Canadian operator Gran Tierra sells North Sea business to NEO Energy
Gran Tierra holds a 100% interest in the Serenity Discovery in the UKCS
Gran Tierra holds a 100% interest in the Serenity Discovery in the UKCS
This week we got further updates on the Neo Energy and Repsol tie-up, Kistos' full year results for 2024 and the results of HAR 2.
Tax savings worth hundreds of millions for North Sea oil and gas companies are a key driver of deals like Repsol and Neo Energy, alongside delivering the benefits of more scale and diversity and opportunities for cost consolidation.
Recent transactions have hinted of a new shape taking place based on current commercial realities and around three key North Sea fields.
NEO Energy has released five tenders seeking contractors to help decommission its Donan, Balloch and Lochranza fields, along with the Global Producer III floating production offloading and storage (FPSO) vessel.
Oil and gas producers NEO Energy and Repsol Resources UK have announced a "strategic merger" across their North Sea operations.
Dana Petroleum has terminated an agreement with NEO Energy to purchase the Western Isles floating, production, storage and offloading (FPSO) vessel.
A string of senior business leaders will be leaving private equity-backed NEO Energy the firm announced on Tuesday.
Aberdeen-based NEO Energy's chief executive, Paul Harris, and chief technical officer Martin Rowe have announced they will be stepping away from the firm.
The North Sea semisubmersible (semisub) market hit 100% utilisation at the height of summer this year, however the reality is that shrinking supply has accentuated this, rather than soaring demand.
NEO Energy, and its 100% owner HitecVision, have announced that they are slowing down investment activities due to UK fiscal and political instability.
NEO Energy’s Western Isles FPSO has been spotted arriving at Orkney Harbour ahead of its work at the Greater Buchan Area redevelopment.
The rumour mill has kicked into overdrive amid discussion that Repsol is considering the acquisition of NEO Energy, even while politics has overshadowed the energy sector. While some companies are moving away from the North Sea, others are choosing to stick it out, Ryan explains, on the basis that it can’t get any worse.
A rumoured tie-up between Repsol and NEO Energy would be a good fit for the Spanish firm which has one of the biggest decommissioning liabilities in the North Sea, an analyst has said.
Jersey Oil and Gas (LON:JOG), a partner in the Buchan project, has confirmed that first oil will now come in 2027 following the call for a UK general election.
The third tranche of the 33rd offshore licensing round sees 19 companies awarded North Sea licences
The North Sea Transition Authority (NSTA) has fined NEO Energy £100,000 breaching its combined vent consent for the Donan/Dumbarton, Lochranza and Balloch fields.
As rumours of Aberdeen’s NEO Energy going up for sale circulate, analysts say “there's definite potential there but this does come with risk”.
Subsea works will get underway at Talbot within weeks, as Harbour tips first oil from the field in September.
Norwegian private equity firm HitecVision is weighing options for UK oil and gas producer NEO Energy, including a potential sale, according to people with knowledge of the matter.
Serica Energy (LON:SQZ) has completed its acquisition of a 30% non-operated interest in the Greater Buchan Area (GBA) redevelopment from Jersey Oil and Gas (LON:JOG).
Analyst firm Wood Mackenzie has predicted more firms could exit the UK North Sea in 2024.
Operator NEO Energy submits environmental statement for Buchan redevelopment in Moray Firth.
Safety inspectors have ordered Dana Petroleum to improve practices on its Western Isles vessel over concerns control room staff are not suitably trained to work unsupervised.
The Aberdeen firm has won a multi-million-pound North Sea deal from Neo Energy.