M&A - Deal analysis
(Originally posted August 14, 2023) On Monday, Strike Energy announcing that they have agreed to acquire Talon Energy. The companies have entered into a binding Scheme Implementation Deed under which Strike will acquire all the issued shares in Talon by way of a Scheme of Arrangement. From my calculations based
M&A - Deal analysis
(Originally published on August 11, 2023) On Thursday, Harbour Energy announced that they have entered into a sale and purchase agreement to divest their 53.125% operated stake in Block 12W in Vietnam to Big Energy, a newly established, dedicated oil and gas business in Vietnam and has been active
M&A - Deal analysis
(Originally published on August 8, 2023) Today, Woodside Energy have announced that they have entered into a sale and purchase agreement to divest a 10% stake in the Scarborough project to LNG Japan, a 50:50 JV between Sumitomo Corporation and Sojitz Corporation. The deal has an effective date of
M&A - Deal analysis
(Originally published on July 31, 2023) Last week's IPA conference in Jakarta was full of positive news. I have already looked at the Abadi deal, which was closely followed by the announcement that the long-rumoured deal for Eni to acquire Chevron's remaining upstream assets in Indonesia
M&A - Deal analysis
(Originally published on July 25, 2023) So there we have it, Shell have announced a deal to divest their 35% interest in the Masela PSC to Pertamina (20%) and PETRONAS (15%) for a headline $650 million ($325 million on completion and $325 million at FID). I had suspected that we
M&A - Deal analysis
(Originally published July 11, 2023) It would appear that the eternal wait for progress on the Abadi LNG project in Indonesia may almost be over, with Pertamina reportedly be set to acquire Shell's 35% stake in the Masela PSC that contains the Abadi gas field. Why are Shell
M&A - Quarterly - Australasia
(Originally published on July 2, 2023) After a Q1 that saw more action than the cast of an Expendables movie, Q2 has been much more aligned with the underlying trend with four asset deals in the region. Two in Australia, one in New Zealand and one in PNG. A transaction
M&A - Quarterly - Southeast Asia
(Originally posted on July 2, 2023) The second quarter of 2023 has seen more slow but consistent deal-flow in the region. The chart below summarises the deals announced in the quarter: It should be noted that there are a number of deals where no value was announced. Where this is
M&A - Deal analysis
(Originally posted on June 26, 2023) On Friday, we saw the announcement that Eni have agreed to acquire Neptune Energy for an aggregate enterprise value of $4.9 billion. Rumours had been swirling around Neptune for a while, with a merger with Harbour also mooted. Eni were first linked in
M&A - Deal analysis
(Originally published on June 15, 2023) On 14th June 2023, Criterium Energy announced that they have executed a sale and purchase agreement (“SPA”) to acquire all the issued and outstanding shares of Mont D’Or Petroleum Limited. Deal value The headline figure for the deal is a nominal US $1.
(Originally published on May 3, 2023) For almost three years, I have reported that Conrad Asia have been looking to farm-down some of their 76.5% operated interest in the Duyung PSC in Indonesia, that contains the Mako gas field. It has been reported that they have received offers but
M&A - Quarterly - Australasia
(Originally published on April 3, 2023) Q1 had been looking pretty quiet for Australasia, with focus firmly on the power struggle for the discoveries in the Perth Basin. However, the final week of the quarter saw a binding deal signed for the much-discussed takeover of Origin by Brookfield asset management