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Udenna Corp. acquires SC38 (Malampaya) from Chevron

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21 November 2019

Udenna Corp. acquires SC38 (Malampaya) from Chevron

Report summary

Philippine conglomerate Udenna Corp has acquired Chevron's 45% stake in Service Contract 38, which powered 30% of Luzon's electricity last year. We value the asset at US$650 million, plus an additional US$68 million if the contract is extended. The deal will kickstart Udenna's ambitions to become an integrated gas player in the Philippines. Udenna joins the growing list of local companies who have become the region's most prolific group of acquirers in recent years.

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 8 images and tables including:

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Upsides and risks: Table 1
  • Upsides and risks: Table 2
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Udenna Corp. acquires SC38 (Malampaya) from Chevron

    PDF 751.79 KB

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