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8 Pages

DNO acquires RAK's assets in exchange for equity


DNO acquires RAK's assets in exchange for equity

Report summary

DNO International and RAK Petroleum have announced a Heads of Agreement for the merger of RAK's operating subsidiaries in the Middle East and North Africa (MENA) with a subsidiary of DNO. In exchange, DNO will issue shares to RAK equivalent to roughly 10% equity in the company - taking RAK's shareholding in DNO to approximately 40%. The DNO shares will be issued at a minimum of NOK 8.25 (US$1.48) per share and a maximum of NOK 10.00 (US$1.79), against a value of the transferred ...

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  • DNO acquires RAK's assets in exchange for equity PDF - 675.27 KB 8 Pages, 5 Tables, 2 Figures

Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
  • Upstream assets
    • Oman
      • Block 8 (50% Working Interest)
      • Block 30 (100% WI)
      • Blocks 31 and 47 (100% WI and 50% WI)
    • UAE
      • Saleh (100% WI)
      • RAK B (100% WI)
      • RAK onshore concession
    • North Africa
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
    • DNO International
    • RAK Petroleum
  • Oil & gas pricing and assumptions

In this report there are 7 tables or charts, including:

  • Executive summary
  • Transaction details
  • Upstream assets
    • Upstream assets: Table 1
    • RAK and DNO production and reserves
    • RAK and DNO MENA acreage
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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