Deal Insight
SOCO International acquires Merlon Petroleum for US$237 million
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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
SOCO International announced the acquisition of Merlon Petroleum El Fayoum Company for a total consideration of US$237 million. SOCO will acquire a 100% stake in the Fayoum fields in the Western Desert giving it access to 24 mmbbls of 2P oil reserves and 37 mmbbls of contingent resources. The fields currently produce 7,000 b/d but with increased waterflooding and further development drilling could reach 15,000 b/d next decade. The purchase of the Fayoum fields gives SOCO access to low risk, cashflow accretive production with contingent resources and exploration upside. Existing production means that future development costs to produce contingent resource are self-funding through the cost recovery mechanism within Egypt's Production Sharing Contracts (PSCs).
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
-
Strategic rationale
- SOCO International
- Merlon International
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
- Executive summary: Table 1
- Upstream assets: Table 1
- 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
What's included
This report contains:
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