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8 Pages

Do oil and gas acquisitions create value?

Do oil and gas acquisitions create value?

Report summary

Do oil and gas acquisitions create value?  A fundamental question for any would-be buyer, but difficult to answer, and largely overlooked as a result. In this note, we revisit 70 of the largest deals announced between 2009 and 2013, analysing each from today's vantage point to quantify underlying value creation. The results make grim reading for buyers. We explore the high-level findings, and consider the implications for M&A in the current environment.

What's included?

This report includes 1 file(s)

  • Do oil and gas acquisitions create value? PDF - 345.21 KB 8 Pages, 3 Tables, 6 Figures


This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • Executive summary
  • Methodology
  • Results
  • Conclusions
    • So what is a winning M&A strategy?
  • Appendix
    • Methodology

In this report there are 9 tables or charts, including:

  • Executive summary
    • Do oil and gas acquisitions create value?: Table 1
  • Methodology
  • Results
    • Total value creation (70 deals, 2009-2013, NPV10, 2016 terms)
    • Deal-by-deal value creation: current WoodMac valuation vs. purchase price (by buyer peer group)
    • Aggregate production
    • Aggregate development capex (nominal)
    • Wood Mackenzie price assumptions and realised
    • Do oil and gas acquisitions create value?: Image 6
  • Conclusions
    • Do oil and gas acquisitions create value?: Table 2
  • Appendix
    • Deal list
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Department : .............
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Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.