Deal insight

Cairn Energy acquires Nautical Petroleum for US$534 million

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Report summary

Cairn is to acquire Nautical Petroleum for US$534 million ( 344 million) net of working capital. Cairn's 4.50 per share offer represents a 51% premium to Nautical's closing share price on the day prior to the deal announcement. Nautical's portfolio is dominated by interests in three UK probable developments: Kraken (25%) the Greater Catcher Area (15%) and Mariner (6%) as well as acreage in the UK France and Ireland.For Cairn the deal marks a second UK focused ...

What's included

This report contains

  • Document

    Cairn Energy acquires Nautical Petroleum for US$534 million

    PDF 451.59 KB

Table of contents

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

Tables and charts

This report includes 6 images and tables including:

Images

  • Wood Mackenzie NPV estimates by asset (including Kraken Low scenario) vs. comparable deal valuations
  • Kraken (25%) NPV sensitivity analysis under Base price scenario (including cost carry)
  • Wood Mackenzie forecasts for Cairn Energy production and capex, post Agora and Nautical deals

Tables

  • Deal analysis: Table 1
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

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