Deal insight

Shell sells $3 bn UK asset package to Chrysaor: an in-depth view

Loading current market price

Get this report

Loading current market price

Get this report as part of a subscription

Enquire about Subscriptions

Already have subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

Contact us about this report

Report summary

This is the largest UK deal since 2010 and largest private equity acquisition since the oil price crash globally: a significant transaction for both participants and the wider UK asset market. Chrysaor will pay US$3 billion potentially rising to US$3.8 billion contingent upon future exploration results and commodity prices. The acquired portfolio comprises 24 producing assets at various stages of the life cycle one under development field and exploration acreage. Key assets are Buzzard Schiehallion Beryl and Elgin & Franklin. Shell will be happy to get the deal away: executing a UK disposal quickly and at acceptable value was always going to be challenging in a 'stuck' M&A market. PE backed Chrysaor meanwhile is catapulted to the position of third largest producer in the UK (we model acquired production of 120 000 boe/d in 2017).

What's included

This report contains

  • Document

    Shell sells $3 bn UK asset package to Chrysaor: an in-depth view

    PDF 309.81 KB

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 5 images and tables including:

Images

  • WoodMac modelling assumptions: net production and capex
  • Top five UK producers' average production 2017-2020

Tables

  • Upstream assets: Table 1
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

Questions about this report?

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