Tracked deals
4
4 tracked deals across 2020-2025.
Operating Company
Energy
NEO NEXT+ Energy
Aberdeen, Scotland, United Kingdom
Formerly known as NEO Energy, NEO NEXT, NEO NEXT Energy
NEO NEXT+ Energy Limited is a UK Continental Shelf upstream operator with a strategy summarised as “Resilience, Yield and Growth,” created through the consolidation of NEO Energy, Repsol Resources UK and TotalEnergies’ UK offshore oil & gas business.
- Focus Areas
- Upstream Oil & Gas, Offshore Production, Field Development
- Website
- neonextplus.com
Recent pace
0
0 tracked deals announced in the last 12 months.
Deal mix
Divestiture
3 divestiture · 1 addon
NEO NEXT+ Energy Acquisition Volume by Year
Last 3 years
Supporting Data
Recent Transactions
-
March 27, 2025
- Buyer
- NEO Energy, Repsol Resources UK
- Target
- Repsol Resources UK
- Industry
- Energy
- Location
- Scotland, United Kingdom
- Type
- Divestiture
NEO Energy and Repsol Resources UK have agreed a strategic merger to create NEO NEXT, a jointly owned upstream producer on the UK Continental Shelf. Under the terms, NEO will hold 55% and Repsol UK 45% of the combined business; Repsol will retain USD 1.8 billion of related decommissioning liabilities. Completion is subject to regulatory approvals and is expected in Q3 2025.
-
February 24, 2021
- Buyer
- NEO Energy, HitecVision
- Target
- Portfolio of non-operated oil and gas assets in the Central and Northern North Sea (from ExxonMobil)
- Seller
- ExxonMobil
- Industry
- Energy
- Location
- Scotland, United Kingdom
- Type
- Divestiture
NEO Energy, backed by HitecVision, has agreed to acquire a portfolio of 21 non-operated oil and gas assets in the Central and Northern North Sea from ExxonMobil for more than USD 1 billion (with up to ~USD 300 million contingent). The deal materially increases NEO's production (adding ~40,000 boepd and >140 million boe of reserves), positioning the company among the top five UK oil and gas producers and supporting rapid near-term growth on the UK Continental Shelf.
-
January 1, 2021
- Buyer
- NEO Energy, HitecVision
- Target
- Zennor Petroleum Limited
- Seller
- Kerogen Capital
- Industry
- Energy
- Location
- United Kingdom
- Type
- Addon
NEO Energy, backed by private equity firm HitecVision, has acquired independent oil and gas company Zennor Petroleum Limited in a transaction valued at up to USD 625 million (including deferred and contingent consideration). The deal increases NEO’s operated UK Continental Shelf portfolio and production profile, adds ~40 mmboe of reserves and >90 mmboe of un‑risked resource, and brings the Zennor team into NEO (raising combined headcount to over 180).
-
August 3, 2020
- Buyer
- NEO Energy, HitecVision
- Target
- UK North Sea asset portfolio (Quad 15 and Flyndre areas)
- Seller
- Total Oil UK Ltd, Total E&P North Sea UK Ltd
- Industry
- Energy
- Location
- Scotland, United Kingdom
- Type
- Divestiture
NEO Energy, with support from private equity firm HitecVision, acquired a portfolio of operated and non‑operated UK North Sea assets from Total Oil UK Ltd and Total E&P North Sea UK Ltd. The portfolio (including the Quad 15 and Flyndre clusters) averaged ~23,000 boepd in 2019, adds roughly 51 MMboe of reserves, and transfers an operator organisation of ~60–80 employees; the revised deal included vendor financing and earnout mechanisms and completed in mid‑2020.
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