Insight
Do oil and gas acquisitions create value?
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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 contains
Table of contents
- Executive summary
- Methodology
- Results
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Conclusions
- So what is a winning M&A strategy?
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Appendix
- Methodology
Tables and charts
This report includes 9 images and tables including:
Images
- 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
Tables
- Do oil and gas acquisitions create value?: Table 1
- Do oil and gas acquisitions create value?: Table 2
- Deal list
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