Deal insight

Lundin Petroleum acquires 15% in Edvard Grieg - Statoil receives Lundin equity

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Report summary

Lundin is acquiring Statoil's 15% stake in the Edvard Grieg field offshore Norway. In return Statoil will receive an increased equity interest in Lundin. We calculate that each deal has been done at a premium to our underlying base case NPVs. But as a swap deal the net effect is more neutral; relative to our valuations Lundin has overpaid for Edvard Grieg using its own overvalued equity. The fact that both parties have validated higher valuations suggests confidence in key assets.

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    Lundin Petroleum acquires 15% in Edvard Grieg - Statoil receives Lundin equity

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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 8 images and tables including:

Tables

  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Deal analysis: Table 4
  • Upstream assets: Table 1
  • Upstream assets: Table 2

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