Deal Insight
Whitecap acquires XTO's Montney and Duvernay assets for US$1.3 billion
Report summary
XTO Canada has been sold to Whitecap Resources in a Cdn$1.7 billion (US$1.3 billion) all cash transaction. The divestment process had been announced in January of this year by ExxonMobil and Imperial Oil, co-owners of the asset. It marks ExxonMobil's fourth sale of the year.Whitecap acquires a large asset base within the prolific Montney play, with many years of growth opportunities. The Canadian company is acquiring 32 kboe/d of production spilt between the Montney and Duvernay plays. This is a large 672,000 gross acre (639,000 net) relatively undeveloped position in both plays, with multi-year development potential.
Table of contents
- Executive summary
-
Transaction details
- Previous M&A
-
Upstream assets
- Montney
- Duvernay
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Deal analysis
- Discounted cash flow valuation
- Acreage metrics are favourable
- Upsides and risks
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Strategic rationale
- XTO
- Whitecap
- Oil & gas pricing and assumptions
Tables and charts
This report includes 9 images and tables including:
- Executive summary: Table 1
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- XTO Kaybob and Resthaven acreaeg position
- Upstream assets: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Deal analysis: Table 4
What's included
This report contains:
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