Deal insight

Total agrees acquisition of UTS Energy

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Report summary

Total has reached agreement to acquire UTS Energy and its primary asset, a 20% stake in the Fort Hills mining project - one of the best remaining mineable opportunities in the Athabasca oil sands region. The deal will cement Total's position as a leading player in the oil sands, securing an additional source of long-term production and reserves growth. UTS shareholders will receive a 46% premium to the prior day closing price, and retain a stake in a new high-growth exploration and ...

What's included

This report contains

  • Document

    Total agrees acquisition of UTS Energy

    PDF 366.18 KB

Table of contents

  • Executive summary
  • Transaction details
    • UTS' participation has evolved through a series of 'earn-in' arrangements
    • Development has been on hold since 2008
    • The long-term bitumen differential is a key valuation sensitivity
  • Upsides and risks
    • Total
    • UTS
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

Tables

  • 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
  • Upstream assets: Table 1

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