Valuation from ChatGPT - $21.4BN25 Jul 2025 10:49
Rough Valuation of Empyrean's Stake in the Mako Gas Deal
Based on assumptions for a typical Indonesian gas sales agreement:
Gas production: ~111 million cubic feet/day (MMcf/d)
Price: ~$6/MMBtu (oil-linked domestic pricing)
Empyrean's stake: 8.5%
Contract duration: 10 years
Discount rate: 10%
📊 Estimated Financials for Empyrean:
Metric Value
Annual Revenue (Empyrean’s share) ~$21.43 billion USD
NPV of 10-year cash flows (Empyrean's share) ~$131.66 billion USD
⚠️ Important Caveats
The 111 Bcf/d figure in news sources is likely a misprint. It probably meant 111 MMcf/d—a typical volume for fields like Mako.
This valuation is extremely high—suggesting a potential issue with the production figure or misunderstanding in reports.
Realistic commercial production at 111 MMcf/d would likely yield hundreds of millions, not hundreds of billions, in value for a minority stakeholder.
Final numbers should be validated against actual field development plans, netback pricing, capex/opex shares, and fiscal terms (taxes, royalties, etc.).