A takeover of Deltic Energy by one of the North Sea’s largest producers has moved a major step closer after the AIM-listed firm confirmed it has repaid all outstanding debt owed to RockRose Energy.
The London-listed explorer said it had now cleared all amounts outstanding under a term loan facility agreed with RockRose Energy in June 2025, following the drawdown of a separate £2.9 million facility provided by NEO NEXT+ Energy Upstream UK.
The funding forms part of NEO NEXT+’s recommended cash acquisition of Deltic, announced earlier this month.
NEO NEXT+ was created through the merger of TotalEnergies’ UK upstream business with NEO Energy and is now one of the largest producers in the UK North Sea. Its shareholders include TotalEnergies, HitecVision and Repsol.
The company offered 7.7p per share for Deltic in a deal valuing the Southern North Sea-focused gas explorer at around £7.2 million.
The latest update marks further progress towards completion of the deal after a previous bid by RockRose Energy, a subsidiary of Viaro Energy, failed to complete before receiving regulatory approval.
FSTE100
The UK's flagship share index, the FTSE 100, was down 13-points at 10,182 shortly after opening this morning.
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