Plains acquires deepwater GoM assets from BP for US$5.6 billion Report

Deal Insight 10 September 2012

This report is currently unavailable

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

Report summary

Plains is to acquire a portfolio of BP assets in deepwater Gulf of Mexico for US$5.55 billion. The assets include interests in three BP-operated platforms that have been onstream since as early as 1999: Holstein, Horn Mountain and Marlin hub, which includes the Marlin, Dorado and King fields. The agreement also includes non-operated stakes in the Hoover/Diana and Ram Powell platforms and underlying fields. We value the position acquired by Plains at US$4.3 billion (NPV10, discounted to ...

Executive summary
Transaction details
Upstream assets
- Holstein
- Horn Mountain
- Marlin Hub
- Hoover/Diana
- Ram Powell
Deal analysis
Upsides and risks
- Near-field development prospects and effective use of EOR provide upside
- Lower reserves from near-field prospects and cashflow represents risk
Strategic rationale
- Plains Exploration & Production
- BP
Oil & gas pricing and assumptions

Tables and charts

This report includes 8 images and tables including:

Executive summary: Table 1
Deepwater Gulf of Mexico assets in the BP Plains transaction
Deal analysis: Table 1

Deal analysis: Table 2
Oil & gas pricing and assumptions: Table 1
Oil & gas pricing and assumptions: Table 2
Upstream assets: Table 1
Production (net) from acquired assets: post-2012 WoodMac forecasts vs. Plains target