M&A Deal Summary |
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Date | 2023-06-23 |
Target | Neptune Norway |
Sector | Oil/Gas Exploration |
Buyer(s) | Var Energi |
Sellers(s) | Neptune Energy |
Deal Type | Divestiture |
Deal Value | 2.3B USD |
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Var Energi is an independent exploration and production (E&P) company on the Norwegian continental shelf (NCS) with an average production of more than 170,000 barrels of oil equivalent per day. The company operates oil and gas production across the entire shelf, with fields in the Barents Sea, the Norwegian Sea, and the North Sea. Var Energi was formed in 2018 and is based in Stavanger, Norway.
DEAL STATS | # |
---|---|
Overall | 3 of 3 |
Sector (Oil/Gas Exploration) | 2 of 2 |
Type (Divestiture) | 2 of 2 |
Country (Norway) | 1 of 1 |
Year (2023) | 1 of 1 |
Size (of disclosed) | 2 of 2 |
DATE | TARGET | DEAL TYPE | VALUE |
---|---|---|---|
2019-09-26 |
Exxon Mobil - Upstream Operations
Texas, United States Exxon Mobil Corp. - Upstream Operations comprises more than 20 producing fields that are operated mostly by Equinor, including Grane, Snorre, Ormen Lange, Statfjord and Fram, with a combined production of approximately 150,000 barrels of oil equivalents per day (boepd) in 2019. |
Buy | $4.5B |
Neptune Energy is a new oil & gas investment vehicle offers full life-cycle capabilities across exploration, development, and production. Neptune Energy was founded in 2017 and is based in London, United Kingdom.
DEAL STATS | # |
---|---|
Overall | 1 of 1 |
Sector (Oil/Gas Exploration) | 1 of 1 |
Type (Divestiture) | 1 of 1 |
Country (Norway) | 1 of 1 |
Year (2023) | 1 of 1 |
Size (of disclosed) | 1 of 1 |
DATE | TARGET | DEAL TYPE | VALUE |
---|---|---|---|
2017-05-11 |
ENGIE E&P International SA
Paris, France ENGIE E&P International SA is a large global E&P business focused on North West Europe and with operations in North Africa and South East Asia. EPI produces more than 150 kboepd and has proven and probable reserves of 672 mmboe. The assets are advantageously spread across the spectrum of the value chain from pre-development and development through to long-life production. EPI’s production mix is equally weighted between oil and gas. |
Buy | €4.7B |