1947 Oil & Gas Lists on AIM to Buy Renaissance Offshore

1947 Oil & Gas will list on the AIM market in August 2026, raising £50 million to acquire Renaissance Offshore, a Houston-based producer. The acquisition targets eleven shallow-water fields in the Gulf of Mexico for a headline consideration of $65 million. To facilitate the listing, the company will issue 500 million shares at 10p, establishing an initial market capitalization of £65 million. This follows a pre-listing funding round that raised approximately £7.2 million.

Netherland Sewell and Associates valued the assets at $346 million, with proven and probable reserves totaling 19.7 million barrels of oil equivalent. The board, led by Tim Duncan, intends to focus on undervalued conventional shallow-water assets. The company plans to implement a progressive dividend policy starting after the June 2027 half-year results.