Deal insight

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

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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.

What's included

This report contains

  • Document

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

    PDF 312.34 KB

Table of contents

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

Tables and charts

This report includes 8 images and tables including:

Images

  • Breagh gas production profile
  • Wood Mackenzie valuation and consideration paid

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

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