Deal Insight
Thailand exit completes Hess' upstream repositioning
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Report summary
PTTEP is to purchase Hess' interests in Thailand for US$1 billion. The Thai NOC is already a participant in the main assets - two onshore / shallow water gas-condensate developments - and was favourite to consolidate its position from the moment that Hess signalled its intent to sell up. At US$1.1 billion, we value the portfolio at a slight premium to the purchase price. The Implied Long-term Oil Price works out at US$73/bbl - well below the current market average of US$85/bbl. ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- B12/27 (15%)
- Sinphuhorm (E5N/EU1) (35%)
- G7/50
- Deal analysis
-
Upsides and risks
- Reserves
- Exploration
- Gas Contracts
-
Strategic rationale
- Hess
- PTTEP
- Oil & gas pricing and assumptions
Tables and charts
This report includes 10 images and tables including:
- 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
- Hess interests in Thailand
- Upstream assets: Table 1
- Wood Mackenzie base production forecast (net to Hess)
- Strategic rationale: Table 1
What's included
This report contains:
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