Memorial Production to Acquire Producing Oil and Gas Assets in Texas from Memorial Resource for $18m - Asset Transaction will Allow Memorial Production to Expand Mature Producing Assets in Texas - Deal Analysis from GlobalData

Date: March 27, 2012
Pages: 8
Price:
US$ 500.00
License [?]:
Publisher: GlobalData
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: M30380E2E9DEN
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Memorial Production to Acquire Producing Oil and Gas Assets in Texas from Memorial Resource for $18m - Asset Transaction will Allow Memorial Production to Expand Mature Producing Assets in Texas - Deal Analysis from GlobalData
Memorial Production to Acquire Producing Oil and Gas Assets in Texas from Memorial Resource for $18m - Asset Transaction will Allow Memorial Production to Expand Mature Producing Assets in Texas - Deal Analysis from GlobalData

Summary

Memorial Production Partners LP (Memorial Production) agreed to acquire certain oil and natural gas producing assets located in East Texas, from Memorial Resource Development LLC (Memorial Resource), for a purchase consideration of $18.3m.

The assets are located primarily in the Willow Springs field in Gregg County, as well as in the Upshur, Rusk, Panola, Smith and Leon counties in East Texas.

John A. Weinzierl, chairman and CEO of Memorial Production, said, “This accretive transaction with our sponsor is consistent with our stated strategy to acquire assets that meet our acquisition criteria of mature, long-life producing properties. These assets are near our core existing East Texas properties and offer identified low-risk exploitation opportunities that will supplement our production profile.”

Scope
  • Rationale behind Memorial Production buying assets from Meorial Resource
  • Stratigic benefits for the companies involved in the transaction
  • Geography covered - US

Reasons to buy
  • Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in the oil and gas sector in Texas (US)

Keywords

Memorial Production, Memorial Resource, oil , gas, East Texas, South Texas, Texas, exploartion, production
1 TABLE OF CONTENTS

1.1 List of Tables
1.2 List of Figures

2 MEMORIAL PRODUCTION TO ACQUIRE PRODUCING OIL AND GAS ASSETS IN TEXAS FROM MEMORIAL RESOURCE FOR $18M

2.1 Deal Overview
2.2 Deal in Brief
2.3 Asset Transaction in Line with the Objective of Allowing Memorial Production to Own Mature Producing Assets in North America
2.4 Prolific Texas Region is of Interest to Oil and Gas Companies
2.5 Memorial Resource Sells Assets to Memorial Production at a Discount
2.6 Deal Financials and Valuations

3 APPENDIX

3.1 Methodology
3.2 Contact Us
3.3 Disclaimer

LIST OF TABLES

Table 1: Texas, Major Deals, October 2011 – March 07, 2012
Table 2: US, Texas, Major Deals, 2011 – March 07, 2012
Table 3: Companies Involved
Table 4: Financials of the Deal
Table 5: Target Information
Table 6: Target’s Production and Reserves Information
Table 7: Company Valuation Multiples
Table 8: Commodity Prices in $, Last Close
Table 9: Acquirer Information
Table 10: Vendor Information

LIST OF FIGURES

Figure 1: Memorial Production, Organization Structure, 2012
Figure 2: Memorial Production, East Texas, Asset Location Map, 2012
Figure 3: Memorial Production, The US, Change in 1P Reserves, bcfe, 2012

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Memorial Production to Acquire Producing Oil and Gas Assets in Texas from Memorial Resource for $18m - Asset Transaction will Allow Memorial Production to Expand Mature Producing Assets in Texas - Deal Analysis from GlobalData
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