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  "documentTitle": "Tudor, Pickering, Holt &amp; Co | Investment Banking Pitch Book | 77 slides",
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  "notes": "The table includes a median and mean summary row at the bottom.",
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      "kind": "callout",
      "text": "CONFIDENTIAL DRAFT SUBJECT TO CHANGE",
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      "text": "Source: Dealogic as of 10/3/2018. Note: Excludes MLPs and transactions without publicly available premiums data. Based on deals involving U.S. targets with deal value greater than $250MM, target general industry group defined as oil & gas or utilities & energy, announce date since 2008, acquirer final stake > 90% and 100% cash consideration. (1) Niska units were trading at $1.21 / unit for a market capitalization of $50MM at the time of the transaction, net debt of $726MM and LTM EBITDA of ($25.4MM).",
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      "text": "Selected Energy Precedent Transactions",
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