Add-on Acquisition • Oil/Gas Exploration

Kistos Acquires Mime Petroleum

On May 23, 2023, Kistos acquired oil/gas exploration company Mime Petroleum from Blue Water Energy

Acquisition Context
  • This is Kistos’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Kistos’ 1st transaction in Norway.

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M&A Deal Summary

Date May 23, 2023
Target Mime Petroleum
Sector Oil/Gas Exploration
Buyer(s) Kistos
Sellers(s) Blue Water Energy
Deal Type Add-on Acquisition

Target Company

Mime Petroleum

Oslo, Norway
Mime Petroleum is a new exploration, development, and production company focused on the Norwegian Continental Shelf. Mime Petroleum's vision is to build a major NCS independent E&P company, through building a material portfolio of producing and commercial reserves and driving post-acquisition investment activity. Mime Petroleum is based in Oslo, Norway.
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Buyer Overview 1

Buyer

Kistos

London, United Kingdom

Category Company
Founded 2020
Sector Energy Services and Equipment
Employees52
Revenue 222M EUR (2024)
DESCRIPTION

Kistos is an independent energy company focused on low-carbon, low-impact development and production opportunities across mature natural gas basins and the energy generation project sector. Kistos was founded in 2020 and is based in London, England.


Deal Context for Buyer #
Overall 2 of 2
Sector: Oil/Gas Exploration 2 of 2
Type: Add-on Acquisition 2 of 2
Country: Norway 1 of 1
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 Tulip Oil

Den Haag, Netherlands

Tulip Oil is an upstream development and production company with a focus on exploiting opportunities in undeveloped and mature oil and gas discoveries in Western Europe. Tulip Oil was founded in 2010 and is based in Den Haag, Netherlands.

Buy -

Seller Profile 1

DESCRIPTION

Blue Water Energy is a private equity firm focused on building energy companies. Blue Water looks to invest up to $150 million per project with a focus on production, upstream equipment and services, and midstream/downstream equipment and services. Blue Water typically invests in partnership with experienced management teams that have a track record of value creation. Blue Water Energy was formed in 2011 and is based in London.


Deal Context for Seller #
Overall 6 of 9
Sector: Oil/Gas Exploration 2 of 2
Type: Add-on Acquisition 4 of 7
Country: Norway 1 of 2
Year: 2023 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-01 GPS

Singapore, Singapore

GPS is a midstream infrastructure platform formed to pursue the acquisition, construction and enhancement of storage and logistics assets outside North America. GPS owns a refined product terminal in the Port of Amsterdam and has two projects under construction – an industrial services terminal in Al Hamriyah Port in Sharjah, United Arab Emirates and an LPG terminal in Port Klang, Malaysia. GPS is based in Singapore.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-07 Techouse

Sandnes, Norway

Techouse is an offshore oil & gas industry. Techouse design, engineer and manufacture complete customized process packages, insuring optimized design in terms of weight, footprint and energy savings with a priority focus on HSE. Techouse was founded in 2002 and is based in Sandnes, Norway.

Sell -