RWE Buys North Sea Gas Stake

摘要

Germany's RWE is to buy a 70% stake in a North Sea gas field and associated assets, worth around $350 million, following a trend of utilities buying gas fields to reduce their reliance on wholesale markets. RWE said Wednesday that it had bought the stake in Breagh - one of the North Sea's largest undeveloped gas fields - from five small exploration companies: Sterling Resources, Stratic Energy, Faroe Petroleum, Encore Oil and RegEnersys. It did not say what it paid, but four of the five companies said they had been paid, in total, almost $270 million for a 50% stake and other assets, implying a total consideration of around $350 million.