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Repsol, S.A. (REP.F)
- Reuters SG
North Sea Crude-North Sea producers continue consolidation
North Sea crude differentials were stable on Friday, while producers in the North Sea continued to consolidate. NEWS * Spain's Repsol is in talks to merge its UK North Sea oil and gas business with private equity-backed NEO Energy, three industry sources said, the latest consolidation by companies operating in the basin amid greater tax pressures. * A merger would create a company with output of more than 110,000 barrels of oil equivalent per day, making it one of the largest producers in the ageing basin.
- Reuters
Exclusive-Repsol in talks to merge UK North Sea operations with NEO, sources say
Spain's Repsol is in talks to merge its UK North Sea oil and gas business with private equity-backed NEO Energy, three industry sources said, the latest consolidation effort by companies that operate in the basin amid greater tax pressures. A merger would create a company with output of more than 110,000 barrels of oil equivalent per day, making it one of the largest producers in the ageing basin. Repsol and NEO Energy declined to comment.
- Reuters
Repsol explores sale of minority stake in South Texas oil assets, sources say
Spanish oil major Repsol plans to sell a minority interest in its Eagle Ford shale assets in South Texas, in a deal that could value the assets at up to $2 billion, three sources familiar with the talks told Reuters. The sources said Repsol has hired Scotiabank to assist with the process, and aims to bring in a partner or partners to hold so-called non-op positions, earning a cut from sale of hydrocarbons while paying a share of operating costs. The non-op partners are not responsible for oil and gas extraction or other day-to-day operations.
