Our bespoke analysis of an announced regional upstream M&A deal.
M&A - Deal analysis
(Originally published on July 20, 2024) There were plenty of media reports on Friday that a deal had been agreed that would see PETRONAS acquire ExxonMobil's remaining interest in their Peninsular Malaysia PSCs. However, it appears to have been over-hyped and the deal simply sees PETRONAS take over
M&A - Deal analysis
(Originally published on February 23, 2024) Today, Woodside Energy have announced that they have entered into a binding sale and purchase agreement to divest a 15.1% stake in the Scarborough project to JERA. The deal has an effective date of 1 January 2022 (essentially from FID) and is expected
M&A - Deal analysis
(Originally published on January 31, 2024) Earlier today, TotalEnergies announced that they have agreed to acquire OMV's 50% interest in SapuraOMV. The transaction is for a consideration of US$ 903 million (including the transfer of a US$ 350 million loan granted by OMV to SapuraOMV) and is subject
M&A - Deal analysis
(Originally published on October 31, 2023) Last week, we saw the announcement that Chevron have agreed to acquire Hess in an all-stock deal valued at US$ 53 billion. Whilst the deal is clearly driven by Hess' assets in North American and Guyana, they do have production in Southeast Asia,
M&A - Deal analysis
(Originally published on September 1, 2023) Today, 1st September 2023, it was announced that Santos and Kumul have signed a binding agreement for Kumul to acquire a 2.6% stake in the PNG project from Santos, with an option to acquire a further 2.4%. The deal value for the
M&A - Deal analysis
(Originally published on August 21, 2023) Earlier today, INPEX and TotalEnergies announced that they have agreed to acquire PTTEP's 100% interest in the AC/RL7 permit that contains the undeveloped Cash-Maple gas field. INPEX will acquire 74% and TotalEnergies 26%. No deal value has been announced, with completion
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