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.
NEO Energy
NEO Energy on the rise after losses on oil price and Western Isles impairment
NEO Energy has said it has “rapidly expanded” since the oil price crash brought it down to losses in its first full year of trading.
‘Traumatic year’ sees North Sea operators hand back up to 1.1bn barrels of oil
North Sea operators have handed back up to 1.1 billion recoverable barrels of oil from UK fields, according to data released by the Oil and Gas Authority (OGA).
Pinsent Masons appoints prolific dealmaker to top oil and gas role
Law firm Pinsent Masons has appointed renowned dealmaker Rosalie Chadwick as its new global head of oil and gas.
NEO Energy looking to electrification as part of carbon reduction drive
North Sea oil firm NEO Energy said today it would strive to cut the carbon intensity of its production operations in half by 2030.
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.
Tackling the information and systems challenges of acquisitions
Asset transfers can be complex from an information and technology perspective but can be the springboard for innovation, as well as delivering the expected productivity. The critical path is for the transfer of services agreement, safety case, readiness and transition of operations. This article highlights the types of transfer, the issues we face and Sword’s tried and tested approach to dealing with them.
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.
Decommissioning bill for NEO – Exxon UK assets estimated at $1.1billion
The decommissioning bill for NEO Energy’s newly-acquired Exxon Mobil assets in the UK has been estimated at $1.1billion (£795m).
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).
UK offshore market expecting rebound ‘over the next 24 months’ – Westwood
The next 24 months will see a “rebound” in work for the UK North Sea, according to Westwood Global, with a clutch of offshore projects for contractors to keep an eye on.
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.
HitecVision ’emerging as frontrunner’ to buy ExxonMobil UK North Sea assets
HitecVision AS is emerging as the frontrunner to acquire Exxon Mobil Corp.’s oil assets in the U.K. North Sea, according to people familiar with the matter.
Total holds the dividend, cuts debt
Total has reported adjusted net income of $848 million, with an organic cash breakeven below $25 per barrel.
‘The valuations for E&P companies on the stock market are not very attractive’ – could we see more North Sea reverse takeovers?
The reverse takeover model could become more of a permanent fixture in the North Sea in the coming years as more private-equity (PE) backed operators look to go public.
EnQuest, Sinopec ‘among bidders’ for ExxonMobil UK North Sea oil and gas fields
ExxonMobil's UK North Sea assets have attracted suitors from state-owned companies to private equity-backed firms as the US oil giant seeks to exit the aging region altogether, according to people with knowledge of the matter.
Neo Energy completes revised UK North Sea deal with Total
Neo Energy, of Aberdeen, has completed the revised acquisition of a package of UK North Sea oil and gas fields from Total.
Petrofac doubles UK wells with Neo Energy contract
Petrofac has doubled the size of its offshore wells portfolio in the UK North Sea after winning a new contract with Neo Energy.
Equinor finance chief to take up the reins at Neo Energy
Exploration and production firm Neo Energy, of Aberdeen, will replace one mergers and acquisitions (M&A) specialist with another at the top of its management ladder.
Fraser Well Management secures first production well operatorship appointment
Well engineering and project management specialist Fraser Well Management (FWM) has assumed the production well operatorship of six SNS development wells, this appointment marks the launch of a new product line for the company.