NEO Energy names Nexen veteran as new CEO
M&A specialist Russ Alton is out, project manager Paul Harris is in.
HitecVision
Havfram Subsea unveils new managing director following spin-out
Private-equity backed Havfram Subsea has named its new managing director for the company’s UK operation.
North Sea services company splits in two, nets over £200m of fresh backing
A leading North Sea contractor has split in two as it looks to maximise opportunities in different energy markets.
Var Energi warns of production drop after ‘operational issues’
Var Energi (OSLO: VAR) has warned of a production drop and a $260 million exchange rate hit in its upcoming Q3 results.
A fossil fuel investment resurgence amidst Europe’s energy crisis?
With conflict in Ukraine and sanctions on Russia continuing to exacerbate supply issues, rising energy prices are fuelling new opportunities for private equity in the European oil and gas industry.
Suncor sells to Sval in Norway exit, UK deal in works
Sval Energi has signed an agreement to acquire Suncor Energy’s Norwegian business, as the Canadian group looks also to sell off its UK assets amid a pull back from the North Sea.
Back after four years, trust the ONS conference to go the extra mile
“Trust” is the theme of this year’s ONS conference, Stavanger’s biennial mecca for the offshore energy industry.
Eni offloads Dogger Bank stakes to Vårgrønn joint venture
Eni is to offload its stakes in the 3.6GW Dogger Bank offshore wind project to its Norwegian clean energy venture Vårgrønn.
Picking and choosing investment opportunities
Following a tumultuous two years since the first Covid-19 lockdown in the UK, the now much-changed energy sector remains an attractive proposition for both global investors and trade players. Many of these are looking to get ahead of the curve of the much publicised transition to sustainable energy sources.
Var Energi IPO on the way, say owners Eni and HitecVision
An initial public offering (IPO) is to be launched for Norwegian operator Var Energi, ownership partners Eni and HitecVision have announced.
Private equity deals surge to £2.4 billion for UK North Sea
Private equity took a keen interest in the UK North Sea in 2021, with £2.4 billion worth of deals for the country’s oil and gas industry.
OGA opens investigation into billion-dollar Exxon, NEO Energy deal
The industry regulator has opened an investigation into the proposed sale by Esso of 13 producing fields to NEO Energy.
Neo Energy completes acquisition of Zennor Petroleum
Neo Energy has completed its acquisition of private-equity backed Zennor Petroleum, solidifying its position as one of the UKCS’ largest producers.
‘Sunrise, not sunset’: HitecVision looks to Penguins and Britannia investments in North Sea
Private equity player HitecVision has said the North Sea is “anything but mature” as it looks towards major investments in the UK sector.
Equinor continues foray into floating wind with new North Sea partnership
Equinor has solidified its position as one of the frontrunners in floating offshore wind with a new collaboration agreement.
Petrofac ‘thrilled’ after netting contract extension with Neo Energy
Energy service firm Petrofac today announced the award of a one-year extension to its integrated services contract with North Sea operator Neo Energy.
North Sea M&A: Dealing with the ‘what ifs’ key to a smooth transaction
At the start of the new tax year, we explore the financial landscape of the energy sector.
A new M&A wave for upstream E&P – could it be the final wave?
A year on from being hit by some of the biggest challenges the upstream exploration and production (E&P) sector has faced and so far in 2021, we have seen a greater volume of disclosed North Sea deal value than in the whole of 2020.
Neo Energy looks to redevelop Affleck field in ‘opportunity rich’ North Sea
Neo Energy intends to make a call on the redevelopment of the Affleck field in the UK central North Sea “in the next few months”.
UK North Sea one of ‘hottest’ M&A markets globally, Wood Mackenzie analyst says
The blockbuster start to 2021 made by UK North Sea buyers looks set to continue with a further £3.6 billion of assets potentially changing hands by year-end, an analyst has said.
Neo Energy swoops for Zennor Petroleum in £450m deal
Neo Energy has continued its acquisition spree with a £450 million swoop for fellow private-equity backed North Sea oil firm Zennor Petroleum.
‘We want to grow further from here’: NEO Energy rising up North Sea ranks
NEO Energy plans to continue its growth spurt after announcing a billion-dollar deal to acquire ExxonMobil assets in the North Sea.
ExxonMobil agrees sale of UK North Sea assets to NEO in $1billion deal
ExxonMobil has agreed to sell a package of UK northern and central North Sea assets to NEO Energy in a deal worth more than $1billion (£707.3m).
Updated: Neo Energy enters exclusive talks with ExxonMobil over North Sea portfolio
Oil and gas firm Neo Energy has entered into exclusive negotiations over the purchase of ExxonMobil's UK central and northern North Sea portfolio.
BP relaunches sale of North Sea oil fields – report
BP is relaunching the sale of its interests in a number of North Sea oil fields, according to Reuters, after the collapse of its deal with Premier Oil last year.