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Sound Energy buys Morocco's O&G Investment Fund's eastern assets for US$317m


Sound Energy buys Morocco's O&G Investment Fund's eastern assets for US$317m

Report summary

Sound Energy is set to acquire a further 20% interest in the Tendrara exploration block in northeast Morocco after agreeing a deal with Morocco's Oil and Gas Investment Fund's (OGIF). Upon completion of the deal, Sound Energy will increase its stake in Tendrara to 75%. In addition, Sound Energy has the right to apply for a 75% interest in some relinquished areas of the Tendrara licence. The deal also gives Sound Energy a 75% interest in the adjacent Meridja reconnaissance licence and crucially, the right to apply for an exploration permit. The transaction will be the biggest upstream deal in Morocco to date. In exchange, OGIF will receive shares in Sound Energy worth US$317 million.

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Description

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
  • Strategic rationale
  • 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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