In 2018, total UKCS private equity backed production was approximately 200,000 boepd – around 12% of total UKCS production.
In line with the Oil & Gas Authority’s view that Maximising Economic Recovery (MER) will be best served by having the right assets in the right hands, private equity backed deals are putting assets in the hands of companies who have high calibre teams with the discipline, expertise and experience to build sustainable businesses that will play a material role in unlocking the considerable value that remains in the UKCS.
We believe that the increase in private equity investment we have seen over recent years is part of the changing landscape of the UKCS, and a natural evolution for a mature basin.
The legacy of private equity investment will be creation of a number of material, sustainable businesses that will go on to achieve further success beyond any future private equity exit.
We are excited to be a key player in the North Sea and are committed to playing a material role in its long term future.
”Private equity backed companies like Verus are playing a key role in maximising economic recovery in the UKCS and we are excited to be part of the long-term future of the North Sea.“John Baillie, Subsurface Director