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BP sells its 60% stake in Pan American Energy to Bridas Corporation for US$7 billion

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Report summary

BP is to sell its 60% stake in Pan American Energy (PAE) to Bridas Corporation for a cash consideration of $7.1 billion. Bridas Corporation is owned 50% by Bridas Energy Holdings Ltd. and 50% by CNOOC Ltd the latter having acquired its share in March 2010 for US$3.1 billion. Bridas Corporation already holds the remaining 40% in PAE. We value the assets transferred at US$7.0 billion (NPV10). However given the fiscal regulatory and operational uncertainties associated with the ...

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    BP sells its 60% stake in Pan American Energy to Bridas Corporation for US$7 billion

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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:

Tables

  • Executive summary: Table 1
  • 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

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