Deltic Energy Plc
DELT.L
London Stock Exchange7.00
GBp
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Deltic Energy Plc
DELT.L
(London Stock Exchange)
Recent
price
7.00
P/E
ratio
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div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Deltic Energy Plc is a United Kingdom-based natural resources investing company primarily engaged in the exploration, evaluation, and development of offshore gas and oil licenses, with a focus on the Southern and Central North Sea. The company’s core assets include exploration and appraisal licenses such as P2437 (Selene), P2428 (Cupertino), P2558 (Pensacola N), and P2542 (Syros), featuring substantial net recoverable resources estimated at around 56 million barrels of oil equivalent. Deltic's product portfolio centers on high-impact natural gas exploration targeting low-carbon energy alternatives and supporting UK energy security, with proven gas discoveries like the Selene field, which holds updated contingent resources of approximately 174 billion cubic feet of gas. Founded in 2012 and headquartered in London, Deltic operates through strategic partnerships and joint ventures with major industry players including Shell, Dana Petroleum, and Capricorn Energy, focusing on leveraging existing infrastructure to advance exploration and development prospects. In recent developments, Deltic Energy successfully executed a farm-down of a 25% interest in the Selene license to Dana Petroleum in 2024 ahead of drilling operations that enhanced volumetric resource estimates. The company announced two major gas discoveries in the North Sea, consolidating its position in the UK upstream energy sector. In 2025, Deltic entered into a recommended cash acquisition agreement with Viaro Bidco, a subsidiary of Viaro Energy, aimed at providing financial certainty and advancing key assets such as the Selene discovery and Blackadder exploration opportunity towards production. This acquisition is aligned with Viaro's broader strategic expansion in the UK North Sea, ensuring continuity for Deltic’s projects amid fiscal challenges in the sector. The transaction is set to complete in the fourth quarter of 2025, after which Deltic will be re-registered as a private limited company, reflecting a significant operational change and strategic shift. Throughout, Deltic continues to emphasize low-cost, low-carbon gas supply options as part of the UK’s energy transition and security framework.