Deal Insight
Hess divests its 15.67% interest in Schiehallion to Shell
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Report summary
Hess has announced the divestment of its interests in the BP-operated Schiehallion field and the Schiehallion FPSO vessel in the UK West of Shetlands region. The consideration is undisclosed. Schiehallion is on the cusp of a major redevelopment programme, sanctioned in July 2011, that will see the installation of a new-build FPSO, new subsea infrastructure and an intensive drilling programme. The Quad 204 project will require US$3.3 billion of investment between 2013 and 2017, and push ...
What's included
This report contains
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
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Upsides and risks
- Upside
- Risks
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Strategic rationale
- Hess
- Shell
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
Tables
- Transaction details: Table 1
- Deal analysis: Table 1
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
Images
- Wood Mackenzie modelling assumptions for Schiehallion - production and capex (gross)
- Valuation of Schiehallion deal vs. other UK deals (oil focused, > US$200 million)
- Commercial Asset Value Sensitivities (PV10)
- Wood Mackenzie valuation (NPV10) of Shell UK portfolio, discounted to 2012 and 2017
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