Ameredev Acquisition, Valuation, Funding & Investors

Ameredev was acquired by Matador Resources for $1.9B in June 2024.

Ameredev acquisition price

$1.9B

Acquired by Matador Resources · Jun 2024

Cumulative funding Ameredev raised

$400M

across 1 funding round

Key investors in Ameredev

  • EnCap Investments

Ameredev Overview

About Ameredev

Ameredev is an oil and gas exploration and production company focused on acquiring and developing properties with emphasis on operational responsibility.


Founded

2015

HQ

United StatesAustin, TX

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.9B (acquired Jun 2024)

Sectors

Ameredev Acquisition

Ameredev was acquired by Matador Resources for $1.9B on 12 June 2024.

Before the acquisition Ameredev had raised $400M across 1 funding round.

Matador Resources Company, an independent oil and gas exploration and production company focused on the Delaware Basin, acquired a subsidiary of Ameredev II Parent LLC from affiliates of EnCap Investments LP for $1.832 billion in cash (subject to customary post-closing adjustments), with the transaction closing in September 2024 and an effective date of June 1, 2024. The acquisition added 33,500 contiguous net acres in Lea County, New Mexico, and Loving and Winkler Counties, Texas, including 431 gross (371 net) operated locations with prospective targets in the Wolfcamp and Bone Spring formations, approximately 118 million barrels of oil equivalent in proved reserves (60% oil), and a 19% equity stake in Piñon Midstream LLC, which operates 135 miles of water, natural gas, and oil pipelines. The bolt-on transaction significantly expanded Matador's Delaware Basin footprint to over 190,000 net acres with approximately 2,000 net locations providing 10-15 years of drilling inventory, increased pro forma production to over 180,000 barrels of oil and natural gas equivalent per day, and brought total proved reserves to over 600 million BOE, while Matador planned to implement operational synergies including simul-frac and trimul-frac completions, dual fuel technologies, and other efficiencies expected to generate approximately $160 million in value over five years without incrementally increasing the company's 2024 capital expenditure guidance of $1.10 to $1.30 billion.

Ameredev acquisition details
AcquirerDateTypePrice
12 Jun 2024Strategic M&A$1.9B

Ameredev Funding History

Ameredev has raised a total of $400M across 1 funding round.

Ameredev funding rounds

Ameredev funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2017Undisclosed stageEnCap Investments (lead)$400MAmeredev II, LLC is an Austin-based exploration and production company focused on acquiring and developing oil and gas resources in the United States, led by a management team with a proven track record including the $633 million sale of Core Southern Delaware Basin assets to Callon Petroleum Company. On March 7, 2017, Ameredev II announced the closing of a $400 million equity commitment from EnCap Investments, L.P. and members of Ameredev management, marking a continued partnership following prior successes. EnCap Investments, a leading provider of private equity to the U.S. oil and gas independent sector since 1988, has raised 19 funds totaling about $27.5 billion and manages capital for over 300 investors, with professionals bringing more than 250 years of energy finance experience. Parker Reese, Ameredev's CEO, highlighted EnCap's relationship focus, balanced perspective, and investment returns as ideal for partnership. Jason DeLorenzo, EnCap Managing Partner, congratulated Ameredev on the Delaware Basin asset sale and expressed excitement for the new venture with Ameredev II. Later developments include Matador Resources acquiring Ameredev II Parent LLC's Permian Basin assets in New Mexico and West Texas for $1.9 billion in cash, plus a 19% stake in Piñon Midstream's pipeline and compression assets, amid ongoing shale consolidation.

Who has invested in Ameredev?

1 investor has backed Ameredev across its funding rounds, including EnCap Investments.

Lead investors include EnCap Investments.


Ameredev Investors

Investors in Ameredev by funding rounds participated
InvestorHQRoundsRoleFirst check

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Ameredev Competitors

Ameredev competitors include listed companies like Maurel & Prom, Spartan Delta, Vermilion Energy and NextDecade, and private ones like Yantai Wanhua Petrochemical and Yinson Production.

Public and private companies comparable to Ameredev
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Maurel & PromFranceFrancePublicly listed$578M$510M$1.9B2.6x
Spartan DeltaCanadaCanadaPublicly listed$297M$175M$1.9B4.5x
Vermilion EnergyCanadaCanadaPublicly listed$1.4B$395M$1.9B1.9x
NextDecadeUnited StatesUnited StatesPublicly listed-($328M)$1.9B-
Yantai Wanhua PetrochemicalChinaChinaPrivate--$2.6B-
Yinson ProductionSingaporeSingaporePrivate$606M-$3.7B6.1x

Ameredev Public Comps

Ameredev is no longer listed, but its public comps include Maurel & Prom, Spartan Delta, Vermilion Energy, NextDecade, Genesis Energy, Petrolimex, Energean, Helix Energy Solutions, Expro and World Kinect.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Maurel & Prom$578M$510M3.0x2.6x3.4x5.2x
Spartan Delta$297M$175M6.9x4.5x11.8x7.9x
Vermilion Energy$1.4B$395M2.1x1.9x7.2x3.4x
NextDecade-($328M)--(46.3x)(75.2x)
Genesis Energy$1.6B$537M3.6x3.3x10.8x10.2x
Petrolimex$12B$211M0.1x0.1x8.1x8.4x
Energean$1.7B$796M3.1x3.0x6.6x4.7x
Helix Energy Solutions$1.3B$200M1.5x1.5x9.6x6.6x

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Common questions about Ameredev

When was Ameredev founded?Ameredev was founded in 2015.
Where is Ameredev headquartered?Ameredev is headquartered in Austin, TX, United States.
Is Ameredev publicly listed?No, Ameredev was acquired by Matador Resources in June 2024.
Who acquired Ameredev?Ameredev was acquired by Matador Resources in June 2024.
How much was Ameredev acquired for?Ameredev was acquired for $1.9B in June 2024.
How much funding has Ameredev raised?Ameredev has raised $400M across 1 funding round.
What was Ameredev's last funding round?Ameredev's last funding round was a $400M undisclosed-stage round in March 2017, led by EnCap Investments.
Who are Ameredev's investors?Ameredev's investors include EnCap Investments.
Which companies are comparable to Ameredev?Companies comparable to Ameredev include Maurel & Prom, Spartan Delta, Vermilion Energy, NextDecade, Yantai Wanhua Petrochemical and Yinson Production.

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