Deal Insight
Total to acquire a 25% stake in Chesapeake’s Barnett Shale portfolio for US$2.25 billion
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Report summary
Total and Chesapeake have reached agreement to form a JV that will see Total acquire 25% of Chesapeake's interests in the Fort Worth Barnett Shale. The total consideration is US$2.25 billion, comprising US$800 million in cash at closing and US$1.45 billion in future drilling and completion cost-carries. Under our base case assumptions, Wood Mackenzie values the acquired portfolio at US$1.8 billion (NPV10). Against the US$2.25 billion consideration, this equates to an implied ...
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
- Upsides and risks
-
Strategic rationale
- Total
- Chesapeake
- Oil & gas pricing and assumptions
Tables and charts
This report includes 9 images and tables including:
- Executive summary: Table 1
- Chesapeake country interests, Fort Worth Basin, Texas
- Upstream assets: Table 1
- Wood Mackenzie modelling forecasts and assumptions for Chesapeake Barnett Shale portfolio (net 25%)
- 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
What's included
This report contains:
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