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8 Pages

Pioneer Natural Resources sells its Alaska business unit to Caelus Energy for US$300 million

Pioneer Natural Resources sells its Alaska business unit to Caelus Energy for US$300 million

Report summary

Caelus will pay US$550 million for the North Slope assets. Given Oooguruk's potential and our US$902 million valuation, this could prove to be a bargain price. But operational challenges remain; a more conservative scenario with only proven reserves modelled yields a US$403 million valuation. Newly enacted tax terms also remain subject to possible repeal; their removal results in more than a US$200 million decrease to our base case Oooguruk valuation.

What's included?

This report includes 1 file(s)

  • Pioneer Natural Resources sells its Alaska business unit to Caelus Energy for US$300 million PDF - 3.21 MB 8 Pages, 8 Tables, 1 Figures


The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
  • Upstream assets
    • Oooguruk: the flagship asset
    • Nuna field adds a potential onshore development
  • Deal analysis
  • Upsides & risks
  • Strategic rationale
    • Pioneer Natural Resources redeploys capital to Permian Wolfcamp
    • Caelus Energy LLC attains a producing presence with growth potential
  • Oil & gas pricing and assumptions

In this report there are 9 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Pioneer's Alaska assets - a contiguous lease position on Beaufort Sea shelf
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
    • Deal analysis: Table 3
    • Deal analysis: Table 4
  • Upsides & risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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