Deal insight

Chevron executes 30% Duvernay farm-out agreement with KUFPEC for US$1.5 bn

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Report summary

The deal includes 330 000 net acres of prospective Duvernay acreage predominantly located within the Kaybob area of Alberta. In this sub play which is the best performing of the play Chevron has drilled 16 wells of which 13 have been completed and a further 10 tied in. Under our base case we value the assets acquired at US$1.31 billion. But a number of factors could provide upside to our valuation: higher EURs downspacing cost reductions and an accelerated drilling programme.

What's included

This report contains

  • Document

    Chevron executes 30% Duvernay farm-out agreement with KUFPEC for US$1.5 bn

    PDF 378.88 KB

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 11 images and tables including:

Images

  • Duvernay wells drilled by sub-play and operator
  • Duvernay corporate production outlook
  • Upside to valuation

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Deal analysis: Table 4
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

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