Ansila Energy Acquires Remaining Shares in Hartshead Resources

Updated 7 months 2 weeks ago

Ansila Energy has reached an agreement in December 2020 to acquire the remaining 78.4% stake in Hartshead Resources in an all-share deal to create a North Sea gas developer. Hartshead was awarded five contiguous blocks in the southern North Sea as part of the U.K.'s 32nd offshore licensing round. The company also has four existing discoveries totaling 354 billion cubic feet (bcf) of 2C resources. Phase I of development includes the Victoria and Viking Wx field with 217 bcf of resources, and Phase II includes the Audrey Northwest and Tethys North fields with 139 bcf of resources. The Phase III exploration portfolio contains 141 bcf of 2U resources in two drill-ready prospects.

Christopher Lewis will be appointed CEO, and Andrew Matharu will be CFO. The company also planned an AUD 7.0 million placement to fund development. Hartshead was founded in April 2019. The Hartshead team was previously backed by First Reserve in 2003 with Caledonia Oil & Gas which acquired Consort Energy that was sold to E.ON for GBP 470 million.