Deal Insight
Sonangol acquires Cobalt's Angola discoveries for US$1.75 billion
This report is currently unavailable
Report summary
On 24th August 2015, Sonangol and Cobalt signed an agreement for Sonangol to acquire Cobalt's 40% participating interest in blocks 21 and 20 offshore Angola for US$1.75 billion. The blocks contains five fields with commercial reserves estimated at 785 mil bbl. The deal is effective January 1, 2015 and our base case valuation of the deal is US$958 million (discounted at 10% from Jan 2015). Our valuation excludes technical reserves on the blocks of 4.7 tcf of gas and 650 mil bbl of liquids.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
-
Strategic rationale
- Cobalt
- Sonangol
- Oil & gas pricing and assumptions
Tables and charts
This report includes 8 images and tables including:
- Executive summary: Table 1
- Blocks 20 and 21
- 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:
Other reports you may be interested in
Deal Insight
Harbour Energy acquires Wintershall Dea in a reverse takeover
A transformative deal that continues the Harbour's remarkable growth story
$1,650
Country Report
Uganda upstream summary
Uganda is a frontier oil and gas country with no current production. Exploration and development is in the Albert-Edward Rift Basin, ...
$5,400
Insight
Pemex financial health: reasoning and impact on recent hydrocarbon duty government aid
Fiscal reductions have alleviated some Pemex financial struggles, but further action is required to return to self-sufficiency
$1,350
