Deal Insight
PE-backed Neptune Energy makes waves with acquisition of VNG Norge
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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
Neptune Energy is to acquire 100% of the shares of VNG Norge for an initial consideration of US$352 million. VNG Norge has assets in Norway and Denmark that comprises operatorship in Fenja (30%), plus non-operated stakes in several fields including Ivar Aasen (3.02%) and Draugen (7.56%). Following the acquisition of Engie E&P in 2017, Neptune stated its ambition grow the business both organically and through M&A. VNG Norge ticks the right boxes. While the Neptune portfolio generates strong cashflow, much of the European business is mature and gassy; in VNG it has acquired an oil-heavy growing portfolio. The Fenja and Njord assets also build upon one of Neptune's three core areas in Norway.
Table of contents
- Executive summary
- Transaction details
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Upstream assets
- Norway
- Denmark
- Deal analysis
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Upsides and risks
- Upside
- Risks
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Strategic rationale
- Neptune Energy
- VNG Group
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Deal analysis: Table 1Deal analysis: Table 2
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Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2Upstream assets: Table 1
What's included
This report contains:
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