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Statoil acquires a 12% equity stake in Lundin for US$540 million

Statoil acquires a 12% equity stake in Lundin for US$540 million

Report summary

Statoil has acquired an 11.93% equity stake in Stokholm-listed Lundin Petroleum. No new equity was issued; the stock was acquired in the open market. The acquisition adds to Statoil's core portfolio in Norway at what could be a low point in the price cycle. With the Lundin family still controlling 31.4% of the company, the move effectively heads-off any threat of a rival bid for Lundin, and gives Statoil a position from which it might build a bigger stake over time. The deal signals Statoil's confidence in the Johan Sverdrup project, which is a crucial project for both companies. The deal may also help align interests in the Barents, where a joint development between Statoil's Johan Castberg and Lundin's Gohta and Alta discoveries could improve the economics of both areas.

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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
    • Johan Sverdrup
    • Edvard Grieg
    • Other assets
    • Exploration and appraisal
  • Deal analysis
  • Upsides and risks
    • Barents sea
    • Johan Sverdrup
  • Strategic rationale
  • Oil & gas pricing and assumptions

In this report there are 7 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
    • Deal analysis: Table 3
  • 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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