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Prices & Quotes - UK Markets - SSE (SSE)

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Share Price:
Down 1,310.50p
Change Today:
-7.50p
Market Cap:
13,658m
Sector:
Electricity

SSE to sell gas E&P assets to Viaro Energy for 120m

By Michele Maatouk

Date: Tuesday 22 Dec 2020

LONDON (ShareCast) - (Sharecast News) - SSE has agreed to sell its portfolio of gas exploration and production assets to Viaro Energy for 120m.
The portfolio comprises non-operational equity shares in more than 15 producing fields in three regions in the North Sea: the Easington Catchment Area, the Bacton Catchment Area, and the Greater Laggan Area.

As part of the transaction, SSE will retain an obligation to pay 60% of the decommissioning costs, payable as the decommissioning of the assets occurs.

Finance director Gregor Alexander said: "We have said for some time that gas exploration and production assets are inconsistent with our future ambitions and vision to be a leading energy company in a net-zero world.

"This sale clearly comes at a difficult time for the E&P sector, and the economy as a whole, but we believe it is the right move for our shareholders as we focus our resources on our core low-carbon businesses.

"It represents further progress on our strategy to dispose of non-core assets as we look to invest 7.5bn in essential low-carbon energy infrastructure over the next five years, driving the UK's transition to a net-zero future."



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SSE Market Data

Currency UK Pounds
Price 1,310.50p
Change Today -7.50p
52 Week High 1,635.00p
52 Week Low 1,072.50p
Volume 1,591,164
Shares Issued 1,042.20m
Market Cap 13,658m

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What The Brokers Say

Strong Buy 9
Buy 1
Neutral 6
Sell 1
Strong Sell 1
Total 18
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SSE Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Jan-21 23-Jul-20
Paid 11-Mar-21 18-Sep-20
Amount 24.40p 56.00p

Trades for 05-Mar-2021

Time Volume / Share Price
16:35 239 @ 1,310.50p
16:35 735,780 @ 1,310.50p
16:29 130 @ 1,309.00p
16:29 242 @ 1,309.00p
16:29 242 @ 1,309.50p

SSE Key Personnel

CEO Alistair Phillips-Davies
Finance Director Gregor Alexander
Chair Richard Gillingwater