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Delek acquires Chevron's UK North Sea assets for US$2 billion

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04 June 2019

Delek acquires Chevron's UK North Sea assets for US$2 billion

Report summary

Chevron sells its UK North Sea business to Delek Group subsidiary, Ithaca Energy, for US$2 billion. The deal is transformational for Ithaca, which becomes the UK's fifth-largest producer. Clair is now Chevron's only UK asset as the US supermajor continues to retrench to core positions.

Table of contents

  • Executive summary
  • Transaction details
    • Captain (85%)
    • Alba (23.37%)
    • Erskine (50%)
    • Britannia (32.38%)
    • Britannia Satellites - Brodgar (6.25%), Callanish (16.5%) and Enochdhu (50%)
    • Alder (73.68%)
    • Elgin / Franklin (3.90%)
    • Jade (19.93%)
  • Deal analysis
    • Upsides
    • Risks
    • Chevron
    • Delek Group
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 6 images and tables including:

  • 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
  • Upstream assets: Table 1

What's included

This report contains:

  • Document

    Delek acquires Chevron's UK North Sea assets for US$2 billion

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