Neptune Energy Chairman Sam Laidlaw is considering a potential 7 billion pound (US$9.9 billion) IPO for the British oil and gas company, The Times reported on May 23.
Laidlaw, who was formerly head of Centrica, is close to appointing JP Morgan to explore options for Neptune, including a listing or sale to a rival, the report said.
Neptune Energy did not immediately respond to a Reuters request for comment.
The company was founded in 2015 with private equity backing from investors including Carlyle and CVC. It has operations across Europe, North Africa and the Asia Pacific region, its website says.
Neptune this month reported first-quarter gas production of about 125,700 boe/d, in line with its expectations but down from the 139,000 boe/d a year earlier.
It also said it expects production to increase “materially” in the fourth quarter of this year. (US$1 = 0.7068 pounds)
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