Deal insight

Shell acquires BG: an in-depth view

This report is currently unavailable

Further information

Contact us

Submit your details to receive further information about this report.

  • An error has occurred while getting captcha image
For details on how your data is used and stored, see our Privacy Notice.

Report summary

The strategic drivers for Shell are clear and compelling: the deal establishes it as the leading player globally in both deep water and LNG. Deal economics are equally attractive: we value BG at US$84 billion (NPV10), or an Implied Long-term Oil Price of US$85/bbl.

What's included

This report contains

  • Document

    Shell acquires BG: an in-depth view

    PDF 356.77 KB

Table of contents

Tables and charts

This report includes 11 images and tables including:


  • 1) WoodMac base forecast for BG production; 2) WoodMac base valuation of BG upstream portfolio
  • Shell / BG upstream portfolio overlap, WoodMac NPV10: 1) by country; 2) by resource theme
  • Shell BG combined vs. peers based on: 1) production; 2) total resource
  • 1) Share price performance (relative) and; 2) market premium / discount to WoodMac valuation


  • 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
  • Appendix 1 - BG portfolio base modelling and valuation

Questions about this report?

    • Europe:
      +44 131 243 4699
    • Americas:
      +1 713 470 1900
    • Asia Pacific:
      +61 2 8224 8898