Newsletter 
  INSCRIPTION Inscription | ESPACE ANNONCEURS Publicité | CONTACT Contact |PLAN DU SITE Plan


Europétrole, le portail de l'industrie du pétrole
 
 accueil | actualité française | actualité internationale | recherche | interviews | focus | actualité par entreprise | actualité pétrole/gaz de schiste 
Partager :

  • Energean plc - Edison E&P : Transaction Factsheet
    édité le 29/06/2020 - Plus de news de "Energean" - Voir la fiche entreprise de "Energean"


Energean plc - Edison E&P : Transaction Factsheet
Energean entered into a conditional sale and purchase agreement to acquire Edison E&P from Edison S.p.A. for $750 million on the 4 July 2019. Since then, both parties have agreed several amendments to the deal. Key new developments confirmed today:

- Significant reductions to consideration, net consideration now expected to be just $178 million.
- Energean will add UK North Sea to its expanded portfolio including interests in two recent, material gas discoveries.
- EGM confirmed for 20 July 2020.

Deal Overview

- After working capital, Energean expects to pay just $178 million for its acquisition of Edison E&P.
- Energean expects to pay a contingent payment on first gas production from Cassiopea. If gas prices don’t recover from current levels, no contingent payment will materialise.
- Following completion, Energean will have reserves and resources in excess of 800 mmboe, that are substantially weighted towards gas and a clear path to producing more than 130 kboed, making it one of the largest E&P companies listed on the London Stock Exchange.
- Energean has signed a new $220 million Reserve Based Lending facility with ING, Natixis and Deutsche Bank. Combined with the equity raised in 2019, the transaction and all working capital requirements of the company are fully-funded.
- Energean looks forward to completing the transaction later this year, and to integrating the teams and portfolios to drive value creation.

Retaining Extensive Growth Portfolio in the UK North Sea

As announced on 19 May, Energean will now retain the UK subsidiaries within the perimeter of the transaction including a 25% interest in the Glengorm discovery and a 10% interest in the Isabella discovery.
The UK subsidiaries include non-operated interests in the Glengorm and Isabella gas discoveries which could add a further 85 MMboe of net gas condensate resources.

Glengorm
- One of the biggest discoveries in the UK North Sea in the last decade
- Contains gross estimated resource of 250 mmboe - based on operator estimates
- Two-well appraisal programme is scheduled to commence in 4Q 2020 / 1Q 2021
- Represents an attractive source of resource upside for the enlarged group’s portfolio

Isabella
- Discovery announced in March 2020.
- An appraisal programme is expected on the Isabella discovery in 4Q 2020 / 1Q
2021.
- Potential to contribute additional nearterm value creation potential.

About Energean

Energean is a London Premium Listed FTSE 250 and Tel Aviv 35 Listed E&P company with operations offshore Israel, Greece and the Adriatic. In August 2017 the Company received Israeli Governmental approval for the FDP for its flagship Karish-Tanin gas development project, where it intends to use the only FPSO in the Eastern Mediterranean to produce first gas in 2021. Energean operates producing assets in Greece, has nine exploration licences offshore Israel, and a 25-year exploitation licence for the Katakolo offshore block in Western Greece and additional exploration potential in its other licences in Western Greece and Montenegro.

About Edison

Edison is a leading Italian and European operator in the supply, production and sale of electricity, in energy and environmental services. Founded over 135 years ago, Edison has contributed to the electrification and development of Italy. It now operates in Italy, Europe and the Mediterranean basin, employing 5,000 people. Edison’s electric power plants have a total capacity of 6.4 GW in Italy.


Origine : Communiqué Energean

Voir la fiche entreprise de "Energean"



Les dernières news de "Energean"



Toutes les news de "Energean"
 
 
 
Emploi-Pétrole
 
Rechercher une news



française internationale








 
Les dernières news internationales


>> Toute l'actualité internationale     >> RSS
 
Recherche de news par tags

abu-dhabi acquisition adnoc aker-bp aker-solutions algeria algerie algerie alstom anadarko angola apache australia axens baker-hughes bechtel bg-group bp brazil canada carburant cbi cgg cheniere chevron china cnooc cnpc co2 commission-europeenne compressor conocophillips consommation cpdp deepwater discovery drilling e-on edf egypt engie engineering eni equinor equinor exxonmobil feed flng fluor fluxys foster-wheeler fpso france fsru fugro gabon gas gaz gazprom gazprom-neft gdf-suez ge germany gnl gtt gulf-of-mexico guyana hess hydrogen india indonesia ineos inpex iraq italy kbr keppel licence lng lukoil lundin maersk-drilling malaysia mcdermott methanier mexico mozambique natural-gas neptune-energy nigeria nigeria north-sea norway novatek offshore omv opec pemex petrobras petrofac petronas pgnig pipeline platform poland production qatar qatar-petroleum qatargas raffinerie refinery repsol rig riser rosneft russia rwe saipem santos saudi-arabia saudi-aramco schlumberger seismic selling senegal shale-gas shell socar sonatrach statoil subsea subsea-7 survey technip technipfmc texas total totalenergies tullow turbine uae ufip uk us vopak well wintershall wintershall-dea wood-group woodside



Europétrole © 2003 - 2023