Investment Highlights
- Leading UK independent exploration and production company, operating the majority of its 2P reserves and 2C resources
- Balanced portfolio between oil and gas assets, with gas representing c.35% of production in the first nine months of 2022
- Access to flagship assets, with stakes in six of the top ten largest fields in the UKCS, including the two largest undeveloped discoveries, Cambo and Rosebank, to drive organic growth
- Continued focus on safety leadership and performance
- Integrated ESG mindset with a target to cut emissions by 25% across our operated assets by 2025, and in the medium to longer-term achieve Net Zero by 2040
- Strong financial discipline and robust Balance Sheet with a leverage position of 0.9x at end H1 2022, supporting future growth
- Growth Strategy focused on a combination of organic activities and value-accretive acquisitions
- Track record of material value creation, delivering a 5.4x increase in equity value between 2018 and 30 June 2022