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

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10 May 2016

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
    • Assets acquired by Lundin
      • Edvard Grieg
    • Assets acquired by Statoil
      • Johan Sverdrup
      • Other assets
      • Exploration and appraisal
    • Edvard Grieg
    • Statoil's stake in Lundin
    • Edvard Grieg
    • Johan Sverdrup
    • Barents Sea
    • 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:

  • Document

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

    PDF 307.22 KB

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