Rockhopper has announced an acquisition of the Egyptian assets of Beach Energy for a headline figure of US$22m, and a 2P+2C metric of under US$4.5/boe (well below historical metrics in Egypt and North Africa). The assets include a 22% WI in a production concession (Abu Sennan), which is forecast to produce nearly 5mboe/d (gross) in 2015 and exploration acreage at the El Qa’a licence. The free cash flows are expected to pay back in 18-24 months and should provide enough to cover a large
07 Sep 2015
Beach Energy acquisition
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Beach Energy acquisition
Rockhopper Exploration plc (RKH:LON) | 12.7 0 (-2.7%) | Mkt Cap: 81.5m
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07 Sep 2015 - Author:
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Rockhopper has announced an acquisition of the Egyptian assets of Beach Energy for a headline figure of US$22m, and a 2P+2C metric of under US$4.5/boe (well below historical metrics in Egypt and North Africa). The assets include a 22% WI in a production concession (Abu Sennan), which is forecast to produce nearly 5mboe/d (gross) in 2015 and exploration acreage at the El Qa’a licence. The free cash flows are expected to pay back in 18-24 months and should provide enough to cover a large