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20 Jan 2023 07:00
20 January 2023
Longboat Energy plc
("Longboat Energy", "Longboat" or the "Company")
Updated Corporate Presentation
Longboat Energy, the emerging full-cycle E&P company, is pleased to announce that an updated corporate presentation is now available on its web site at www.longboatenergy.com
The information contained within this announcement is not considered to be inside information prior to its release.
Ends
Enquiries: | |
Longboat Energy | |
Helge Hammer, Chief Executive Officer Jon Cooper, Chief Financial Officer Nick Ingrassia, Corporate Development Director | via FTI |
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker) | |
Callum Stewart Jason Grossman Simon Mensley Ashton Clanfield | Tel: +44 20 7710 7600 |
FTI Consulting (PR adviser) | |
Ben Brewerton Rosie Corbett | Tel: +44 20 3727 1000 longboatenergy@fticonsulting.com
|
Background
Longboat Energy was established at the end of 2019 to create a full-cycle E&P company through value accretive M&A and near-field exploration. Since June 2021, Longboat has entered a series of four transactions to acquire interests in a portfolio of nine, gas-weighted exploration wells drilling on the Norwegian Continental Shelf close to existing infrastructure. To date, eight of these wells have been drilled resulting in five hydrocarbon discoveries (Egyptian Vulture, Mugnetind, Rødhette, Kveikje and Oswig), representing a 63% success rate.
Longboat has targeted exploration prospects located in close proximity to existing infrastructure, with an overlap between exploration partners and infrastructure owners, providing a portfolio with a clear low-cost route to monetisation and low-carbon drilling and development opportunities, well aligned to Longboat's ESG targets which includes a corporate 'Net Zero' on a Scope 1 and 2 basis by 2050.
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