Deal Insight
Premier Oil acquires E.ON's UK upstream portfolio for US$120 million
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The price tag may be small, but the implications of this deal for the UK M&A market are big. Premier has acquired immediate production in a core area at a significant discount to our commercial valuation. The low price achieved demonstrates the difficulty of finding buyers in the current M&A market and the extent to which sellers may need to compromise on valuation. E.ON is retaining a portion of abandonment liabilities in Ravenspurn North and Johnston – a fact which underscores an additional hurdle for mature asset deals in the UK. Other players seeking to make similar disposals - either for strategic reasons or out of necessity – will be hugely disheartened to see this valuation.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Upstream assets: Table 1
- Deal analysis: Table 1
- Comparable consideration metrics: UK asset packages; asset status - late life or mixture
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
Other reports you may be interested in
Asset Report
Hungary other fields
This report provides reserve and production data for commercial fields in Hungary that are not currently modelled in a detailed asset ...
$3,720
Asset Report
Breagh
The Breagh gas field lies 65 kilometres off the east coast of Yorkshire. It is the key operated asset in INEOS's UK upstream ...
$5,280
Asset Report
Gassled-Europipe I
Europipe I runs 660 kilometres from the Draupner-E riser platform, to a receiving terminal at Dornum in Germany.
$2,580
