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

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$1,650.00

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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 ...

What's included

This report contains

  • Document

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

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Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Strategic rationale

Tables and charts

This report includes 3 images and tables including:

Images

  • Implied valuation (gross) of HRT-operated Solimoes Basin acreage
  • Brazil top ten acreage holders (post deal)
  • HRT Solimoes Basin acreage

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