Deal Insight
Whitecap acquires Canadian light oil properties from Imperial
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Report summary
Canadian midcap Whitecap Resources will acquire BC / Cardium assets from Imperial Oil for US$627 million. Acquired production of 6,500 boe/d (83% liquids) will increase Whitecap's existing production base by approximately 23%. We value the assets at US$606 million, yielding an implied long-term oil price of US$87/bbl. Though Whitecap will pay close to full value for the assets, successful application of secondary recovery techniques and/or operational efficiency gains could unlock value upside.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- West Pembina
- Ferrier/Willesden Green - Rocky Mountain House
- Boundary Lake, Northeast British Columbia
- Additional transaction with Keyera
- Deal analysis
- Strategic rationale
- Oil & gas pricing and assumptions
Tables and charts
This report includes 9 images and tables including:
- 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
- Cardium Pembina West - IP rates by operator
- Upstream assets: Table 1
- Upstream assets: Table 2
What's included
This report contains:
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