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

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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?

20 August 2019

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

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.

Table of contents

  • Are Australian LNG assets the next big infrastructure investments?
    • 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
    • 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 6 images and tables including:

  • 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

What's included

This report contains:

  • Document

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

    PDF 1.06 MB

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