Build the business
VERUS PETROLEUM IS A ‘NEXT GENERATION’ INDEPENDENT OIL AND GAS COMPANY. WE ARE PROUD TO BE PART OF THE FUTURE IN THE UK NORTH SEA.
We are a production and development company focused on the UKCS with a strong commercial, operational and technical track record and ambitious growth plans in the region. Over the next few years we will build a high quality, sustainable business.
We are continually striving to develop strong working relationships with business partners who understand the need for fundamental change to the future running of the UKCS.
Backed by Europe’s leading upstream oil and gas private equity investor HitecVision, Verus has a mature and agile in-house technical and commercial team to screen, evaluate and complete acquisitions.
To provide a stable platform for growth Verus has reduced its costs and legacy liabilities by $70million over the past two years.
In January 2017 Verus completed the acquisition of an additional 9.8% stake in the Boa oil field taking our interest to 11.35%. Verus has also entered into a Reserves Based Lending facility (“the RBL”) with Nedbank Limited for up to $150 million.
Including the increased Boa equity Verus production was approximately 2,500 boepd as at 1 February 2017 with an average lifting cost of $7/boe.
To create a quality, high value, sustainable oil and gas business in the UKCS through smart deal making, innovative development and efficient production.
Our four core values; energy, integrity, teamwork and empowerment, define us, our organisation and everything we do.
Passion, commitment and a belief in delivering the vision.
Safe place for the unvarnished truth and the relentless building of a business that withstands scrutiny from current and future stakeholders.
Create an environment where the power and contribution of all team members is recognised, harnessed and rewarded.
Delegation of decision making to the lowest practical level.