Some of the largest independent oil producers in the North Sea are examining the offers for operations upstream of the Prax group, the energy conglomerate whose collapse triggered the closure of one of the rare oil refineries in Great Britain.
Sky News learned that in around and Serica Energy were in talks with administrators giving the insolvency of the group’s parts on the submission of tenders for its exploration and production arm before a deadline on Thursday evening.
Ithaca Energy, another independent player, also had discussions on an offer but decided not to hold one, according to a source close to the company.
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Prax’s E & P arm is largely made up of the assets it has acquired when it has plunged for the energy of the hurricane in an agreement of 250 million pounds sterling in 2023.
The upstream assets are not themselves in insolvency procedures, although the money generated by their sale will be used to reimburse creditors from the larger group.
The deadline for submission comes the same week that the official recipient said that the Prax Lindsey refinery in Lincolnshire would close after no buyer was found for this.
Hundreds of jobs will be lost following the closure.
A sales process is also pending for his downstream forecourt company.
A spokesperson for Teneo, state petroleum administrators and other assets of the PRAX group, said: “Management and operation in the course of Prax E & P and its subsidiaries are a question for the administrators of these companies.”
Inquest, Ithaca and Serica all refused to comment.