Deal Insight

BP sells Wytch Farm to Perenco for up to US$610 million

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17 May 2011

BP sells Wytch Farm to Perenco for up to US$610 million

Report summary

BP has announced the sale of its UK interests in the Wytch Farm, Kimmeridge, Wareham and Beacon fields to Perenco. Perenco has paid an initial consideration of US$500 million, with US$55 million payable on completion of the deal. A further US$55 million cash payment is contingent on the future development of the Beacon field and oil prices until 2013. The partners in the two Wytch Farm offshore licences, PL089 and PL534, hold pre-emption rights. Our base case valuation of US$449 million ...

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 8 images and tables including:

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Wood Mackenzie forecast of annual production and spend at Wytch Farm (net to Perenco at 67.81%)
  • 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

What's included

This report contains:

  • Document

    BP sells Wytch Farm to Perenco for up to US$610 million

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