Deal Insight
DEA expands in Mexico with Sierra takeover
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
DEA is to acquire Mexico's Sierra Oil & Gas in the country's largest upstream M&A deal since the historic energy reform was enacted. Most notably the deal features Sierra's interest in Zama – the flagship field and shallow-water discovery that has defined Sierra since its successful Round One bid. DEA is committed to an aggressive growth strategy in Mexico and plans to deploy US$1 billion to increase its new position. The company is in the midst of merging with BASF's Wintershall to become DEA Wintershall and there are plans to take the combined international E&P public in 2019.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Zama
- Salinas-Sureste exploration blocks
- Deal analysis
-
Upsides and risks
- Zama exploration upside
- Mexico's first unitisation
- Political risks for future development
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Strategic rationale
- DEA
- Sierra Oil & Gas
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Map
- Upstream assets: Table 1
What's included
This report contains:
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