Deal Insight
Perenco acquires BP's operated Southern Gas Assets for US$400 million
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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
-
Upstream assets
- West Sole Area
- Cleeton and Ravenspurn South
- Ravenspurn North
- Easington Catchment Area (ECA)
- Amethyst
- Dimlington Terminal
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- 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:
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