The importance of restructuring — The results will amaze you

  • June 2020: Energean restructured the deal to acquire Edison assets by dropping the Algerian and Norwegian assets from the deal and adding a contingent payment of up to USD100m based on prices
  • May 2020: Santos revised its deal to acquire ConocoPhillips Australia assets and increased the contingent payment to USD200m from USD75m by reducing upfront consideration
  • April 2020: Hilcorp renegotiated terms of the deal with BP to change the structure and earnout arrangements
  • April 2020: Total’s acquisition of Tullow Uganda assets includes a contingent payment of USD75m at the final investment decision (FID) and additional unspecified contingent payments triggered when Brent prices are above USD62/bbl
  • July 2020: Premier Oil dropped acquisition of a further stake in the Tolmount project from Dana Petroleum
  • May 2020: Total discontinued acquisition of Occidental Petroleum’s assets in Ghana
  • May 2020: Neptune Energy terminated the agreement to acquire Edison E&P’s UK and Norwegian subsidiaries from Energean

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Acuity Knowledge Partners

Acuity Knowledge Partners

We write about financial industry trends, the impact of regulatory changes and opinions on industry inflection points. https://www.acuitykp.com/