Maersk to sell assets to RockRose

LONDON, September 15, 2016 – Maersk Oil agreed to sell its stakes in three North Sea fields to new Entrant RockRose Energy of the UK, the latter announced yesterday.

RockRose suspended trading on Wednesday and announced it agreed on non-binding headline terms and a period of exclusivity to acquire Maersk Oil North Sea UK’s non-operating stakes in the Wytch Farm (7.43%), Scott (5.16%) and Telford (2.36%) fields.Combined production from these assets is about 2,000 bpd.

If confirmed, this reverse takeover will be RockRose’s first deal since it listed on the London Stock Exchange in January 2016. Any final transaction will be subject to the approval of a definitive sale and purchase agreement between Maersk and RockRose.