Deal Insight

Det Norske strikes again as Premier Oil exits Norway

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Report summary

In yet another deal on the NCS, Det Norske is to acquire Premier Oil's Norwegian subsidiary for US$120 million. We value the package at US$159 million on a standalone basis which is attributed to a 50% pre-FID share in Vette and unused tax assets totalling US$125 million. Once again, the deal highlights that discovered barrels with upcoming capex can be purchased at an attractive price but also the need for portfolio rationalisation in the low oil price environment.

What's included

This report contains

  • Document

    Det Norske strikes again as Premier Oil exits Norway

    PDF 296.44 KB

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 8 images and tables including:

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • 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

Images

  • Det Norske cashflow (2015 - 2022)

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