Deal insight

Oxy acquires South Texas assets from Shell for US$1.8 billion

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Report summary

Oxy is to acquire assets in South Texas from Shell for US$1.8 billion. The gas weighted assets produce 200 mmcfed from 550 wells targeting the Frio and Vicksburg formations. Oxy will also acquire associated midstream interests. Wood Mackenzie values the upstream assets at US$1.6 billion (NPV10 discounted to 1 January 2011). This deal represents another step in Oxy's wider move to re focus its long term strategy domestically. The US$5.3 billion of US asset acquisitions in 2010 is ...

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  • Document

    Oxy acquires South Texas assets from Shell for US$1.8 billion

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Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

Images

  • Implied Long-term Gas Price sensitivities adjusted for value of midstream component *

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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