Deal Insight

First deepwater GoM deal of 2011 as Plains sells 20% of its portfolio

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Report summary

EIG Global Energy Partners is to acquire a 20% equity interest in Plains E&P's Gulf of Mexico (GoM) subsidiary for an effective consideration of US$360 million. The portfolio comprises one commercial asset - Lucius - and exploration acreage spanning 100 offshore blocks, prospective for Pliocene and Miocene discoveries. The deal places a value on Plains' GoM portfolio of US$1.8 billion.This is the first deepwater GoM divestment in 2011. Plains E&P - the only company to have ...

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    First deepwater GoM deal of 2011 as Plains sells 20% of its portfolio

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Table of contents

Tables and charts

This report includes 7 images and tables including:

Tables

  • Executive summary: Table 1
  • Deal analysis: Table 1
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 1

Images

  • Inferred breakdown of value and reserves (commercial vs. upside) at base and high oil price scenarios
  • Plains western GoM acreage

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