Deal Insight
Cairn sells Catcher and Kraken to Waldorf for US$460m
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Cairn Energy has agreed to sell its producing assets in the UK to Waldorf Production for US$460 million. Additional uncapped contingent considerations will be payable depending on oil prices and production performance to 2025. The deal includes non-operated interests in the Premier Oil-operated Greater Catcher Area and the EnQuest-operated heavy oil Kraken Area, located in the Central and Northern North Seas respectively. Cairn will retain its UK exploration acreage.
Table of contents
- Executive summary
- Transaction details
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Upstream assets
- Greater Catcher Area (20%)
- Kraken Area (29.5%)
- Deal analysis
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Upsides and risks
- Upsides
- Risks
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Strategic rationale
- Cairn Energy
- Waldorf Production
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Implied long-term oil price (ILTOP) comparison (NPV10)Deal analysis: Table 1
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Deal analysis: Table 2Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2Upstream assets: Table 1
What's included
This report contains:
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