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Feb 24, 2021 1:25:pm
Summary
by: Joe Murphy
NEO Energy, backed by Norwegian private equity group HitecVision, has agreed to pay over $1bn to buy a package of ExxonMobil assets in the north and central UK North Sea, the companies reported on February 24.
NEO is set to acquire nearly 40,000 barrels of oil equivalent/day of supply and over 140mn boe of reserves through the deal, expected to close by the middle of .
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NEO Energy and HitecVision have announced the signing of a transaction that puts NEO Energy among the top five oil and gas companies in the UK. NEO Energy is acquiring a major portfolio of non-operated oil and gas assets in the Central and Northern North Sea from ExxonMobil.