The Hungarian oild and gas company MOL has successfully closed the previously announced deal with Waldorf Production Limited (“Waldorf”) regarding the sale of its entire E&P portfolio in the United Kingdom.
The company said in a statement that the divested offshore assets include MOL’s 20% stake in the Catcher field, a 50% stake in Scolty & Crathes and a 21.8% stake in Scott as well as stakes in a number of other licences.
"As announced on 23 March 2022, the agreed base cash consideration amounts to USD 305mn, which is subject to customary purchase price adjustments and is based on an economic effective date of January 1, 2021. In addition, the agreement contains an earn-out scheme mainly dependent on oil prices during 2022-2025," the company statement concluded.
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