RockRose to acquire Maersk Oil North Sea stakes

RockRose to acquire Maersk Oil North Sea stakes

RockRose Energy plc is set to buy some UK oil and gas field stakes from Maersk Oil North Sea UK Ltd, a subsidiary of Danish oil firm Maersk Oil.

The two companies have signed non-binding headline terms and a period of exclusivity from under which RockRose would buy Maersk Oil’s non-operated interests in the Wytch Farm (7.43%), Scott (5.16%) and Telford (2.36%) fields.

In a statement on Wednesday, RockRose said that any potential transaction remains subject to contract, and subject to the agreement of a definitive Sale and Purchase Agreement (“SPA”) with Maersk and the usual regulatory permissions from the Oil and Gas Authority (“OGA”) and partners.

“As any transaction would constitute a reverse takeover, the Company has requested that the UK Listing Authority (“UKLA”) suspend the listing of the shares with immediate effect. A further announcement will be made in due course.”

 

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