One-Page Deal Sheet
Sempra Sells Exploration and Production to PEC Minerals LP
Pec Minerals L.P. Sempra Energy
Announced Date
March 01,2007
Close Date
August 01,2006
Transaction Type
Corporate
Enterprise Value (EV)($MM)
225
Net Acres
Location
Country
United States
Transaction Details: Subscribe to see
Sempra Generation, a unit of Sempra Energy, has agreed to sell its exploration and production subsidiary, Sempra Energy Production Company (SEPCO), to PEC Minerals L.P. for approximately $225 million in cash. Sempra Energy expects to record an after-tax gain of approximately $110 million on the sale as part of discontinued operations.
The transaction is expected to close next month.
PEC Minerals L.P. is owned by a group consisting of Jetta Operating Company, Trevor Rees-Jones and Providence Energy Corp.
SEPCO's assets include ownership of mineral rights over 570,000 net acres and executive…
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