Delek Group is one of a string of North Sea newcomers targeting the ageing basin in the wake of the oil price crash.
Another is London-based Rock Rose Energy (RRE), which raised £4.4million in a stock market flotation earlier this year.
RRE, which this week snapped up stakes in three North Sea fields from Maersk Oil UK – a non-operated 7.4% interest in the Wytch Farm field, 5.2% in the Scott fields and 2.4% of the Telford field – was founded by executive chairman Andrew Austin, who was previously chief executive of UK shale-focused iGas.
At the time of the flotation in January, Mr Austin said: “We are excited by the opportunity that we see in the UK oil and gas sector to acquire interests in production assets with meaningful reserves, and are confident that we have the right platform to grow the portfolio.”
Announcing first half results in August, the company said it had already evaluated more than 35 targets “across a number of geographies”, while it continued to be “in processes” in relation to a further 15 assets.
Mr Austin said: “We believe that the continued downturn in the market and the Brexit vote is increasing the number of reluctant but forced sellers of assets.”
The RRE management team also includes Richard Benmore, who has more than 30 years of experience in the oil and gas industry, including a spell on the board of Nexen Exploration UK, and John Morrow, head of exploration and production at Anglo-Swiss commodities firm Glencore.
Last month, private equity-backed Siccar Point made its first North Sea oil deal when acquiring an 8.9% stake in the Mariner field from JX Nippon.
Other newcomers to the market include chemicals giant Ineos, controlled by billionaire chairman Jim Ratcliffe, and Azeri-owned Nobel Upstream.
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