Deal Insight

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

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02 July 2012

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 ...

Table of contents

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

Tables and charts

This report includes 8 images and tables including:

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

What's included

This report contains:

  • Document

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

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