Deal Insight

ExxonMobil buys 33% stake in BM-S-8 Brazil from Statoil

From

$1,650.00

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Report summary

ExxonMobil is buying a 33% stake from Statoil in the BM-S-8 block offshore Brazil for a nominal consideration of US$1.3 billion. The transaction includes the pre-salt Carcará oil discovery, which extends to the north into the Norte de Carcará block, and the Guanxuma exploration prospect. On the same day, the Norte de Carcará area had been awarded to Statoil (40% and operator), ExxonMobil (40%) and Petrogal (20%) in Brazil's 2nd PSC Round. The deal aims to align equity interests on the two blocks as much as possible before unitisation talks begin. The US$1.3 billion consideration will be paid in two instalments. The first will be an upfront cash payment of US$800 million and a contingent payment of US$500 million.

What's included

This report contains

  • Document

    ExxonMobil buys 33% stake in BM-S-8 Brazil from Statoil

    PDF 291.66 KB

Table of contents

  • Executive summary
  • Transaction details
    • Carcará
    • Carcará extension awarded in Brazil's 2nd PSC Round
    • Guanxuma
  • Deal analysis
    • Reserves upside
    • Local content
    • Unitisation risks
    • High pressure
    • Gas monetisation
    • ExxonMobil
    • Statoil
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

Tables

  • Executive summary: 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
  • Upstream assets: Table 1

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