Deal Insight

Ithaca Energy acquires Valiant Petroleum for US$459 million

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01 March 2013

Ithaca Energy acquires Valiant Petroleum for US$459 million

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 ...

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
    • Upside
    • Risk
    • Ithaca Energy perspective
    • Valiant Petroleum perspective
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 9 images and tables including:

  • Executive summary: Table 1
  • Wood Mackenzie production and capex forecast for Valiant
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Wood Mackenzie valuation of Valiant assets (NPV10), excluding impact of tax allowances
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Ithaca Energy acquires Valiant Petroleum for US$459 million

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