20 Jun 2024

Energean Strategic sale of Egypt, Italy and Croatia portfolio to Carlyle

  • RE+D Magazine

Completion is expected by year-end 2024, subject to customary regulatory and antitrust approvals.

Carlyle’s offer for Energean’s Egypt, Italy and Croatian portfolio has a total enterprise value of up to $945 million plus a $/boe contingent payment linked to the recent Location B well in Egypt. This is over a 3x increase versus the original acquisition value of $284 million in 20205 , and gives a firm EV/2P multiple of $5.4/boe (versus c.$1.2/boe) 6 . 

The economic effective date of the Transaction is 31 December 2023 (“Effective Date”).




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