RockRose Energy completes its acquisition of Netherlands company

RockRose Energy Plc has announced the completion of the acquisition of Dyas B.V., a wholly owned subsidiary of Netherlands-based SHV Holdings.

The effective date of the Dyas acquisition was January 1, 2018. On this basis, pro-forma production for the year to date for the group was circa 11,000 BOEPD, split equally between oil and gas.

RockRose has cash at bank at completion of $111m (around £85m) of which $52.5m (around £40m) is restricted. The working capital adjustment attributable to the acquisition of Dyas B.V was 77.3m€.

Andrew Austin, executive chairman of RockRose Energy, said: “The completion of this acquisition is a major milestone for RockRose as we build a North Sea-focused business of size and scale.

“The company continues to review potential acquisitions while maximising opportunities within our existing asset base.”