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Rockhopper's offer represents a 16% premium to MOG's market price. Yet our valuation is materially higher than the purchase price. The discount reflects the substantial risks MOG faces with its commercial portfolio in Italy, namely the technically challenging and complex Ombrina Mare development. Should Rockhopper manage to navigate this project to production, it stands to generate considerable value from this deal.
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Rockhopper enters Europe via US$32 million cash and share acquisition of Mediterranean Oil & Gas PDF - 289.96 KB 4 Pages, 2 Tables, 0 Figures
Description
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.
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Deal insight | May 2014
Rockhopper enters Europe via US$32 million cash and share acquisition of Mediterranean Oil & Gas
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