Waldorf Production administrator puts North Sea assets on sale
By Ron Bousso
LONDON, July 10 (Reuters) -Administrators of North Sea oil and gas producer Waldorf Production have put the company's holdings up for sale, according to a sales document seen by Reuters.
Privately-owned Waldorf Production filed for administration after it defaulted on a bond payment in June, when Interpath Advisory was named as administrators.
The administrators this week launched the sale of Waldorf's oil and gas assets, which include a 40% stake in the Catcher field, which is operated by Harbour Energy HBR.L, and a 29.5% stake in the EnQuest-operated ENQ.L Kraken field, according to the document.
Stakes in a total of 10 fields are up for sale with a net production of 22,000 barrels of oil equivalent per day (boed) in 2023. The assets generated revenue of $644 million last year.
The value of the portfolio was unclear.
Interpath declined to comment. Waldorf Production did not reply to a request for comment.
The sale comes at uncertain times for UK North Sea oil and gas producers after the Labour Party came into power in last week's general election with a pledge to increase tax on producers.
Reporting by Ron Bousso; Editing by Emelia Sithole-Matarise
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