Deal Insight
ExxonMobil sells UK assets to NEO Energy for over US$1bn
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
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- ExxonMobil
- NEO Energy
- Oil & gas pricing and assumptions
Tables and charts
This report includes 7 images and tables including:
- Executive summary: Table 1
- Upstream assets: 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
What's included
This report contains:
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