Vigo has advised Seacrest Capital, a leading independent energy investor specialising in offshore oil and gas investments and its portfolio company, OKEA AS, on the acquisition of a package of assets from A/S Norske Shell for c. $566 million.

OKEA, Seacrest’s Norwegian Continental Shelf focused development and production subsidiary, has agreed to acquire working interests in the Draugen (44.56% – Operator) and Gjøa (12% – Non-operator) fields, with an estimated combined net daily production of c. 22,000 barrels of oil equivalent. This acquisition will be transformational for OKEA as it increases net resources from 11 to 53 million barrels oil equivalent and significantly enhances the company’s operating capabilities.

Vigo, a leading energy sector financial communications adviser, supported both Seacrest and OKEA during the transaction and has acted as long-term ongoing strategic communications adviser to Seacrest and its seven portfolio companies since 2012, inclusive of OKEA’s launch in 2015.

Patrick d’Ancona, Managing Director, commented: 
“We are delighted to have provided support on such a significant transaction, which is not only transformational for OKEA, but represents a milestone for Seacrest as they seek to build a material production portfolio. We look forward to continuing to work closely with Seacrest to promote its both its strategy and its portfolio companies amongst key stakeholders during what is set to be an exciting time, as they execute on their exploration plans, further expand their international portfolio and attract key strategic partners globally.”

The Seacrest account at Vigo is run by Patrick d’Ancona, Chris McMahon and Antonia Pollock.

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