Deal Insight
Oranje-Nassau grabs bargain as distressed Sterling Resources sells its UK business at a discount
Report summary
Canadian-listed Sterling Resources has announced the sale of the UK arm of its business, for US$163 million. This is the third notable North Sea deal announced in 2017, and will bring the total value traded to around US$4 billion, with further deals in the pipeline. Following shareholder approval and subsequent deal completion, Sterling Resources will be wound up. Conversely, Oranje-Nassau Energie has been looking to grow its portfolio in the Southern North Sea. This gas-centric deal follows the acquisition of an interest in the Sean field from Shell in 2015.
Table of contents
- Executive summary
- Upstream assets
- Deal analysis
-
Strategic rationale
- Oranje-Nassau Energie
- Sterling Resources
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- Executive summary: Table 1
- Upstream assets: Table 1
- Breagh gas production profile
- Wood Mackenzie valuation and consideration paid
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
