Centrica and SWM have reportedly launched a sale process of the North Sea oil producer Spirit Energy.
Reuters on Monday cited a document sent to prospective buyers, according to which Centrica wants to sell its 69 percent ownership in Spirit Energy. Reuters also said that SWM would evaluate proposals for the remaining stake.
Spirit Energy was established in 2017, through a combination of Centrica’s E&P business with Bayerngas Norge. Centrica plc owns 69% of Spirit Energy, with Bayerngas Norge’s former shareholders, led by Stadtwerke München Group (SWM), holding 31%.
The company’s 2018 production was 46.8 million barrels oil equivalent (mmboe), proven and probable (2P) reserves of 270 mmboe, and contingent (2C) resources of 512 mmboe.
Per the company’s 2018 summary document, Spirit Energy had operated and non-operated interests across the UK, Norway, the Netherlands, and Denmark, with 33 producing fields and 148 exploration licenses.
