy firm Iberdrola, a, acquired ScottishPower, a renewable energy company, for approximately $22.4bn (€17.1bn) in April 2007. The acquisition was financed through a combination of cash, shares and debt.
With the acquisition, Iberdrola and ScottishPower achieved a combined installed capacity of approximately 40,000MW, reaching more than 21 million consumers in Europe and the Americas. The transaction enabled Iberdrola to strengthen its position and expand its presence in Europe and the Americas.
Energy Transfer Partners acquires Regency Energy for $18bn
Energy Transfer Partners (ETP), a US-based midstream oil and gas company, acquired Regency Energy Partners (RGP), a midstream oil and gas company, for $18bn, in April 2015.
ETP entered a definitive merger agreement in January 2015 to acquire Regency, under which RGP became wholly owned subsidiary of ETP. The deal allowed ETP to create significant cost savings, capital efficiencies and valuable auxiliary benefits by consolidating complementary midstream operations.
Anadarko acquires Kerr-Mcgee Corporation for $18bn
In August 2006, Anadarko Petroleum Corporation acquired Kerr-McGee Corporation, an oil and natural gas exploration and production company, for $18bn including $16.4bn in cash and $1.6bn in debt.
The acquisition was financed by a credit facility offered by UBS, Credit Suisse Group and Citigroup. The transaction implied a deal value of $68,789.81 per barrel of oil equivalent (boe) of daily production and $18.6 per boe of proven reserves. The acquisition ensured Anadarko was able to further expand its business.
Gas Natural acquires Union Fenosa for $17.93bn
Spain-based energy firm Gas Natural Group completed the acquisition of a majority stake in Union Fenosa for $17.93bn in April 2009. Following the deal, Gas Natural owned 84.77% of the acquired company.
In 2008, Gas Natural Group bought 9.99% and 35.31% stakes in Union Fenosa. The acquisition of the majority stake enabled Gas Natural to increase its presence in the electricity and gas markets throughout Spain and Latin America.
Chevron acquires Unocal for $17.3bn
Chevron Corporation (formerly known as ChevronTexaco Corporation) acquired natural gas and crude oil exploration and production company Unocal Corporation for $17.30bn in August 2005.
The company paid $7.5bn in cash and approximately $9.6bn by issuance of common stock of Chevron, with $200m for stock options. The acquisition reinforced Chevron’s position as a global energy leader, increasing its assets in key basins around the world.
