Deal Insight
Seplat Energy's US$1.3 billion Nigeria deal with ExxonMobil at risk from NNPC pre-emption
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Seplat’s transformational acquisition was announced one week ago. Reports of NNPC’s intervention have thrown the deal into uncertainty and could scupper Seplat’s expansion into Nigeria’s offshore. Read our Deal Insight for a detailed analysis of the valuation metrics and to understand: • What the deal could mean for either company? • Why might NNPC be keen to pre-empt? • How would this fit with NNPC’s wider acquisition strategy?
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- OML 70
- OML 67
- OML 68
- OML 104
- Deal analysis
-
Upsides and risks
- NNPC pre-emption
- Resource upside and gas monetisation
- Petroleum Industry Act
- High cost, high emissions assets
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- 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
What's included
This report contains:
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