The widespread interest in the UK's latest licensing round, despite the frontier nature of the offered acreage, highlights positive momentum for renewed exploratory activity and risk tolerance in the wider UK offshore.
The potential acquisition of additional producing assets in the North Sea from DONG would allow Cairn Energy to generate greater cash flow with which to focus on developing its prospective Senegalese resource base.
BMI View: Chrysaor's acquisition of a mature asset base in the North Sea will support end of life recovery optimisation at a number of the fields. This latest deal reinforces our view that private equity will be more prominent in upstream and the North Sea is likely to see an increase in the presence of private equity backed players, looking to optimise and extend production from maturing...
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