Private equity in the North Sea: getting assets into the right hands

Table of contents

• Executive summary
• The corporate landscape is changing in the North Sea
  • Who are the new kids on the blocks?
    • A major theme coming to the fore is the emergence of PE
    • What are the business strategies and where is the exit point?
    • Case studies – Siccar Point
      • Background
      • Siccar Point takes stakes in three of the four largest fields in the UK
      • Exit strategy and financials
    • Case studies - Point Resources
      • ExxonMobil sells US$1bn Norwegian operated upstream business to PE-backed Point Resources
      • Exit strategy and financials
    • Pros and cons of the new ‘North Sea mid-caps’
    • What is the value proposition in the North Sea?
      • Exploration is out of favour but there is opportunity
      • Production has historically been expensive but late-life investment could offer upside
      • North Sea mid caps Aker BP and Point Resources show the way
        • Chrysaor/Shell deal overcomes significant decommissioning hurdle
        • The ‘Apache model’ gives an indication of what can be done
        • But what are the barriers to value creation?

Tables and charts

This report includes the following images and tables:

• Number of North Sea FIDs
• Majors % of spend by region
• Overview of private equity players in the North Sea

What's included

This report contains:

• Private equity in the North Sea: getting assets into the right hands

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