Chrysaor was born via a £100m investment from Chrysaor Holdings Ltd and Barclay Capital’s investment team Natural Gas Partner IX, L.P. Phil Kirk took most of the CH4 management team to the new start-up, harnessing their experience to focus not just on gas, but also on oil opportunities.
Founding strategy is to acquire oil and gas discoveries, apply development and commercial skills to de-risk and move assets further up the value chain, adding material value. To focus on development and commercialisation of dormant discoveries and incremental reserves.
Phoenix Block awarded to Chrysaor in UKCS 25th Licensing Round.
Chrysaor farmed-in to an exploration licence in the Republic of Ireland with Providence Resources and Sosina Exploration Ltd covering Spanish Point gas condensate.
Two successful boreholes were drilled on Solan.
A farm-out deal was signed with Premier Oil.
Phoenix block in the outer Moray Firth was awarded to the company in UKCS 25th licensing round.
Chrysaor continued its search for North Sea producing assets in discussions with various parties.
Mustard oil discovery (205/27-3 & 32) was drilled.
A deal was identified between Shell and Chrysaor, backed by equity from Harbour Energy.
A Chrysaor finance package was agreed allowing a bid to be made for the Shell assets.
Chrysaor’s US$3.0bn acquisition of a high-quality package of assets from Shell created the UK’s leading North Sea independent E&P company.
The team grew to 400 and Chrysaor opened its operational headquarters in Aberdeen city centre.
$1.5bn raised through reserves based loan.
The Company ended 2017 with interests in five of the 10 largest production hubs in the UK North Sea.
Estimated 2018 production 123,000 boepd at operating cost below $15/barrel.
A superb team of 400 employees and contractors on and offshore.
Established an operational HQ at the Capitol in the heart of the city of Aberdeen.
First half 2018 kicked off with two acquisitions:
– 100% of the equity in the Armada hub fields.
– Commitment to farm-in to the Grevling discovery, Norwegian North Sea.
Chrysaor acquired ConocoPhillips’ UK oil and gas business for $2.675 billion.
Chrysaor’s production increased to ~200,000 boepd, making the company the largest oil and gas producer in the UK North Sea.
The addition of Clair in April 2019 complemented the company's existing Schiehallion interest providing long-term cash flows and an investment opportunity.
Entered into an agreement with Apache Corporation to farm-in to five licences in the Beryl Area in April 2019.
Received approval for farm-in to the Grevling discovery in the Norwegian North Sea.