1947 Oil & Gas Debuts on London's AIM to Fund US Gulf Acquisition

Key Facts

11947 Oil & Gas began trading on London's AIM market after raising £30 million at 10p per share.

2The company plans to use proceeds to fund a $65 million acquisition of Houston-based Renaissance Offshore.

3The firm aims to boost production from its new US Gulf of Mexico assets by 50% over the next two years.

1947 Oil & Gas began trading on London's AIM market after raising £30 million at a price of 10p per share. Proactive Investors reported that the company intends to use the proceeds to fund a $65 million acquisition of Houston-based Renaissance Offshore.

The firm aims to boost production from its new US Gulf of Mexico assets by 50% over the next two years. This expansion follows economic data from September 22, 2026, which showed US API crude oil stocks increased by 1.786 million barrels, diverging from the forecast of a 0.5 million barrel decrease.