Kistos Holdings plc said that first oil was now expected at the end of 2024 from the Balder and Ringhorne oil and gas fields in Norway. ENCOURAGED Kistos acquired a 10% interest in Balder, comprising the Balder and Ringhorne fields, and a 7.4% stake in the Ringhorne East unit via its purchase of Mime Petroleum […]
Tag: Mime Petroleum A.S.
Kistos completes Mime assets acquisition
Kistos Holdings plc has completed its US$111 million acquisition of all the outstanding shares of Mime Petroleum A.S. with assets in the Norwegian Continental Shelf. OBJECTIVES The company said that the purchase adds 24 MMboe of 2P reserves at Balder and Ringhorne, based on the operator’s estimate. An additional 30 MMboe of 2C resources are […]
Kistos turns from ‘difficult’ UK to Norway
Kistos Holdings plc plans to expand into the Norwegian Continental Shelf with a conditional agreement to acquire Mime Petroleum A.S. BALDER – RINGHORNE Executive chairman Andrew Austin said that commodity price volatility and fiscal uncertainty had made it difficult to agree deals in the UK and the Netherlands. “I expect Mime to be a platform […]