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KUFPEC buys additional 15% stake in Gina Krog from Total for US$317 million


KUFPEC buys additional 15% stake in Gina Krog from Total for US$317 million

Report summary

KUFPEC has taken its stake in Gina Krog to 30%, with Total exiting. KUFPEC (which bought its initial 15% stake in this asset from Total in December 2016) grows its Norwegian business by adding 34 mmboe of reserves and 9,000 boe/d of production in 2017. Total has finally exited the field after two years of trying to so. High costs and reservoir complexity have perhaps discouraged other buyers earlier in the development cycle. The deal will help Total meet its 2015-2017 divestment target of US$10 billion and also move its production down the cost curve.

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  • KUFPEC buys additional 15% stake in Gina Krog from Total for US$317 million PDF - 287.65 KB 5 Pages, 7 Tables, 0 Figures

Description

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 Potential
    • Downside Risks
  • Strategic rationale
    • KUFPEC
    • Total
  • Oil & gas pricing and assumptions

In this report there are 7 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
    • Deal analysis: Table 3
  • 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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