Will The $250 Million Deal Between Royal Dutch Shell & BP Over Shearwater Be Completed?
As per industry sources, Royal Dutch Shell intends to buy BP’s stake in the Shearwater oil and gas field. Shearwater, discovered in 1988 is located 225 kilometers east of Aberdeen.
At present, Shell holds a 28% stake in Shearwater, 27.5% is under BP while Exxon Mobil (XOM) holds the remaining stake. BP and Shell have sold off a large number of assets in the North Sea Basin in the last few years. The deal, if completed would mark a selling target of $5 to $6 billion of assets for BP.
As per Shell, the gas export capacity of the Shearwater hub is around 400 million standard cubic feet of gas a day, practically 70,000 barrels of oil equivalent per day.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive!
week 4 (9)