Spirit Energy targets additional barrels from North Sea field with new well
Spirit Energy will drill a new well in a bid to deliver more than 4.2 million additional barrels of oil equivalent from a southern North Sea field.
RockRose Energy
SSE strikes deal to sell gas portfolio to Viaro, which offloads Brae area for 75p
Energy firm SSE has clinched a deal to sell its gas exploration and production assets to Viaro Energy for £120 million.
Powering up or fizzling out? Weighing up change in the energy sector
As one of the most unusual years in all of our lives draws towards a close, we have been asked to share a few reflections on the effects felt in the energy sector.
Andrew Austin’s new venture Kistos looks to raise £32m via imminent AIM listing
Entrepreneur Andrew Austin’s new energy sector investment company expects to raise £31.75 million via its initial public offering, slated for this week.
EV Out Loud: Austin powers back, steroids for microbes, and heartbreak in Uganda
On this week’s episode, in association with Fasken, the team looks at the return of RockRose Energy founder Andrew Austin to the North Sea fold, after he sold up his former firm for nearly £250m earlier this year.
RockRose founder Andrew Austin makes North Sea return with new company
Andrew Austin is making his North Sea return with a new investment company, aimed at buying up UK assets, after selling RockRose Energy.
Oil plays to remain challenging into Q4
From an oil and gas perspective, deal activity has remained subdued in Q3 2020, with the Covid-19 pandemic and severe downturn in both Brent and Shale prices still being felt by producers and service providers globally.
RockRose acquired by Viaro Energy in £250m deal
North Sea oil and gas producer RockRose Energy has been acquired in a multi-million pound deal.
Doing deals in lockdown – signs of encouragement in the gloom
Our client Humber Oil & Gas’ divestment of its interest in one of the largest UK onshore hydrocarbon discoveries may have been our second oil and gas deal of 2020, but it was the first we conducted wholly remotely, thanks to UK lockdown rules.
RockRose Energy slashes spending and cuts number of North Sea wells for 2020
RockRose Energy has slashed spending for 2020 by more than £80m in response to the Covid-19 outbreak and cut the number of UK wells it will participate in.
No ‘adverse impact’ on North Sea operations due to Covid-19, RockRose boss says
RockRose Energy hasn't experienced any "adverse impact" on its North Sea operations due to the Covid-19 outbreak, according to the firm's boss.
Firms to delay results due to virus
The Financial Conduct Authority has asked companies due to announce annual results to delay publication because of the coronavirus.
North Sea ‘chaos’ as more suspected Covid-19 cases spring up
A trade union official has said the North Sea is firmly in the grip of coronavirus “fear” and lamented a perceived lack of leadership.
Multiple suspected coronavirus cases on Brae Alpha
RockRose said today that "a number" of workers on the Brae Alpha platform in the UK North Sea are in "self-isolation" amid concerns they have contracted Covid-19.
Oil price war may trap private-equity firms in North Sea
The last time crude prices crashed in 2014, the North Sea looked like a treasure trove for private equity looking to buy cheap assets, build them up and sell for a profit. Now, just as these firms are seeking an exit, the oil-price war might leave them trapped
Rockrose Energy completes development well at West Brae
Oil and gas company Rockrose Energy has announced the completion of the first of two infill development wells at West Brae.
Repsol Sinopec going after more Blake field oil
Repsol Sinopec Resources UK (RSRUK) has submitted a key document for a project aimed at boosting production from the Blake field in the central North Sea.
‘Total wideboys!’ – emails show Taqa management’s reaction to RockRose-Marathon deal
Court documents have revealed emails between Taqa senior management, who described RockRose’s deal with Marathon Oil as their “worst fear”, calling the London-headquartered company “total wideboys”.
RockRose ousted from Brae operator role after partners raise ‘serious concerns’
RockRose Energy has lost control of its only operated platforms in the UK North Sea after three partner companies raised “serious concerns” in court about its ability to run the assets.
Taqa takes over operatorship of North Sea area from RockRose
RockRose Energy has been ousted as operator of a North Sea hub with Taqa UK set to take over control thanks to a legal challenge brought by its partners.
RockRose Energy to continue acquisition hunt in 2020
RockRose Energy has announced it will press on with the hunt for more North Sea acquisitions this year.
RockRose Energy starts ‘significant period of development’ with West Brae wells
RockRose Energy has said it is beginning a “significant period of development activity” over the next year, starting with its West Brae field.
Dealmakers look ahead to ‘big year’ for M&A in UK North Sea
As some of the North Sea’s private equity-backed players prepare themselves for public listings, 2020 is expected to be a “big year” for gauging the size of investors’ appetites.
Siccar Point sale attracts bids of up to $2bn – report
Bids to buy North Sea producer Siccar Point Energy have come in at between $1.2bn and nearly $2bn, according to a news report.
UK billionaire pulls insider-trading case against oil exec
An investment firm controlled by British billionaire Michael Spencer reached an 11th-hour settlement with an oil executive and his wife in a case that saw insider-trading accusations fly and the threat of a private prosecution.