Bosses at Longboat Energy say they will harness the higher levels of interest being shown in the business to clinch more acquisitions.
Longboat Energy said today it had succeeded in raising £35 million through a share placement and confirmed farm-in agreements with Equinor and Spirit Energy.
Longboat Energy intends to raise £35 million via a share placement to help pay for its spot on an exploration campaign off Norway.
Bosses at Longboat Energy are “participating” in a number of acquisition processes as the London-listed firm looks to do its maiden deal.
Private equity firms that piled into oil-production assets in the past few years now find themselves stuck, and forced to contemplate novel ways to make an exit.
The number of public listed North Sea operators that could be a suitable fit for a reverse takeover have “diminished significantly”, according to an industry experty.
Bosses at Longboat Energy said today they were making “good progress on several fronts” in their quest to complete a maiden acquisition for the London-listed firm.
Bosses at a North Sea start-up said today that recent market turmoil and plunging crude prices would boost their chances of sealing acquisitions.
It was an interesting year for deal-making in 2019, despite political and economic challenges.
A new North Sea firm, created by the former bosses of Faroe Petroleum, has announced it is evaluating "a number" of potential acquisition targets.
Shares in Longboat Energy were admitted to the alternative investment market of the London Stock Exchange today.
A new North Sea exportation and production (E&P) firm created by the former boss of Faroe Petroleum has announced its "success" in raising a £10 million war chest.
DNO North Sea, the Norwegian firm which took over Faroe Petroleum, said it now has more “firepower” to grow with a boost to its lending facilities.
North Sea oil and gas veteran Graham Stewart said yesterday a sense of “unfinished business” spurred his decision to launch a new, acquisition-hungry player.
A North Sea oil and gas executive who led Faroe Petroleum before the Aberdeen-based firm fell to a hostile takeover has set up a new company.