Net debt to EBITDAX
Neptune is a strongly cash-generative, gas-weighted, exploration and production company. We operate at scale internationally and aim to become the world’s leading international independent E&P. We use our financial strength and technical capabilities to promote sustainable growth.
We generated $1,156m in operating cashflow in 2018 and at year end had more than $1.1 billion of liquidity available.
With private equity backing and blue-chip institutional investors, we have the financial backing to pursue both organic and inorganic growth opportunities.
Our Executive Chairman and founder Sam Laidlaw set up Neptune with private equity investors in 2015 to invest in large oil and gas portfolios.
The acquisition of ENGIE E&P International (EPI) in February 2018 marked a new beginning for the Company. This transformative transaction made us one of Europe’s largest international independent E&P companies. At the same time, China Investment Corporation (CIC) became our largest single shareholder.
In May 2018, our first-ever bond issue, a seven-year £550 million facility, extended our capital resources. In August, the acquisition of major exploration assets in the CNS sector strengthened our UK portfolio. In September, we acquired VNG Norge to consolidate our status as a top-five independent producer on the Norwegian continental shelf.