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Afren To Acquire 45% Interest In OML 26: A Strategic Move to Increase its Production - Deal Analysis From GlobalData
GlobalData, Oct 2010, Pages: 13
Afren To Acquire 45% Interest In OML 26: A Strategic Move to Increase its Production - Deal Analysis From GlobalData
Summary
Afren Plc, (Afren), through its subsidiary First Hydrocarbon Nigeria Company Limited (FHN), entered into an agreement to acquire 45% interest in OML 26, located in Delta State onshore Nigeria, from The Shell Petroleum Development Company of Nigeria Ltd., Total E&P Nigeria Limited (formerly Elf Petroleum Nigeria Limited), and Nigeria Agip Oil Company, for a purchase consideration of $187.5m,. The consideration includes both the acquisition cost and FHN’s equity share of the phased development.
The transaction implies a deal value of $83,333.33 per boe of daily production and $2.26 per boe of contingent resources.
Scope
- Rationale behind Afren acquiring assets fShell, Total and Nigeria Agip Oil Company
- Strategic Benefits for the companies involved
- Geography covered - Nigeria
- Deal Financials and Valuations
- Information on Afren, OML 26
Reasons to buy
- Develop a sound understanding of the major M&A's, Partnerships, And Joint Ventures taking place in African Oil & Gas industry
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the Nigerian oil & gas market
- Get a detailed analysis of a deal to enable you to take better decisions
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