Kirk Lovegrove & Company (KLC) acted as financial adviser to Harbour Energy plc and Rockhopper Exploration plc on the sale of their interests in the Sea Lion oil & gas development offshore the Falkland Islands to Navitas Petroleum. As part of this transaction, Harbour Energy has exited the North Falkland Basin completely, and Navitas has gained a 65% interest in, and becomes operator of, licences PL003, PL004, PL005, PL0032 and PL0033. Rockhopper retains a 35% interest in all of these licences. The Sea Lion field was discovered by Rockhopper in 2010 and sits in ca. 450m water depth in the South Atlantic. Recoverable gross oil resource from the Sea Lion development has been estimated at 250 mmbbl, with potential gross plateau oil production of 80,000 barrels per day. Navitas and Rockhopper will now jointly pursue the development of the Sea Lion field.

This follows KLC acting as strategic and financial adviser to Sumitomo Corporation on the sale of its UK subsidiary Summit Exploration and Production to Ithaca Energy for $224 million plus customary adjustments. 

KeyFacts Energy Industry Directory: Kirk Lovegrove & Company