Name: INEOS acquires DONG's upstream business for US$1.1 billion
Brand: Wood Mackenzie
SKU: 67436
Price: 1650 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Deal Insight 26 May 2017

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Report summary

On 24 May 2017, INEOS announced it had acquired DONG Energy's upstream oil and gas business for US$1,050 million and up to US$250 in contingent payments. The contingent payments are made up of US$150 million which relates to a Danish NGL stabilisation plant for the Hejre development and a further payment of US$100 million subject to the development of the Rosebank field in the UK. As part of the transaction, INEOS will take over all decommissioning liabilities.

Executive summary
Transaction details
Upstream assets
- Denmark
  - South Arne (36.78%)
  - Siri Area (100%)
  - Hejre (60%) & Solsort (35%)
  - Lulita (80%)
- Norway
  - Ormen Lange (14.02%)
  - Others
- UK
  - Greater Laggan Area (20%)
  - Rosebank (10%)
  - Others
Deal analysis
Upsides and risks
- Upside
- Risks
Strategic rationale
- INEOS
- DONG Energy
Oil & gas pricing and assumptions

Tables and charts

This report includes the following images and tables:

Executive summary: Table 1Annual production split of DONG assets by countryDeal analysis: Table 1

Deal analysis: Table 2Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2Upstream assets: Table 1