Houlihan Lokey Advises Jersey Oil & Gas

Transaction: Jersey Oil And Gas - Serica Energy

Houlihan Lokey is pleased to announce that Jersey Oil & Gas PLC (JOG) farmed out a 30% interest in the Greater Buchan Area (GBA) development to Serica Energy for a 7.5% development cost carry, 7.5% carry of pre-FID costs, and up to $20.3 million in cash. This transaction closed on February 26, 2024. 

As a result of the transaction and the previously completed transaction with NEO Energy, JOG will retain a 20% interest in the GBA development project with a full carry of the Buchan development costs. 

Houlihan Lokey acted as financial advisor to Jersey Oil & Gas with respect to a 30% W.I. farm-out of its interest in the Greater Buchan Area to Serica Energy.

RELATED: Oil & Gas, Corporate Finance