Announced
Financials
Sources
Tags
Offshore Drilling and Other Services
United Kingdom
Domestic
Private Equity
Private
Pending
gas production
Majority
oil and gas exploration
Acquisition
Single Bidder
Friendly
Synopsis
Viaro Energy-backed RockRose Energy, an investment company, agreed to acquire SSE's gas exploration and production assets for £120m ($160m). "We have said for some time that gas exploration and production assets are inconsistent with our future ambitions and vision to be a leading energy company in a net-zero world. This sale clearly comes at a difficult time for the E&P sector, and the economy as a whole, but we believe it is the right move for our shareholders as we focus our resources on our core low-carbon businesses," Gregor Alexander, SEE Finance Director.
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