Private companies purchase North Sea assets
Over the previous few years there has been an increase in private companies purchasing North Sea assets. This trend has increased since 2010 when approximately 8% of the production in oil and gas from the North Sea was attributed to private companies compared to 30% in 2020. This trend is continuing in 2021 with reports that the collective value of the acquisitions in 2021 by private companies has nearly equaled the collective value of these deals for the year 2020.
It is said that many of these private companies are backed by wealthy private equity funds although questions have been raised as to how these private equity investors will structure their exits.
Source: https://www.ft.com/content/93d5f778-833c-4553-ae29-785e3aa3d4d3
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