Dagens Næringsliv writes that while traditional oil companies are shrinking their investment budgets, the opportunity for new entrants opportunities. So-called oppkjøpsfond, also called private equity or PE funds, are now behind tens of new actors on the Norwegian continental shelf.
Pandion is the last new initiative of this type, owned by the PE fund Kerogen. A handful of Norwegian oljeveteraner can now go ahead to purchase the asset, with between 100 and 300 million dollars in the back.
– Kerogen is a PE fund that is specialized on oil and gas upstream, and invested in two oil companies on the uk continental shelf in 2015 and 2016. We are their first investment on the Norwegian continental shelf, ” says Pandion-chief Jan Christian Ellefsen.
According to the newspaper, there are tens of similar actors who are positioning themselves to pull the solder in the Norwegian oljelotteriet. Overall, these nykomlingene call on about 20 billion dollars in fondskapital. This figure is based on an estimate based on the official information about the kommittert capital. That is to say the framework for the equity of the companies have provided to you. In addition, the oil companies up loans.
– When many will sell, it is interesting to be on the buyer. PE capital is looking for bargains. It is easier to make bargains when there are many sellers, says the chief financial officer of Origo, Ørjan Gjerde.
(©NTB)
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