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TNK-BP acquires HRT Oil & Gas interest in the Solimões Basin


TNK-BP acquires HRT Oil & Gas interest in the Solimões Basin

Report summary

TNK-BP is to acquire Petra Energia's position in Brazil's Solimões Basin, comprising a 45% stake in 21 exploration blocks located deep in the Amazonas. The transaction has been expected after the operator of the acreage, HRT Oil & Gas (HRT), in May 2011 elected to exercise its right, agreed as part of a previous deal, to sell Petra's stake to a third party. Under the agreed terms, HRT will receive US$1 billion from TNK-BP over a two year period. In addition, TNK-BP ...

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  • TNK-BP acquires HRT Oil & Gas interest in the Solimões Basin PDF - 674.45 KB 5 Pages, 0 Tables, 3 Figures

Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Deal Insight report provides an in-depth analysis of this deal. You will also find information about upstream assets and the strategic rationale behind the deal.

For investors and businesses, this deal insight report provides an understanding of the effect this deal will have on the market, including oil and gas pricing and assumptions. Use it to keep up to date with deal announcements, gain expert insights and analyse potential developments that might affect your strategy.

Wood Mackenzie goes beyond company-reported data and announcements to give you an independent and informed view. Our unique valuation metrics are underpinned by our deep understanding of upstream assets and companies. We help you objectively benchmark and evaluate asset and corporate deals so you can compare deal economics around the world.

  • Executive summary
  • Transaction details
    • Background
  • Upstream assets
    • Solimões Basin
      • HRT will drive the basin's growth
      • Risks and challenges remain
  • Strategic rationale
    • TNK-BP: continued expansion into Latin America
    • Petra Energia: company compelled to sell following prior agreement with HRT

In this report there are 3 tables or charts, including:

  • Executive summary
  • Transaction details
    • Implied valuation (gross) of HRT-operated Solimoes Basin acreage
  • Upstream assets
    • HRT Solimoes Basin acreage
  • Strategic rationale
    • Brazil top ten acreage holders (post deal)
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