Horten assists Neptune Energy Group on major E&P transaction in the North Sea

On 28 June 2018, Neptune Energy Group ("Neptune Energy") announced that it had entered into a Sale and Purchase Agreement to acquire 100 % of the shares in VNG Norge AS from the German natural gas wholesaler and energy service provider, VNG AG. VNG Norge AS and the company’s Danish subsidiary, VNG Danmark ApS, are active within exploration and production (“E&P") in the North Sea.

A team from Horten headed by partners Mikkel Primdal Kæregaard and Christian Tullberg assisted Neptune Energy with the acquisition in relation to the Danish aspects.

Neptune Energy is a global E&P company with E&P activities in Europe (Norway, England, the Netherlands, France, Germany), North Africa (Egypt and Algeria) and the Asian part of the Pacific Ocean (Australia, Indonesia and Malaysia).
Neptune Energy's portfolio of E&P assets includes 268 licenses (as at 31 December 2017), of which Neptune Energy operates approx. half. In 2017, Neptune Energy produced approx. 4.7 million barrels of oil.

The Danish part of VNG Norge AS includes VNG Danmark ApS' interest in the Solsort project in the Danish North Sea (13.8 %).

The acquisition is expected to be completed in the Q4 of 2018.