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Statoil sells stakes in assets offshore Norway, and West of Shetlands, to OMV, for US$2.65 billion

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Report summary

OMV will acquire interests in the Gullfaks and Gudrun fields in the Norwegian North Sea and in the Schiehallion and Rosebank fields West of Shetlands. According to the parties involved the divested assets produced 26 000 boe/d in 2013 and hold reserves of approximately 320 mmboe.We value the assets acquired at US$2.2 billion which implies a long term oil price of US$100/bbl. Though there are potential upsides to our modelled base case OMV has indicated that it assumed a US$100/bbl ...

What's included

This report contains

  • Document

    Statoil sells stakes in assets offshore Norway, and West of Shetlands, to OMV, for US$2.65 billion

    PDF 1.94 MB

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 9 images and tables including:

Images

  • Premium of consideration paid Vs Wood Mackenzie NPV10 base valuation
  • OMV Production and Capex forecast

Tables

  • Executive summary: 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
  • Upstream assets: Table 1

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