Deal Insight
CONSOL to buy Dominion's Appalachian Basin E&P business for US$3.48 billion
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Report summary
CONSOL Energy has announced the acquisition of Dominion's Appalachian Basin E&P business. This is the latest deal in a wave of M&A activity focused on US shale gas opportunities. The assets acquired comprise wells producing from conventional gas zones and a sizeable, albeit undeveloped, Marcellus Shale acreage position. CONSOL estimates the transaction provides a resource base of between 12.1 and 34 tcfe. The agreed consideration is US$3.475 billion, to be paid in cash at ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Marcellus Shale
- Shallow producing conventional assets
- Deal analysis
-
Upsides and risks
- Development of the substantial resource lowers the deal implied gas price
- Technology improvements could further reduce costs and enhance development returns
- Improved water management could reduce unit costs
- Fiscal uncertainty in Pennsylvania is a major risk
-
Strategic rationale
- Dominion Resources
- CONSOL Energy
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- 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
- Oil & gas pricing and assumptions: Table 3
- Upstream assets: Table 1
What's included
This report contains:
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