Deal insight

Hess acquires Noreco's interest in South Arne for US$200 million

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Report summary

Norwegian independent Noreco has announced the divestment of its interest in the Danish South Arne field to Hess Corporation in exchange for a cash consideration of US$200 million. The deal is the latest in a series of divestments by Noreco aimed at reducing capital commitments and stabilising the company's financial position. For Hess the acquisition is an opportunistic move to consolidate its interest in one of the company's key assets outside of North America. Under our base ...

What's included

This report contains

  • Document

    Hess acquires Noreco's interest in South Arne for US$200 million

    PDF 425.27 KB

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 9 images and tables including:

Images

  • Wood Mackenzie valuation - production and discount sensitivity
  • South Arne - Production vs costs (gross)
  • Noreco - estimated capital commitments and production

Tables

  • 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
  • Upstream assets: Table 1

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