Spain's Repsol in talks to merge UK North Sea oil/gas business with NEO Energy, creating a 110,000 boe/day producer.
Spain's Repsol is in talks to merge its UK North Sea oil and gas business with private equity-backed NEO Energy, creating a company with output of over 110,000 boe/day. The potential deal could be announced within weeks, with a merger aiming to create one of the largest producers in the ageing basin. The North Sea producers have recently merged and sought to diversify away from the region due to increased tax pressures.
June 28, 2024
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