RockRose clinches deal for North Sea fields

  • Business & Finance

London-listed RockRose Energy, an independent oil and gas company, has now signed an agreement with Maersk Oil to buy stakes in three of its UK fields.

In September this year, RockRose inked a non-binding headline terms and a period of exclusivity to buy Maersk Oil’s non-operated interests in the Wytch Farm (7.43%), Scott (5.16%) and Telford (2.36%) fields. This agreement was made with a UK subsidiary of the Danish oil firm Maersk Oil, Maersk Oil North Sea UK.

The company then requested from the UK Listing Authority to suspend the listing of the shares with immediate effect.

RockRose said on Thursday, December 22 that the new agreement is conditional upon the usual regulatory permissions from the UK’s Oil and Gas Authority (OGA) and certain third party consents.

Rockrose noted that the company’s shares will remain suspended as the transaction constitutes a reverse takeover.

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