Deal Insight
Delek-owned Ithaca acquires Marubeni's UK portfolio
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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
Marubeni has sold its UK upstream business to Ithaca Energy for a base consideration of US$140 million. There are additional contingent payments of up to US$255 million based on future development activity within the portfolio and oil price. Included in the portfolio is the Repsol-operated MonArb Area and the CNR-operated Columba Terraces. Marubeni's tax loss pool of US$1.6 billion will also be transferred to Ithaca.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- MonArb Area (non-op 41.03%)
- Columba Terraces (non-op 5.6% - 8.41%)
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- Marubeni
- Ithaca Energy
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Marubeni UK: net cash flow
- 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
- Upstream assets: Table 1
- Ithaca Energy production profile post-acqusition
What's included
This report contains:
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