After a record-breaking year for M&A in the North Sea in 2017, and 2018 not far behind on value and with a larger number of deals, 2019 has arrived with no let-up in activity, with a plethora of assets up for grabs and, seemingly, no shortage of interest from buyers. Why invest in this middle-aged arena? Has age diminished its charm, or made it more alluring? Private equity–backed companies have been keen buyers; Have they grown value, and how and when will they exit? Technical and commercial innovation are driving value; How have the “specialists” transformed the landscape? Are we kicking the decommissioning issue down the road?