Deal Insight
Lundin Petroleum acquires 15% in Edvard Grieg - Statoil receives Lundin equity
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.
Table of contents
- Executive summary
- Transaction details
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Upstream assets
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Assets acquired by Lundin
- Edvard Grieg
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Assets acquired by Statoil
- Johan Sverdrup
- Other assets
- Exploration and appraisal
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Assets acquired by Lundin
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Deal analysis
- Edvard Grieg
- Statoil's stake in Lundin
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Upsides and risks
- Edvard Grieg
- Johan Sverdrup
- Barents Sea
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Strategic rationale
- Lundin Petroleum
- Statoil
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- 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
What's included
This report contains:
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