THE energy firm Third Energy Holdings Limited has sold its Knapton-based onshore company, it has revealed.

In a statement, Third Energy said it has signed a sale and purchase agreement with York Energy (UK) Holdings Ltd to "divest the entire share capital of Third Energy Onshore Limited".

This sale includes the onshore gas exploration, appraisal and production company Third Energy UK Gas Limited, and Third Energy Trading Limited, which owns the power generating station at East Knapton.

Tom Reed, CEO of a firm called Alpha Energy, said: “We are pleased to be working with the Third Energy team to develop the group’s energy and generation business, and look forward to constructive engagement with all stakeholders in Third Energy’s next stage of development.”

York Energy (UK) Holdings Ltd is an affiliated company of Alpha Energy, a US-based energy company focused on acquiring and operating oil and gas assets.

Closing of the sale is subject to satisfaction of agreed conditions precedent, including regulatory review.

A Third Energy spokesperson confirmed that the sale wouldn't affect jobs at Knapton; as a company and not an asset sale, the people, contracts and responsibilities associated with the business are an integral part of the transaction, they said.

Third Energy is the company that grew close to fracking a site at Kirby Misperton in 2017 but, following large protests and calls for a financial resilience review by the Government, eventually withdrew the bulk of its fracking equipment.

More details to follow.