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

  • Document

    Hess divests its 15.67% interest in Schiehallion to Shell

    PDF 482.39 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 8 images and tables including:

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

Tables

  • Transaction details: Table 1
  • Deal analysis: Table 1
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

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