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Oranje-Nassau grabs bargain as distressed Sterling Resources sells its UK business at a discount


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.

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  • Oranje-Nassau grabs bargain as distressed Sterling Resources sells its UK business at a discount PDF - 314.76 KB 5 Pages, 6 Tables, 2 Figures

Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Upstream assets
  • Deal analysis
  • Strategic rationale
    • Oranje-Nassau Energie
    • Sterling Resources
  • Oil & gas pricing and assumptions

In this report there are 8 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Upstream assets
    • Upstream assets: Table 1
    • Breagh gas production profile
  • Deal analysis
    • Wood Mackenzie valuation and consideration paid
    • Deal analysis: Table 1
    • Deal analysis: Table 2
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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