Deal Insight
Waldorf Production acquires MOL's UK portfolio for US$305 million
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The deal, announced on 23 March 2022, elevates Waldorf Production to a top 20 UK Continental Shelf producer while marking MOL’s UK upstream exit. The US$305 million consideration represents a 25% discount to our base case NPV10 valuation. Despite this, it is a fair deal for both parties. MOL will offload its decommissioning liabilities and be eligible for settlement payments via an earn-out clause linked to oil prices. The majority of our valuation is associated with Greater Catcher Area, which also offers Waldorf potential upside.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Greater Catcher Area (20%)
- Scott (21.83%), Telford Area (1.59%) and Rochelle (20.71%)
- Scolty and Crathes (50%)
- Cladhan (33.5%)
- Broom (29%)
- Deal analysis
-
Upsides and risks
- Upsides
- Risks
-
Strategic rationale
- Waldorf Production
- MOL
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and 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
What's included
This report contains:
Other reports you may be interested in
Insight
North Sea upstream electrification tracker: Q4 2024
Over 40 active and future electrification projects are tracked across Norway, the United Kingdom and the Netherlands.
$1,350
Asset Report
De Ruyter & Medway
Dana Petroleum operates the De Ruyter and Medway oil and gas fields located on the shallow-water P10 and P/11b licences in the Dutch ...
$3,720
Asset Report
Ula Pipeline
The Ula oil pipeline was originally constructed to transport oil/LPG from the Ula field to the Ekofisk centre. ...
$2,580
