In recent months, there has apparently been a trend of consolidation and acquisitions in the North Sea. Here, among others, Ineos has been involved in a number of large transactions, where the company has both sold off its Norwegian oil business for almost four billion kroner, but has also acquired Hess Denmark for almost one billion kroner and taken over the Spirit Energy companies with their associated parties in the Danish oil fields Solsort and Hejre.
However, it is not only in the Danish part of the North Sea that sales are taking place from time to time among the major oil companies. Most recently, for example, Tailwind Energy has acquired Decipher Energy, which operates on three fields in the British part of the North Sea.
Most noteworthy, however, is that the merger of Premier Oil and Chrysaor to form Harbour Energy has finally been formalized and implemented. In a reverse merger, Chrysaor has been merged with Premier Oil and taken over Premier Oil's place on the British stock exchange.
The new Harbour Energy is the UK's largest oil and gas operator in the North Sea. And there's some evidence that bigger is better in this case, with Premier Oil's shares up 50% since the deal with Chrysaor was announced.
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