November 1, 2017

Acquisition via Chrysaor Holdings Limited Creates the Leading Independent E&P Company in the UK North Sea,

Provides Harbour Energy with its First Regional Growth Platform


WASHINGTON, D.C., November 1, 2017 – Harbour Energy, Ltd. (“Harbour Energy” or “Harbour’’) today announced the completion of the $3.0 billion acquisition of a package of oil and gas producing assets in the U.K. North Sea from Shell U.K. Limited and its affiliates (‘’Shell’’) via Chrysaor Holdings Limited (‘’Chrysaor’’). The transaction was announced on January 31, 2017 and has an effective date of July 1, 2016.

Through the acquisition, Harbour-backed Chrysaor becomes the leading independent oil and gas company in the UK North Sea. The acquired asset package includes a diversified portfolio of interests in ten operated and non-operated field areas. Production from the acquired assets is forecast to average approximately 120,000 net barrels of oil equivalent per day for 2017, with current unit operating costs running at less than $15 a barrel.

Harbour Energy is an investment vehicle managed by EIG Global Energy Partners (‘’EIG’’) with a strategy to pursue acquisitions of oil and gas assets globally. The transaction provides Harbour with a robust platform for organic and inorganic expansion in the North Sea region and marks the first leg of Harbour’s strategy to secure ownership positions in geographically focused platform companies with diversified, material asset portfolios and long-term growth potential.

Linda Z. Cook, the Chief Executive Officer of Harbour Energy and Chairman of Chrysaor, said, “We are very pleased to have closed the acquisition of the portfolio of U.K. North Sea assets from Shell. Our investment in Chrysaor to fund this acquisition provides us with a solid platform of high quality assets along with, importantly, an experienced management team and employee base in the region. We look forward to providing ongoing support to Chrysaor as it aims to solidify and expand its position as a leading independent oil and gas company in the North Sea and to replicate this strategy in other oil and gas producing regions around the world.”


About Harbour Energy

Harbour Energy is an energy investment vehicle formed to pursue investments in high-quality upstream energy assets globally. Harbour Energy is externally managed by EIG and led by a management team that includes Linda Z. Cook, a 29-year veteran of Royal Dutch Shell, as CEO and Terence Jupp, former Vice President of International Operations for Anadarko Petroleum, as COO. For more information, please visit www.harbourenergy.com.


About EIG

EIG specializes in private investments in energy and energy-related infrastructure on a global basis and had $17.0 billion under management as of September 30, 2017. Since 1982, EIG has been one of the leading providers of institutional capital to the global energy industry, providing financing solutions across the balance sheet for companies and projects in the oil and gas, midstream, infrastructure, power and renewables sectors globally. EIG has invested over $24 billion in more than 320 portfolio investments in 36 countries on six continents. EIG is headquartered in Washington, D.C., with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For more information, please visit www.eigpartners.com.


Important Legal Notice:

This announcement is being made for information purposes only and is not intended to be, and must not be taken as, the basis for an investment decision or any investment activity. This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any interest in Harbour Energy or any other entity, or any other securities in any jurisdiction including the United States, nor shall it form the basis of, or be relied upon in connection with, any contract or investment decision. Securities may not be offered or sold in the United States absent a registration statement or an exemption from registration. Nor is this announcement intended to be, and must not be taken as, any offer to purchase or invitation to sell, or any solicitation of any offer to purchase, or solicitation to sell, securities of Chrysaor.

Certain information contained herein constitutes "forward-looking statements," which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “target,” project,” “potential,” “estimate,” “intend,” “continue” or “believe,” or the negatives thereof or other variations thereon. Because of various risks and uncertainties, actual events or results or actual performance may differ materially from the events, results or performance reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements.


Media Contact

Sard Verbinnen & Co.
Robert Rendine / Brandon Messina
+1 212-687-8080