Australian upstream: An M&A shake-up is on the horizon Report

Insight 20 August 2019

This report is currently unavailable

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

What's inside this report?

An M&A shake-up is on the horizon in Australia. We’ve identified a potential US$32 billion worth of assets that could change hands in the next few years.

Read our report for our take on what’s driving M&A activity.

What key themes does our report explore?

Are Australian LNG assets the next big infrastructure investments?
Where are the opportunities for asset divestments?
The Majors and big IOCs continue to actively manage their global portfolios, but what does this mean in an Australian context?
Is there room for further consolidation in the small-cap space via mergers or acquisitions?

Report summary

An M&A shake-up is coming in Australia. A potential US$32 billion worth of assets could exchange hands in the next few years, with many deals long in the planning. We value the opportunities and identify what type of buyers groups could be interested. We see three key themes driving M&A activity: i) Portfolio rationalisation ii) corporate consolidation and iii) Australian LNG assets as the next big infrastructure investment.

Are Australian LNG assets the next big infrastructure investments?
Asset divestment and possible country exits
- Two potential country exits
- Gippsland Basin – hooking the big Bass
- Queensland LNG – is there a willing buyer?
- North West Shelf joint venture reshuffle
- Will BHP keep its Australian upstream business?
- Woodside seeking more partners
Takeover targets or potential mergers
- Has Oil Search shaken the target off its back?
- The Australian east coast gas market is an attractive play
- And lastly, oil
Appendix

Tables and charts

This report includes the following images and tables:

NWS and Darwin LNG remaining valuation sensitivities
Portfolio fit of potential divestment assets

Other portfolios/assets
Asset divestment opportunities by remaining asset value
Australian small- and mid-cap listed E&P companies – remaining 2P and 2C; market capitalisation per boe