Deal Insight

Wintershall and DEA combine

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18 October 2018

Wintershall and DEA combine

Report summary

Wintershall and DEA are set to combine, forming Europe's largest independent E&P company. Both companies are internationally diverse, with strong European hubs and a pronounced focus on gas production. Each is based in Germany and the combined positions in the country offers perhaps the most scope for synergies. A future IPO seems likely. The combined entity would immediately become one of the largest European-listed producers – currently behind only the Majors and Repsol. Wintershall DEA is targeting production of between 750,000 and 800,000 boe/d in the early 2020's.

Table of contents

  • Executive summary
  • Transaction details
    • Overlapping interests
      • Norway
      • Germany
    • DEA's portfolio
      • Norway
      • Egypt
      • Germany
      • Mexico
      • Algeria
      • Denmark
    • Wintershall's portfolio
      • Russia
      • Norway
      • Argentina
      • Germany
      • Other Europe
      • Libya
      • Brazil
  • Deal analysis
    • Wintershall
    • DEA
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 8 images and tables including:

  • Upstream assets: Table 1
  • Annual entitlement production split by company and country*
  • Deal analysis: Table 1
  • Wintershall DEA cash flow and capex
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 2
  • Upstream assets: Table 3

What's included

This report contains:

  • Document

    Wintershall and DEA combine

    PDF 795.68 KB