Dana Petroleum acquires Suncor's Netherlands business.
Dana Petroleum has announced the acquisition of Suncor Energy's Netherlands business, Petro-Canada Netherlands BV, marking the largest deal in the company's history. The net upstream consideration is €305 million (US$374 million). The portfolio is gas weighted (remaining reserves are 60% gas), and offers attractive near-term growth. Under our base case assumptions, we place a value of US$564 million on the upstream portfolio (NPV10, discounted to 1 January 2010). The main ...