Deal Insight
Sumitomo acquires a 30% interest in Devon Energy's Cline Shale and Wolfcamp Shale assets
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Report summary
Sumitomo has entered into an agreement with Devon Energy to acquire a 30% working interest in Devon's Wolfcamp and Cline shale acreage in the Permian Basin. The nominal consideration of the deal is US$1.365 billion, making this the largest transaction in the emerging Wolfcamp Shale to date.The Permian has always been a major oil producing Basin in the US, and as such, it has become the focus of operators as they abandon gas plays in a frantic flight to oil. The emerging Wolfcamp and ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Wolfcamp Shale
- Cline Shale
-
Deal analysis
- Modelling assumptions
- Type wells
-
Upsides and risks
- Improved well performance and increasing well inventory provide upside
- Uncertain results and cost inflation increase risk
-
Strategic rationale
- Sumitomo
- Devon
- Oil & gas pricing and assumptions
Tables and charts
This report includes 7 images and tables including:
- Executive summary: Table 1
- Wolfcamp and Cline shales in West Texas
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Wood Mackenzie modelling assumptions for Production and 2P Commercial Reserves
What's included
This report contains:
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