trending Market Intelligence /marketintelligence/en/news-insights/trending/Y7nb27XGGrtCvu-mAoGTvA2 content esgSubNav
In This List

Report: North Sea producer Siccar Point gets final bids from oil majors

Blog

Japan M&A By the Numbers: Q4 2023

Video

See the Big Picture: Energy Transition in 2024

Podcast

IR in Focus | Episode 10: Capital Markets Outlook

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook


Report: North Sea producer Siccar Point gets final bids from oil majors

The North Sea-focused oil and gas producer Siccar Point Energy Ltd. received final binding offers from several major oil and gas companies, Bloomberg reported Jan. 20, citing people familiar with the matter.

Private equity-backed Siccar Point reportedly got final bids from Chrysaor Holdings Ltd., Equinor ASA, Canadian oil sands producer Suncor Energy Inc., China National Offshore Oil Corp. subsidiary CNOOC Ltd. and a company backed by private equity firm HitecVision AS, according to the article.

Bloomberg's sources said some bids did not meet Siccar Point's expected price, while other bids were only looking at certain of the company's assets.

Private equity firms Blue Water Energy LLP and The Blackstone Group Inc., both of which back Siccar Point, earlier priced the oil and gas producer at approximately $2 billion to $3 billion, according to the article. The private equity firms are assessing the submitted offers and determining whether to move forward with a deal or retain the company for longer, Bloomberg reported.

Bloomberg said most of the companies declined to comment.