New North Sea independent oil company launched
Private equity investor HitecVision has provided $150 million of backing for a new North Sea oil company headquartered in the London area.
Oyster Petroleum’s management team comprises Richard Morgan as CEO, Nigel Platt, and David Went. All three have prior experience of building exploration portfolios in the North Sea, having worked together for companies, including VeritasDGC, where they created another start-up, Sussex Energy, which was acquired by Enovation Resources in 2007.
HitecVision previously supported start-up companies Revus Energy, Noreco,Spring Energy, Core Energy, and Spike Exploration.