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BP and ConocoPhillips seal asset swap

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06 July 2018

BP and ConocoPhillips seal asset swap

Report summary

BP and ConocoPhillips have announced two deals that effectively amount to a trans-Atlantic asset swap. BP will buy a 16.5% in Clair (UK) from ConocoPhillips, bumping its stake to 45.1%. The US super-independent will buy BP's entire 39.2% stake in the Greater Kuparuk Area (Alaska), giving it 94.5%.The deal is structured as two separate transactions, the terms of which are undisclosed, but expected to be cash neutral for both companies. We value both sides of the deal at US$2.2 billion ...

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

  • Production, capex and cash flow outlook: 1) 16.5% in Clair; 2) 39.2% in Kuparuk
  • Upstream assets: Table 1
  • Upstream assets: Table 2
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    BP and ConocoPhillips seal asset swap

    PDF 212.21 KB