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Bharat Vasandani Madhavan N. & Hari... Urvish Dave

Market & Company Research Store > Details

Year: 2012

Contents: 7 pages

Country: Chad

Sector: Exploration and Production (Energy)
Glencore to Acquire 25% Interest in Mangara and Badila Oil Fields from Griffiths - Acquisition to Boost Glencore’s Crude Oil Business and Expand its Presence in Africa – Deal Analysis from GlobalData

Summary

Glencore International plc (Glencore) have agreed to acquire a 25% working interest in the Mangara and Badila oil fields in the Doba basin in southern Chad, from Griffiths Energy International Incorporated (Griffiths). Under the terms of the agreement, Glencore will fund $300m of its working interest share of future joint venture expenditures in the Mangara and Badila oil fields, with a maximum fund of $100m per year. The transaction is effective as of July 1, 2012. Nomura International plc, Royal Bank of Canada and First Energy Capital LLP are acting as financial advisors to Griffiths for the transaction. The transaction is expected to be completed by December, 2012 and is subject to the approval of the government of Chad.

Scope

- Rationale behind Glencore acquiring working interest in Mangara and Badila oil fields in Chad.
- Rationale behind Griffiths entering into the deal with Glencore.
- Geography Covered- Chad

Reasons to buy

- To know about Glencore acquiring working interest in Mangara and Badila oil fields in Chad.
- Develop a sound understanding of Glencore's plan to boost production and its marketing of crude oil business and expand its presence in Africa.
- To understand Griffiths plans to fund the development of the Mangara and Badila oil fields.
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