Deal Insight
Perenco acquires BP's operated Southern Gas Assets for US$400 million
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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
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
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Upstream assets
- West Sole Area
- Cleeton and Ravenspurn South
- Ravenspurn North
- Easington Catchment Area (ECA)
- Amethyst
- Dimlington Terminal
- Deal analysis
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Upsides and risks
- Upsides
- Risks
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Strategic rationale
- Perenco's perspective
- BP's perspective
- 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 1Oil & gas pricing and assumptions: Table 1
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Oil & gas pricing and assumptions: Table 2Upstream assets: Table 1Wood Mackenzie NPV sensitivity analysis under Base price scenario
What's included
This report contains:
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