Deal insight

Ithaca Energy acquires Valiant Petroleum for US$459 million

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Report summary

The acquisition enhances Ithaca's existing position in the UK where Valiant's key assets are the Causeway and Don Area oil developments and gives the company entry to Norway. Valiant has been hit by a series of unsuccessful exploration wells production under performance issues and field development delays. It's share price had suffered as a result prompting the board to launch a "strategic review" in September 2012 widely interpreted as the beginning of a sale ...

What's included

This report contains

  • Document

    Ithaca Energy acquires Valiant Petroleum for US$459 million

    PDF 679.61 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 9 images and tables including:

Images

  • Wood Mackenzie production and capex forecast for Valiant
  • Wood Mackenzie valuation of Valiant assets (NPV10), excluding impact of tax allowances

Tables

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

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