Deal insight

Anadarko farms-out 12.75% interest in the Heidelberg deepwater project to Marubeni for a carry of US$860 million

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Report summary

Marubeni has acquired a 12.75% stake in the Anadarko operated Heidelberg field for US$860 million. Heidelberg is a large subsalt Miocene field located in the southern Green Canyon area of the deepwater Gulf of Mexico. The field was discovered in 2009 and is expected to be sanctioned for development in 2013. First production is expected in mid 2016.We value the deal at US$487 million (NPV10 discounted to April 2013); just over half of the purchase price. There is upside to the 300 mmboe ...

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    Anadarko farms-out 12.75% interest in the Heidelberg deepwater project to Marubeni for a carry of US$860 million

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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

  • Upsides and risks: Image 1

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

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