Statoil acquires Bakken focused Brigham for US$4.7 billion Report

Deal Insight 17 October 2011

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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

Statoil has announced the acquisition of Brigham Exploration for US$4.7 billion. The move positions the Norwegian giant as a major operator in the Bakken Shale - one of the leading tight oil plays in North America. This is by far the largest tight oil focussed deal to date, the first significant transaction by a Major, and a clear illustration of the intense industry interest in this burgeoning sector. Brigham holds 375,000 net acres of Tier 1 acreage in North Dakota and Montana. The ...

Executive summary
Transaction details
Upstream assets
Deal analysis
- Wood Mackenzie modelling assumptions
- Volumes
- Costs
- Transport
- Bakken corporate landscape
Strategic rationale
- Further acquisitions in unconventionals are probable
- Disposals elsewhere in the portfolio are possible
Oil & gas pricing and assumptions

Tables and charts

This report includes the following images and tables:

Transaction details: Table 1
Upstream assets: Table 1
Upstream assets: Table 2

Brigham wells targeting the Bakken
Deal analysis: Table 1
Oil & gas pricing and assumptions: Table 1
Oil & gas pricing and assumptions: Table 2
Wood Mackenzie forecasts for Statoil Bakken production and capex; and company level capex
Wood Mackenzie valuation sensitivities
Bakken acreage costs (unadjusted)
Top acreage holders in the Bakken