Deal Insight
EDF exits upstream in preparation for the energy transition
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
EDF-owned Edison has become the latest utility to exit the upstream space, selling its wholly-owned subsidiary Edison E&P to Energean Oil & Gas. The initial consideration is US$750 million, which could increase to around US$1 billion, contingent on development milestones and royalty payments. The gas-weighted portfolio includes operated and non-operated interests both onshore and offshore Italy, a 100% interest in Abu Qir in Egypt, the onshore Reggane Nord field in Algeria, two under development fields in Norway, and the Glengorm discovery in the UK North Sea.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Upstream assets: Table 1Deal analysis: Table 1
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1) Edison capex and cash flow outlook; 2) Edison NPV10 by country (incl Glengorm)Deal analysis: Table 2Deal analysis: Table 3Deal analysis: Table 4Energean's combined production post-acquisitionOil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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