Deal insight

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

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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 ...

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

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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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