Cairn eyeing Tamar stake offshore Israel - News for the Oil and Gas Sector energyvoice.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energyvoice.com Daily Mail and Mail on Sunday newspapers.
However, Mr Cross has made clear he still sees commercial potential in the black stuff. Parkmead said yesterday it is actively evaluating further acquisition opportunities in each of its areas of activity, citing renewables, gas and oil. The company still appears hopeful that it will be able to develop oil fields in the Greater Perth Area (GPA) of the Moray Firth. “The Greater Perth Area development continues to form a key part of our balanced portfolio of assets,” said Parkmead. It said the GPA fields could contain up to around 130 million barrels oil equivalent. Production facilities could be tied back to the Scott platform in the area.
Domestic gas prices of about USD2.9/mcf on average until 2024
Upstream production ramping up to above 60kboe/d in 2023
Dividends of about USD59 million a year up to 2024
Fitch’s Key Assumptions for Recovery Analysis:
The recovery analysis assumes that Seplat would be reorganised as a going-concern (GC) in bankruptcy rather than liquidated.
Seplat’s post-reorganisation, going-concern EBITDA is estimated at around USD223 million, based on the current asset base. A drop in EBITDA to the going-concern level reflects risks associated with hydrocarbon price volatility, potential unplanned downtime and other adverse factors
We have applied a distressed enterprise value (EV)/EBITDA multiple of 4.5x to calculate a going-concern EV, reflecting a mid-cycle multiple for the natural resources sector in the EMEA region and the risks associated with the operating environment in the country of operation.