Kistos Energy completed the acquisition of a 20% stake of Greater Laggan Area fields from TotalEnergies for $125m.

Kistos Energy, a low carbon intensity energy producer, completed the acquisition of a 20% stake of Greater Laggan Area fields from TotalEnergies, a multi-energy company, for $125m. "We look forward to working with TotalEnergies and our partners within the GLA. The addition of the GLA interest to our portfolio is an important step towards expanding and diversifying our producing asset base in one of the largest gas hubs in the UK. In addition to the immediate significant increase in our daily production, these assets also offer investors significant upside potential from the Glendronach development project and the highly prospective Benriach exploration target. Progression of these two projects is expected to meet the investment criteria for the UK's recently implemented Energy Profits Levy," Andrew Austin, Kistos Executive Chairman.