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Perenco acquires BP's operated Southern Gas Assets for US$400 million

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27 March 2012

Perenco acquires BP's operated Southern Gas Assets for US$400 million

Report summary

BP has announced the divestment of its operated fields in the UK Southern Gas Basin, including the Dimlington terminal, to Perenco for a consideration of US$400 million. A tax loss position of US$280 million will also be acquired by Perenco. Perenco has made an initial cash payment of US$100 million, with US$300 million payable on completion of the deal. A further US$10 million payment is contingent on future gas prices. In addition, BP will retain a 90% interest in the deeper ...

Table of contents

  • Executive summary
  • Transaction details
    • West Sole Area
    • Cleeton and Ravenspurn South
    • Ravenspurn North
    • Easington Catchment Area (ECA)
    • Amethyst
    • Dimlington Terminal
  • Deal analysis
    • Upsides
    • Risks
    • Perenco's perspective
    • BP's perspective
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 6 images and tables including:

  • Executive summary: Table 1
  • Deal analysis: Table 1
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 1
  • Wood Mackenzie NPV sensitivity analysis under Base price scenario

What's included

This report contains:

  • Document

    Perenco acquires BP's operated Southern Gas Assets for US$400 million

    PDF 376.66 KB

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