Deal Insight
Noble sells its deepwater GoM assets to Fieldwood Energy
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
On 15 February 2018, Noble Energy, Inc. announced an agreement to sell all of its deepwater Gulf of Mexico assets to Fieldwood Energy, LLC for US$480 million in cash. Fieldwood will assume US$230 million in abandonment liabilities. The deal is funded as part of a prepackaged Chapter 11 bankruptcy filing which will allow Fieldwood to continue operating while shedding debt and acquiring new cash flow. The restructuring plan is sponsored by majority owner, Riverstone, and does not include any ...
Table of contents
- Executive summary
- Transaction details
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Upstream assets
- Gunflint (31.14% and operator, remaining reserves: 36.7 mmboe gross)
- Big Bend (54% and operator, remaining reserves: 10.8 mmboe gross)
- Dantzler (45% and operator, remaining reserves: 14.7 mmboe gross)
- Other Noble US GoM assets
- Deal analysis
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Upsides and risks
- Risks
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Strategic rationale
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Fieldwood
- Fieldwood US GoM assets
- Adding oil to a gassy portfolio
- Shelf lacks room to grow
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Noble
- Growth - it's all relative
- Implications for GoM
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Fieldwood
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Noble Energy US GoM assets
- Upstream assets: Table 1
What's included
This report contains:
