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Deal Insight

Noble sells its deepwater GoM assets to Fieldwood Energy

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26 February 2018

Noble sells its deepwater GoM assets to Fieldwood Energy

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
    • 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
    • Risks
    • Fieldwood
      • Fieldwood US GoM assets
      • Adding oil to a gassy portfolio
      • Shelf lacks room to grow
    • Noble
      • Growth - it's all relative
    • Implications for GoM
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

  • 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:

  • Document

    Noble sells its deepwater GoM assets to Fieldwood Energy

    PDF 2.85 MB