Deal Insight

Sterling Resources sells its Romanian operations to Carlyle Group for US$42.5 million

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30 March 2015

Sterling Resources sells its Romanian operations to Carlyle Group for US$42.5 million

Report summary

We value the acquired assets at US$160m (NPV10, March 2013), against a purchase price of US$42.5m. The acquisition of an attractive upstream development opportunity from a company that is financially stretched is ideal for a PE firm with ample funding and existing expertise in the E&P industry. We expect that Carlyle will push the Ana & Doina development through planning and permitting, and could potentially invest up to US$400m by 2020 taking it through to production.

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 7 images and tables including:

  • Executive summary: Table 1
  • 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:

  • Document

    Sterling Resources sells its Romanian operations to Carlyle Group for US$42.5 million

    PDF 302.91 KB

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