Deal Insight
Cairn Energy sells 10% stake in Catcher to Dyas through carry arrangement
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Report summary
Cairn Energy is to farm down a 10% stake in the Greater Catcher area development and adjacent acreage to Dyas. The deal is structured as a carry: Dyas will fund Cairn's exploration and development costs up to a cap of US$182 million. Catcher is the largest discovery in the UK since 2010. The field received development sanction in June 2014, and is expected to require total capex of US$2.4 billion between 2014 and 2018.
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 4 images and tables including:
- Cairn capex profile pre-deal vs post-deal
- Dyas capex and cash flow pre-deal vs post-deal
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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