Third Energy Onshore

Third Energy Onshore Ltd is a UK company involved in oil and gas exploration, including proposals for fracking operations in Kirby Misperton, North Yorkshire.

The company was incorporated as Viking Petroleum UK Ltd in October 2003.[1] In December 2003, it acquired a 40% holding in the Ryedale gas fields in North Yorkshire from Edinburgh Oil and Gas plc.[2] In October 2013, Viking acquired Tullow Oil's 60% share in onshore oil interests relating to the North Yorkshire gas fields and operation of the gas-fired Knapton Power Station in October 2013[3] (Knapton is supplied by gas wells in the Kirby Misperton area).[4] Viking changed its name to Third Energy Onshore in October 2013.[1]

Third Energy Onshore was 97% owned by Barclays' private equity division, Barclays Natural Resource Investments;[5] its ultimate parent company, Third Energy Holdings, is based in the Cayman Islands.[6] Sister company Third Energy Offshore was acquired from Third Energy Holdings by Hague and London Oil plc in September 2018,[7] with the deal formally approved in December 2018.[8]

In October 2018, owner Barclays was reported to be considering selling Third Energy Onshore rather than invest a further £5m to make the Kirby Misperton fracking site fully functional in the next 12 months.[9] In March 2019, financial adviser Lazard was reported to be talking to rival energy companies about investing in or acquiring Third Energy Onshore's business.[10] In July 2019, Third Energy Onshore and two sister companies were sold to York Energy, a subsidiary of US-owned Alpha Energy.[11][12]

  1. ^ a b "THIRD ENERGY ONSHORE LIMITED". Companies House. Retrieved 10 February 2018.
  2. ^ "Edinburgh Oil & Gas Disposal". FE Investigate. Retrieved 10 February 2018.
  3. ^ "UK: Tullow completes Thames acquisition and sells onshore operations". Energy-Pedia News. 1 December 2003. Retrieved 10 February 2018.
  4. ^ Evers, Angus (10 February 2017). "Hydraulic fracturing - the third way". Shoosmiths. Retrieved 10 February 2018.
  5. ^ Cite error: The named reference Gosden was invoked but never defined (see the help page).
  6. ^ Cite error: The named reference Vaughan-19Feb2018 was invoked but never defined (see the help page).
  7. ^ Lammy, Mark (19 September 2018). "Halo snaps up Pegasus stake with Third Energy acquisition". Energy Voice. Retrieved 11 April 2019.
  8. ^ Pai, Laxman (2 January 2019). "Halo Completes Acquisition of Third Energy Offshore". Offshore Engineer. Retrieved 11 April 2019.
  9. ^ Todd, Felix (29 October 2018). "What is Third Energy? The UK energy firm whose financial woes could stop its fracking operations". Compelo. Retrieved 11 April 2019.
  10. ^ Kleinman, Mark (12 March 2019). "Barclays-backed fracker Third Energy courts rivals for cash". Sky News. Retrieved 11 April 2019.
  11. ^ Mackie, David (10 July 2019). "Ryedale gas company Third Energy finalises sale to US firm". The Press. Retrieved 15 July 2019.
  12. ^ Burn, Chris (10 July 2019). "Fracking fears reignited for Yorkshire village as US firm buys shale gas company Third Energy". Yorkshire Post. Retrieved 15 July 2019.