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INPEX acquires a 7.2% interest in Lucius from Anadarko for US$556 million

INPEX acquires a 7.2% interest in Lucius from Anadarko for US$556 million

Report summary

INPEX has acquired a 7.2% stake in the Anadarko-operated Lucius field for US$556 million. Lucius is a large, Pliocene field, located in the remote southern Keathley Canyon area of the Gulf of Mexico. The field was discovered in 2009 and sanctioned for development in 2011. First production is expected in 2014. We value the deal at US$301 million (NPV10, discounted to January 2012); some way short of the purchase price. Anadarko has indicated that there is upside to the 300 mmboe assumed ...

What's included?

This report includes 1 file(s)

  • INPEX acquires a 7.2% interest in Lucius from Anadarko for US$556 million PDF - 641.79 KB 8 Pages, 5 Tables, 3 Figures


The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
    • Reserves upside
    • Development risk
    • Third party tariffs
  • Strategic rationale
    • INPEX
    • Anadarko
    • Implications for the region
  • Oil & gas pricing and assumptions

In this report there are 8 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Lucius (KC 874)
    • WoodMac production forecast for Lucius (gross)
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
  • Upsides and risks
    • WoodMac deal valuation under base (300 mmboe) and upside (450 mmboe) scenarios
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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