Viaro Agrees to Buy North Sea Gas Assets From Shell, Exxon (1)

Viaro Energy Ltd. agreed to buy a number of gas fields in the UK North Sea from Shell Plc and Exxon Mobil Corp., giving the closely held company its first role as an offshore operator in the country.

Viaro will take full ownership of the Bacton onshore gas terminal and 11 offshore facilities that produced around 28,000 barrels of oil equivalent last year, according to a statement from the company on Tuesday. That’s equivalent to about 5% of total UK gas output and the company said it sees potential to expand production further.

Completing the acquisition would make Viaro the ...