Deal insight

CNOOC acquires a stake in Chesapeake's Niobrara acreage

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Report summary

CNOOC Ltd. has entered into an agreement with Chesapeake to acquire a 33.3% interest in the company's Niobrara Shale acreage. The transaction follows the Eagle Ford JV between the companies announced in October 2010. As in the earlier deal, CNOOC will pay Chesapeake an up front sum, in addition to a cost carry. The total consideration is US$1,267 million (nominal). We value the deal at an Implied Long-term oil Price of US$82/bbl (NPV10, in 2011 terms). Unit metrics equate to an ...

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    CNOOC acquires a stake in Chesapeake's Niobrara acreage

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Table of contents

Tables and charts

This report includes 9 images and tables including:

Images

  • Implied Long-term Oil Price sensitivity to ultimate recovery
  • Vicinity map of acquired assets

Tables

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

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