Deal Insight
ExxonMobil sells UK assets to NEO Energy for over US$1bn
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
ExxonMobil has agreed to sell a package of UK assets to HitecVision-backed NEO Energy for US$1 billion. In addition, US$300 million of contingent payments could be due based on increases in commodity prices. The package is focused on the Central and Northern North Sea and includes the Penguins, Gannet Area, Shearwater Area, Elgin Franklin Area, ETAP (Mirren and Madoes) and Nelson fields. ExxonMobil will retain its interest in its Southern North Sea assets. Our valuation is higher than the price paid. We think this reflects a tough asset market, where there would be limited competition for a package of this size.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
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Upsides and risks
- Upsides
- Risks
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Strategic rationale
- ExxonMobil
- NEO Energy
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Upstream assets: Table 1Deal analysis: Table 1
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Deal analysis: Table 2Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
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