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ConocoPhillips to divest its Nigerian business unit to Oando Energy Resources for US$1.79 billion

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Report summary

On 20 December 2012, ConocoPhillips announced an agreement to sell its Nigerian business unit to Oando Energy Resources (OER) for a cash consideration of US$1.79 billion. The effective date is 1 January 2012. If it completes, it will mark the withdrawal of ConocoPhillips from Nigeria, and a substantial increase in the upstream portfolio of OER, which is a listed company on the Toronto Stock Exchange, and a 94.6%-owned affiliate of Oando plc, a predominantly downstream Nigerian company.The ...

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    ConocoPhillips to divest its Nigerian business unit to Oando Energy Resources for US$1.79 billion

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  • 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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