KEO Energy
LOI (under discussion)Energy · oil and gas energy operations
- What it is
- KEO Energy is a wholly owned subsidiary of Keo Capital AB (Nasdaq Stockholm: KEOC), with a principal asset consisting of an indirect equity interest in a joint venture holding interests in the PetroUrdaneta Project in the Bolivarian Republic of Venezuela.
- What it’s doing now
- Merging with Lionheart Holdings (CUB) — loi (under discussion), announced Jul 20, 2026.
- What you should know
- Data is still being assembled for this company — what is shown below is everything we have verified so far.
The business, per its filings
SEC primaryKEO Energy is a wholly owned subsidiary of Keo Capital AB (Nasdaq Stockholm: KEOC), with a principal asset consisting of an indirect equity interest in a joint venture holding interests in the PetroUrdaneta Project in the Bolivarian Republic of Venezuela.
Source: 8-K, accession 0001213900-26-079654 · extraction confidence: medium
What the company says about itself
Web research — not auditedKeo Energy provides business solutions focused on utilities management, automation, and AI assistants tailored for commercial businesses, industrial companies, and restaurant chains. The company emphasizes transparent pricing and consulting services.
- Markets:
- Utilities | Automation | Commercial Businesses | Industrial Companies | Restaurant Chains
- Products:
- Utilities Management | AI Assistants | Energy | Card Machines | Broadband Plans | Consulting Services
- Customers:
- Tech Solutions | Green Innovations | Urban Utilities | Eco-Friendly Solutions | Business Dynamics | Future Tech
[WEB-INTEL 2026-08-21] 3 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Lionheart currently holds about $200 million in a trust account." [https://www.stocktitan.net/news/CUB/keo-capital-enters-into-a-non-binding-letter-of-intent-for-proposed-tasio41xpaop.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The parties intend to negotiate and execute a definitive agreement, targeted for 17 August 2026." [https://finance.yahoo.com/markets/stocks/articles/keo-capital-enters-non-binding-180000836.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The LOI includes a preliminary indicative pre-money enterprise value of $400 million for KEO Energy, subject to due diligence and Venezuelan fiscal terms" [https://www.stocktitan.net/news/CUB/keo-capital-enters-into-a-non-binding-letter-of-intent-for-proposed-tasio41xpaop.html]
Source: https://keoenergy.com/ · captured Aug 21, 2026 · marketing claims are reported as claims, never merged into the filed figures above.
The deal it’s entering
KEO Energy is merging with Lionheart Holdings (CUB), a $230M SPAC currently marked Deal announced and trading at $10.88 against $10.89 in trust per share.
| Headline equity value | — |
How to read these numbers: headline vs effective valuation · what a definitive agreement commits
What exactly is being valued, and at what
The listed companies it is measured against
| Ticker | Company | Mkt cap | EV / revenue | EV / EBITDA | Why it’s comparable |
|---|---|---|---|---|---|
| BRN | Barnwell Industries Inc | $13M | — | — | Operational comp: Oil & Gas Exploration and Production (NEC); micro-cap ($13m); shares interest, oil, gas, interests, subsidiary, wholly with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.more ▾less ▴ |
| VTS | Vitesse Energy Inc | $782M | — | — | Operational comp: Oil & Gas Exploration and Production (NEC); small-cap ($782m); shares interests, oil, gas, consisting, energy, the with the target's own description; forward EV/Sales 2.9x.more ▾less ▴ |
| VNOM | Viper Energy Inc | $13.8B | — | — | Operational comp: Oil & Gas Exploration and Production (NEC); large-cap ($13.8bn); shares interests, oil, interest, gas, energy, subsidiary with the target's own description; forward EV/Sales 9.6x.more ▾less ▴ |
| MUR | Murphy Oil Corp | $4.5B | — | — | Operational comp: Oil & Gas Exploration and Production (NEC); mid-cap ($4.5bn); shares interest, oil, gas, consisting, interests, with with the target's own description; forward EV/Sales 2.0x.more ▾less ▴ |
| FITB | Fifth Third Bancorp | $31.0B | — | — | Operational comp: Corporate Banks; large-cap ($31.0bn); shares indirect, asset, holding, with, the with the target's own description; forward EV/Sales 5.6x.more ▾less ▴ |
| NWBI | Northwest Bancshares Inc | $1.8B | — | — | Operational comp: Banks (NEC); small-cap ($1.8bn); shares indirect, principal, interest, holding, the with the target's own description; forward EV/Sales 4.9x.more ▾less ▴ |
| EPSN | Epsilon Energy Ltd | $139M | — | — | Operational comp: Oil & Gas Exploration and Production (NEC); micro-cap ($139m); shares interest, oil, gas, wholly, energy, owned with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.more ▾less ▴ |
| DLXY | Delixy Holdings Ltd | $14M | — | — | Operational comp: Petroleum Product Wholesale (Energy group); micro-cap ($14m); shares indirect, oil, wholly, interests, subsidiary, owned with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.more ▾less ▴ |
| NOG | Northern Oil and Gas, Inc. | $2.1B | — | — | Operational comp: Oil & Gas Exploration and Production (NEC); mid-cap ($2.1bn); shares interests, oil, gas, principal, energy, with with the target's own description; forward EV/Sales 3.1x.more ▾less ▴ |
| HOPE | Hope Bancorp Inc | $1.4B | — | — | Operational comp: Corporate Banks; small-cap ($1.4bn); shares interest, principal, owned, wholly, subsidiary, holding with the target's own description; forward EV/Sales 3.5x.more ▾less ▴ |
| MTDR | Matador Resources Company | $5.3B | — | — | Operational comp: Oil & Gas Exploration and Production (NEC); mid-cap ($5.3bn); shares oil, venture, gas, joint, energy, with with the target's own description; forward EV/Sales 2.9x.more ▾less ▴ |
| SD | SandRidge Energy Inc | $525M | — | — | Operational comp: Oil & Gas Exploration and Production (NEC); small-cap ($525m); shares interests, oil, interest, gas, energy, with with the target's own description; forward EV/Sales 2.1x.more ▾less ▴ |
Which companies belong on this list is our judgement, and the sentence beside each one is the whole of our reasoning — disagree with it and the verdict above changes. Rows marked context only are shown because they are informative, but they are deliberately left out of the median. The multiples come from listed-company data; a private target’s deal multiple is not audited the way theirs are.
Common questions
Is KEO Energy going public?
KEO Energy has a signed merger with the SPAC Lionheart Holdings (CUB), announced Jul 20, 2026. Deal status: LOI (under discussion).
Does KEO Energy have revenue?
The filings we've parsed don't state a usable revenue figure yet; this profile is updated as new documents land.
Educational content, not investment advice.
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