INEOS $1.3 billion acquisition of Dong Energy's oil and gas business

Overview:

• INEOS has acquired the oil and gas business of Dong Energy for $1.3 billion.
• The deal included a headline payment of $1.05 billion, with a contingent payment of $150 million related to the Fredericia stabilisation plant and another of up to $100 million subject to the development of the Rosebank field.
• The acquisition will further strengthen INEOS’s existing upstream activities and means the company becomes the largest private enterprise operating in the North Sea.
• On completion, 440 people will transfer to INEOS.
• The target includes assets in Denmark, Norway and the UK that produced 100 thousand barrels of oil equivalent (boe) per day in 2016, with around 570 million boe of commercial and potential oil and gas reserves.

Katrin Kostadinova - Data analyst