Waldorf Production UK has hired a mergers and acquisitions (M&A) expert as its general counsel and commercial director, based in its Aberdeen headquarters.
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.
Waldorf Production’s chief executive has said the company remains hot on the trail of more acquisitions after inking a deal to buy stakes in the Catcher and Kraken fields from Cairn Energy.
Cairn Energy’s chief executive said today that the UK North Sea still offered “excitement and upside” for exploration and production firms.
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.
Scottish oil company Cairn Energy has agreed to sell its stakes in the Catcher and Kraken fields in the North Sea to Waldorf Production for £330 million.
A newly-formed oil firm claimed on Tuesday night that it had captured stakes in four producing North Sea fields through the acquisition of Endeavour Energy UK (EEUK).