Deal Insight
Chrysaor merges with Premier in reverse takeover
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Chrysaor is acquiring Premier Oil by way of a reverse takeover and refinancing. Chrysaor shareholders will own at least 77% of the pro-forma business, which will be London's largest listed independent E&P company. With production of over 250 kboe/d (90% from the UK) Chrysaor will rival European peers Lundin and Aker BP for scale. Private equity-backed Chrysaor was already the biggest independent producer in the UK. While around 75% of Premier's current production also comes from the UK, it is a more internationally diverse business with additional production in South East Asia and major development opportunities in Latin America.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Chrysaor and Premier: overview
- Chrysaor in detail
-
Premier in detail
- UK
- Americas
- South East Asia
- Deal analysis
-
Upsides and risks
- Chrysaor upsides
- Premier upsides
- Chrysaor risks
- Premier risks
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Strategic rationale
- Chrysaor
- Premier
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Deal analysis: Table 1
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Chrysaor and Premier: Woodmac 2P commercial reserves (entitlement basis), by asset
- Chrysaor and Premier: pro-forma entitlement production
- Upstream assets: Table 1
- Chrysaor commercial assets: opex per boe vs remaining entitlement reserves vs NPV10
- Combined cash flow
- Upstream assets: Table 2
- Premier: UK asset cash flow by asset (and net)
What's included
This report contains:
