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Centrica is to acquire a 25% stake in onshore licence PEDL 165, located in northwest England, from Cuadrilla Resources and AJ Lucas. Centrica will make an up-front cash payment of US$62.5 million (£40 million),but the total consideration could rise to US$250 million. This marks the first UK shale gas-focussed M&A proper, and heralds the arrival of one of the UK's biggest gas players on the scene. Centrica will view its move into UK uncons as an expansion of its exploration ...
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The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.
This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.
This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.
For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.
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Deal insight | Jun 2013
Centrica joins the UK shale gas hunt
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