1947 Oil & Gas Targets £50mn London IPO

1947 Oil & Gas Plans £50mn London AIM IPO to Fund $65mn Acquisition

1947 Oil & Gas Plc, an oil startup backed by former Goldman Sachs commodities chief Jeff Currie, announced plans to list on the London Alternative Investment Market (AIM) in the coming month.

The company intends to raise £50 million (approximately $67 million) by offering shares at about 10 pence each. At that price, the implied market capitalization would be about £64 million.

The proceeds are earmarked to finance the acquisition of Renaissance Offshore LLC, a privately held offshore producer. The transaction value is $65 million. Renaissance Offshore currently produces roughly 3,350 barrels of oil equivalent per day from shallow‑water fields off Louisiana in the Gulf of Mexico.

Jeff Currie, who spent over two decades at Goldman Sachs before joining Carlyle Group, is a founder and non‑executive director of 1947 Oil & Gas. Executive chairman Tim Duncan, the founder and former chief executive officer of Talos Energy Inc., has also joined the company.