Asset SaleEnergean announced the sale of its assets in Egypt, Italy, and Croatia to Carlyle for up to $945 million, representing over 3x the price Energean paid for the assets in 2020.
Cash FlowThe transaction is expected to be immediately free cash flow accretive, reducing decommissioning liabilities by more than $600 million and allowing for a special dividend of up to $200 million.
Environmental ImpactPost-closing, Energean's scope 1 and 2 emissions intensity is expected to reduce by about 40%, accelerating its 2035 target by 10 years.