Deal Insight
Chevron partners with BP and ConocoPhillips to develop the Lower Tertiary in deepwater GoM
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Report summary
Chevron announced first production at its Jack/St. Malo Lower Tertiary project in December 2014. We believe that a similar co-development could be replicated at the Tiber, Gila and Guadalupe fields. Our base case, assuming individual facilities, generates an indicative asset valuation of US$954M for Tiber, US$818M for Gila and US$876M for Guadalupe. A shared central facility would increase project NPV by US$580M. We do not anticipate first production from the fields until early next decade.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes 3 images and tables including:
- Chevron DW GoM production portfolio (2015-2024)
- BP development capex profile (2015-2024)
- Oil & gas pricing and assumptions: Table 1
What's included
This report contains:
