According to two sources, a potential deal could be valued at ‘several hundreds of millions’ of dollars.
In Germany, North Sea-focused Neptune reported production of approximately 18,000 barrels of oil equivalent per day (boepd) in the first half of 2021.
Neptune’s main assets in the European country are concentrated in the North German basin, the Altmark, and the Rhine Valley.
The company, which has a daily average production of 18,800boepd in Germany, supplies approximately 9% of gas in the country and 16% of its produced oil.
In August 2022, Neptune Energy CEO said the firm plans for an initial public offering, but not in 2022.
The company’s total output was more than 130,000boepd in the first half of 2022.
Shorelight owns German oil and gas company Oneo, which is engaged in boosting output from ageing oil and gas assets.
Earlier this year, Neptune Energy commenced gas production from the Adorf Z16 development well in its 100% owned Adorf Carboniferous gas field located in the municipality of Hoogstede, North Western Germany.
Neptune anticipates the Adorf Z16 well to increase its production to nearly 4,000boepd.
The Adorf Carboniferous gas field was brought into production in October 2020.