With CUE marketing off most of their North Sea, Aberdeen assets, who would be the most favoured buyer?
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Latest news is that there was alot of interest in the CVX North Sea (CUE) assets. The list has been cut to a shortlist. The shortlisted companies are getting access to datarooms and more information prior to making their bids. Once bids are submitted they will be reviewed and one chosen. Looks like CUE will disappear by the end of 2019. No more nice expat assignments for senior management prior to retiring!!
Supposedly lots of interest in CUE assets from a marketing source. A mixture of companies looking at the assets and hopefully for end of year announcement!
It will go to the highest bidder among several. Nexen will bid for sure. Probably Wintershall. Maybe Total and Equinor. Not Esso, RDS, BP or Conoco.
I can’t see how the North Sea can sustain an offshore oil industry any more so why would anyone want to buy assets there. Climate change projections are telling us CO2 emission has to drop by replacing fossil fuel with alternative energy. Germany has invested $580b in alt energy projects to ensure they become one of the leading players.
Nexen Lacks the balls, they might be a partner but not the operator. One way or the other the big money will come from Norway.
Nexen would be a potential buyer, it certainly won’t be any of the majors