https://www.bnnbloomberg.ca/neptune-energy-working-with-rothschild-as-it-studies-ipo-1.1604831

(Bloomberg) – Neptune Energy Group Ltd., the oil and gas explorer backed by Carlyle Group Inc. and CVC Capital Partners, is working with financial adviser Rothschild & Co. to explore potential options including an initial public offering, according to people familiar with the matter.

The company, formed in 2015, could be valued at more than $5 billion in a listing, the people said, asking not to be identified as the matter is private. It’s also studying alternative strategic options such as merging with another exploration firm, but no final decisions have been made and deliberations are at an early stage, they said.

Neptune and Rothschild declined to comment.

Neptune was founded by former Centrica Plc boss Sam Laidlaw with backing from the private equity firms and sovereign wealth fund China Investment Corp. It has grown mostly through acquisitions, snapping up a swath of fields when it bought the exploration and production arm of Engie SA in 2017. It also purchased a 20% stake in the East Sepinggan area off Indonesia from Eni SpA. The company said previously that it expected to list in 2020 or 2021.