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7 Pages

Chevron acquires Atlas Energy for US$4.3 billion

Chevron acquires Atlas Energy for US$4.3 billion

Report summary

Chevron is to acquire Atlas Energy for US$4.3 billion (including debt of US$1.1 billion). Atlas holds 486,000 net acres in the Marcellus Shale, plus 623,000 net acres in the embryonic Utica and Collingwood shales. Our analysis suggests that the deal will break even at a long-term gas price of US$6.55/mcf. This assumes that only the Marcellus, Chatanooga and Antrim shales are commercial. Should the liquids rich Utica and Collingwood shales be proven viable, Chevron's early-entry ...

What's included?

This report includes 1 file(s)

  • Chevron acquires Atlas Energy for US$4.3 billion PDF - 379.61 KB 7 Pages, 6 Tables, 0 Figures


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.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
  • Upstream assets
    • Marcellus Shale
    • Antrim Shale
    • Emerging plays
    • Midstream assets
  • Deal analysis
  • Upsides and risks
    • Shrinking Northeast gas price premiums
    • Fiscal uncertainty in Pennsylvania can pose a risk
    • Technological improvements and better water management will reduce costs and enhance returns
    • Exploration Upside
  • Strategic rationale
    • Chevron
    • Atlas
  • Oil & gas pricing and assumptions

In this report there are 6 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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