The owner of Lindsey Oil Refinery has bought exploration and production company Hurricane Energy in what it describes as a significant step to becoming a fully integrated operator.
Prax Group has announced the completion of the strategic acquisition of a business that holds a 100 per cent operated interest in the Lancaster offshore oil field in the West of Shetland.
Having been listed on the AIM-market, and valued at £250 million, the 19-year-old business adds to the refining, storage, distribution and sales divisions, and is said to be a natural progression.
