Deal Insight
Cairn sells Catcher and Kraken to Waldorf for US$460m
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
-
Upstream assets
- Greater Catcher Area (20%)
- Kraken Area (29.5%)
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- Cairn Energy
- Waldorf Production
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- Executive summary: Table 1
- Implied long-term oil price (ILTOP) comparison (NPV10)
- 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
What's included
This report contains:
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