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


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

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 ...

What's included?

This report includes 1 file(s)

  • First deepwater GoM deal of 2011 as Plains sells 20% of its portfolio PDF - 537.84 KB 7 Pages, 5 Tables, 2 Figures

Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
    • Wood Mackenzie modelling methodology
  • Upstream assets
    • Exploration interests
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
    • Plains
    • EIG
    • Implications for the region
  • Oil & gas pricing and assumptions

In this report there are 7 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Plains western GoM acreage
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
  • Upsides and risks
    • Inferred breakdown of value and reserves (commercial vs. upside) at base and high oil price scenarios
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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