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 ...

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This report contains

  • Document

    Hess divests its 15.67% interest in Schiehallion to Shell

    PDF 482.39 KB

Table of contents

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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