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6 Pages

Siccar Point Energy enters UK upstream with acquisition of 8.9% stake in Mariner from JX Nippon

Siccar Point Energy enters UK upstream with acquisition of 8.9% stake in Mariner from JX Nippon

Report summary

This is Siccar Point’s first acquisition since launching in 2014, and the first big move into the UK North Sea upstream by a private equity-backed player. The Statoil-operated Mariner heavy oil field is one of the largest projects currently under development in the UK – we estimate commercial reserves of 347 mmbbl. Crude and reservoir properties are challenging, and it has already been delayed by 12 months. No consideration was disclosed. We value the deal on an NPV10 basis, but Siccar Point most likely require a higher return - achieving this (by paying less) should have been possible in a weak market for UK pre-production assets.

What's included?

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  • Siccar Point Energy enters UK upstream with acquisition of 8.9% stake in Mariner from JX Nippon PDF - 292.07 KB 6 Pages, 6 Tables, 0 Figures


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.

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
    • Upsides
    • Risks
  • Strategic rationale
    • Siccar Point Energy
    • JX Nippon
  • Oil & gas pricing and assumptions

In this report there are 6 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Transaction details
  • Upstream assets
    • Upstream assets: Table 1
  • Deal analysis
    • Deal analysis: Table 1
    • Deal analysis: Table 2
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions
    • Oil & gas pricing and assumptions: Table 1
    • Oil & gas pricing and assumptions: Table 2
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