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Chevron To Acquire Atlas Energy : Chevron Expanding its Asset Base in North America
GlobalData, Nov 2010, Pages: 9
Chevron To Acquire Atlas Energy : Chevron Expanding its Asset Base in North America - Deal Analysis From GlobalData
Summary
Chevron Corporation, (Chevron) entered into an agreement to acquire Atlas Energy, Inc., (Atlas) for a purchase consideration of $4.3 billion, which includes $3.2 billion in cash and assumed pro forma net debt of approximately $1.1 billion. Under the terms of the agreement, Atlas shareholders will receive $38.25 in cash for each share of Atlas stock. As on November 2, 2010, Atlas had 78.4 million shares outstanding.
The Goldman Sachs Group, Inc. is acting as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to Chevron. Jefferies & Company, Inc. and Deutsche Bank Securities, Inc. are acting as financial advisors while Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Atlas.
The transaction implies deal values of $322,500 per barrel of oil equivalent (boe) of daily production, $30.35 per boe of proved reserves and $3,398.51 per acre of land.
Scope
- Rationale behind Legacy acquiring Permian Basin assets from Concho
- Strategic Benefits for the companies involved
- Geography covered - US
- Deal Financials and Valuations
- Information on Legacy, Concho, Permian Basin
Reasons to buy
- Develop a sound understanding of the major M&A's, Partnerships, And Joint Ventures taking place in North American Oil & Gas industry
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the US oil & gas market
- Get a detailed analysis of a deal to enable you to take better decisions
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