Chrysaor Holdings Ltd
Chrysaor CNS Ltd
East Solan Basin 10%
South Solan Basin 50%
Dutch Bank Basin 100%
East Solan Basin 40%
West Solan Basin 100%
Chrysaor Holdings Limited is the ultimate holding company of the Chrysaor group. Chrysaor Limited and Chrysaor CNS Limited are wholly owned subsidiaries of Chrysaor Holdings Limited.
Chrysaor Holdings Limited is incorporated in the Cayman Islands; Chrysaor Limited and Chrysaor CNS Limited are incorporated in the UK. Whilst Chrysaor Holdings Limited is incorporated in the Cayman Islands to facilitate US inward investment and increase flexibility around dividend distributions to shareholders, each of Chrysaor Holdings Limited, Chrysaor Limited and Chrysaor CNS Limited are managed from the UK and are, and have always been, UK tax resident companies. As such, there is no UK tax advantage gained by virtue of Chrysaor Holdings Limited being incorporated in the Cayman Islands.
Chrysaor was originally owned by its management team, funds advised by Global Natural Resource Investments (“GNRI”) and a fund managed by Natural Gas Partners (“NGP”). Together they provided an initial $160m equity facility including $6m from the management team. Chrysaor has used the equity facility to acquire its main core assets the Solan Oil discovery and a significant acreage position in the UK 27th and 28th Licensing Rounds.
In July 2013, Chrysaor announced a follow-on fundraising from a combination of new and existing shareholders together with a further investment by senior management.