Deal Insight
BHP Billiton acquires Petrohawk Energy in a US$15.1 billion deal
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Report summary
BHP Billiton has announced the acquisition of US independent Petrohawk Energy. BHP Billiton will pay US$38.75/share - a 65% premium to Petrohawk's closing share price the day before deal announcement. Including debt, the total consideration is approximately US$15.1 billion, making the transaction the largest in the upstream sector since ExxonMobil's acquisition of XTO in late 2009. We value Petrohawk's upstream portfolio at just over US$13 billion (NPV10, discounted to 1 July ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Eagle Ford
- Haynesville
- Permian
-
Deal analysis
- Wood Mackenzie Modelling Assumptions
-
Upsides and risks
- Upsides
- Risk
-
Strategic rationale
-
BHP Billiton
- A truly transformation deal
- Petrohawk
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BHP Billiton
- Oil & gas pricing and assumptions
Tables and charts
This report includes 11 images and tables including:
- Executive summary: Table 1
- Transaction details: Table 1
- US$ per mcfe and ILTGP - North American unconventional gas deals
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
- Large Cap benchmarking - Wood Mackenzie total resources segmented by 1p, 2p and total resource
- BHP Billiton production - relative to peer group average and total vs targets
What's included
This report contains:
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