Deal Insight
Glencore Xstrata acquires Chad-focused Caracal Energy for US$1.6 billion
This report is currently unavailable
Report summary
Caracal's asset base includes the onstream Mangara-Badila development, with estimated gross reserves of 110 mmbbl, and production of 16,500 b/d in 2014. Glencore already holds 35% of this development, and will increase its stake to 85%. The portfolio also extends over around 26,000km2 of exploration acreage. We value Caracal's commercial assets at US$1.1 billion, against a net consideration of US$1.6 billion. Our valuation excludes the Krim and Kibea fields, which we classify as technical.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Onstream
- Discoveries
- Exploration
- Deal analysis
- Upsides and risks
-
Strategic rationale
- Caracal
- Glencore Xstrata
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Acquired blocks and Glencore portfolio post-deal
- Upstream assets: Table 1
- Glencore Xstrata and Caracal combined production forecast (entitlement basis)
What's included
This report contains:
Other reports you may be interested in
Insight
Global upstream M&A in brief
The global upstream M&A in brief provides the Wood Mackenzie view on all of the key M&A events as they unfold.
$1,350
Insight
Eni makes Calao discovery in ultra-deepwater Cote d’Ivoire
Second largest find in Cote d'Ivoire encounters light oil, gas, and condensates in Cenomanian reservoirs
$1,350
Insight
2024 guidance: upstream companies' capital budgets and production targets
Rolling company guidance tracker with 2024 investment plans and volume targets
$1,350