Deal Insight
Equinor acquires Suncor's UK business for up to US$850 million
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
On 3 March 2023, Equinor announced it had agreed to acquire Suncor Energy's UK business for a total consideration of up to US$850 million. The transaction includes a non-operated interest in the producing Buzzard oil field (29.89%) and an additional operated interest in the Rosebank development (40%). At first glance this looks to be a great deal for Equinor. Our valuation of US$1.4 billion (NPV10) is significantly higher than the consideration. But material fiscal and development risks ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Rosebank (40%)
- Buzzard (29.89%)
- Deal analysis
-
Upsides and risks
- Upsides
- Downsides
-
Strategic rationale
- Equinor
- Suncor Energy
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Deal valuations by fiscal scenario
- 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
- Equinor UK production
What's included
This report contains:
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