Deal Insight
Reliance to pay US$1.3 billion for a stake in Pioneer's Eagle Ford acreage
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Report summary
Reliance has announced the acquisition of a 45% stake in Pioneer Natural Resources' Eagle Ford Shale acreage. The consideration is US$1,315 million: US$263 million to be paid as cash at closing with the balance to be paid as 75% of Pioneer's drilling costs through 2012. Our base case valuation of the acquired interests (excluding cost carry) is US$1 billion. This equates to an Implied Long-term Oil Price of US$80/bbl, or an implied long-term Henry Hub gas price of US$6.75/mcf ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Eagle Ford Shale
- Deal analysis
-
Upsides and risks
- Liquids production
- Gathering and processing infrastructure
- Service costs
- Costs
-
Strategic rationale
- Reliance
- Pioneer
- Oil & gas pricing and assumptions
Tables and charts
This report includes 9 images and tables including:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
- Implied long-term oil price sensitivities under different liquids stream modelling scenarios
- Upsides and risks: Table 1
What's included
This report contains:
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