The acquisition constitutes an enterprise value of E443.4 million, plus other adjustments resulting in a total transaction value of E476.7 million.
The acquisition of Burlington Resources Nederland Petroleum (BRN) is said to be a significant step for Nuon in becoming a more integrated company across the gas and power value chain. It adds the essential gas production capabilities to Nuon’s already existing gas trading, wholesale and retail activities.
BRN holds upstream interests in 35 fields on the Dutch North Sea shelf, of which 28 are located in the joint development area (JDA). All of BRN’s producing fields are connected to the Dutch gas grid with gas landing at the onshore Den Helder facility.
In addition to the fields, BRN holds interests in the Westgastransport pipeline and its extension, as well as in the onshore Den Helder facility with HiCal and LoCal gas processing plants and the JDA LoCal pipeline. The assets are operated either by Nederlandse Aardolie Maatschappij (NAM) or by Wintershall.
