Deal Insight
Ophir to acquire Salamander
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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 24 November 2014, Salamander and Ophir announced the terms of a recommended all-share deal valuing Salamander at US$828 million (based on Ophir's closing price on 20 November). Based on our analysis of the target company, this puts the deal at an Implied Long-term Oil Price of ca. US$85/bbl. Although strong investor appetite has led to a resurgence in South East Asia M&A over the last 18 months, Salamander has done well to get this deal away in the current oil price environment.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- B8/38 (Bualuang)
- E5 & EU1 (Sinphuhorm)
- Bangkanai PSC
- Deal analysis
-
Upsides and risks
- Bualuang
- Sinphuhorm
- Bangkanai
-
Strategic rationale
- Salamander Energy
- Ophir Energy
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Image 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
What's included
This report contains:
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