Deal insight

Deepwater GoM remains afloat: Mitsui acquires 20% interest in Kaikias from Shell

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Report summary

Mitsui & Co is buying a 20% stake in the Kaikias and Circius assets from Shell for an undisclosed sum. Kaikias will be Mitsui's sole asset in the deepwater Gulf of Mexico. Shell maintains an 80% interest and operatorship of both assets. Kaikias is a medium-sized, Subsalt Miocene oil field located near Shell's Mars and Ursa projects. We estimate reserves at 147 mmboe and a point-forward Brent breakeven of US$37/bbl, (NPV10). The project will be developed as a subsea tie-back with final investment decision (FID) expected in 2017 and first oil in 2019. Circius is an undrilled prospect in a neighbouring block.

What's included

This report contains

  • Document

    Deepwater GoM remains afloat: Mitsui acquires 20% interest in Kaikias from Shell

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Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 6 images and tables including:

Tables

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

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