Gran Tierra Energy has announced that a wholly owned subsidiary of the Company has signed an agreement to sell its wholly owned subsidiary, Gran Tierra North Sea Limited ('GTNSL'), to NEO Energy for total consideration of US$7.5 million. NEO Energy is a private upstream company and a leading independent operator in the United Kingdom Continental Shelf.
GTNSL holds a 100% equity interest in UKCS licence P2358 which includes the Serenity Discovery.
Completion of the transaction is subject to certain customary conditions precedent, including consent from the North Sea Transition Authority in respect of the change of control of GTNSL. The transaction is expected to close sometime in the third quarter of 2025.
See also, NEO Energy announcement: 'NEO Energy today announces it has signed an agreement to acquire Gran Tierra North Sea'.
Source: Gran Tierra Energy
