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7 Pages

Ithaca Energy acquires Valiant Petroleum for US$459 million

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 ...

What's included?

This report includes 1 file(s)

  • Ithaca Energy acquires Valiant Petroleum for US$459 million PDF - 679.61 KB 7 Pages, 7 Tables, 2 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
    • Upside
    • Risk
  • Strategic rationale
    • Ithaca Energy perspective
    • Valiant Petroleum perspective
  • Oil & gas pricing and assumptions

In this report there are 9 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Wood Mackenzie production and capex forecast for Valiant
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
    • Deal analysis: Table 3
    • Wood Mackenzie valuation of Valiant assets (NPV10), excluding impact of tax allowances
  • Upsides and risks
  • 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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