Deal insight

PETRONAS acquires Progress Energy for Cdn$5.5 billion

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Report summary

PETRONAS has agreed to acquire Progress Energy for US$5.3 billion the largest ever acquisition of a North American company by an Asian NOC. The deal builds on the US$1.1 billion strategic partnership that the companies announced in 2011. Central to the deal is Progress' mammoth position in the Montney tight gas play of northeast British Columbia. With depressed domestic gas prices the deal's success hinges on PETRONAS' ability to develop LNG export capacity on the west ...

What's included

This report contains

  • Document

    PETRONAS acquires Progress Energy for Cdn$5.5 billion

    PDF 4.91 MB

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 7 images and tables including:

Images

  • Play-wide Montney IP rates over time
  • Progress Energy wells and Montney play
  • Base valuations of development scenarios under 10% discount rate

Tables

  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Deal analysis: Table 1
  • Deal analysis: Table 2

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