The Waldorf Group today announce that the Joint Administrators of Waldorf Energy Partners Limited (“WEPL”) and the Joint Administrators of Waldorf Production Limited (“WPL”) have entered into a binding share sale and purchase agreement with a wholly-owned subsidiary of Harbour Energy for the sale of the Waldorf Group, save for Waldorf Energy Finance plc (“WEF”), WEPL and WPL. 

The Waldorf Group has also entered into a lock-up agreement (“Lock-up Agreement”) in support of the Transaction with, amongst others, the holders of approximately 87% of the outstanding principal of the bonds issued by Waldorf Production UK plc (“WPUK”), the holders of approximately 40% of the outstanding principal of the bonds issued by WEF, Capricorn Energy plc and Alpha Petroleum (UK) Holdings Limited.

Paul Tanner, Chief Executive Officer of the Waldorf Group, said:
“This transaction will deliver an outcome which is beneficial for the Waldorf Group and its stakeholders including creditors, customers, suppliers and joint venture partners. We are delighted that custodianship of the Group’s assets will be passed to Harbour Energy, one of the leading UK North Sea operators, ensuring they are in the right hands for the future.

We recognise that the past few years have been challenging for both Waldorf and the broader UK North Sea oil and gas industry. We would like to thank the Group’s stakeholders, not least our joint venture partners, for the support that has been shown during this period. We look forward to working closely with Harbour Energy during the coming months to achieve a safe transfer of operations and closing in the second quarter of 2026.”

The Transaction is subject to satisfaction of certain conditions precedent, including NSTA consent and the settlement of certain of the Waldorf Group’s liabilities including by way of restructuring plans pursuant to Part 26A of the Companies Act 2006.

Following announcement of the Transaction and further to the announcement made on 15 October 2025, WPUK has decided to no longer pursue its appeal to the Supreme Court and will now move to withdraw the appeal.

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