“Spirit Energy Ltd.” is the name of the European oil and gas joint venture combining Centrica PLC’s exploration and production business with Bayerngas Norge AS.
The company has begun trading as an independent oil and gas operator after receiving regulatory approvals of the transaction, first reported in July (OGJ Online, July 17, 2017).
Centrica owns 69% of Spirit Energy. Bayerngas Norge’s former shareholders, led by Stadtwerke Munchen Group, own 31%.
The joint venture produces about 50 million boe/year of oil and natural gas from 27 fields in the UK, the Netherlands, Norway, and Denmark. It holds more than 70 exploration licenses.
Chris Cox, formerly managing director of Centrica E&P, is chief executive officer.