PE Live: Hope remains for UKCS buyers
The landscape may look very different to when deals were struck. But it is not all bad news for those that acquired North Sea assets in recent years
“Obviously, the price decks used two years ago did not stress test for the huge fall in commodity price we are seeing today.” So says Geraldine Murphy, partner at investment bank Tudor, Pickering, Holt, speaking on a PE Live webcast on the future of the UK continental shelf (UKCS). As such, the flurry of deals that have seen a number of firms either exit or trim substantially their holdings in the basin, the expansion of smaller players and a raft of new entrants, are grappling with rather different economics than when the transactions were struck. But this does not necessarily translate into buyers’ regret across the board, according to the PE Live panellists. Debt is a major issue, con
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
