UK: Endeavour Acquires Additional Interest in ConocoPhillips’ Alba Field

UK: Endeavour Acquires Additional Interest in ConocoPhillips' Alba Field

Endeavour International Corporation announced yesterday that it had completed the acquisition of the additional 23.43% working interest in the Alba field from ConocoPhillips.

The Alba oil field, located in Block 16/26a, in the Central North Sea is a late Eocene reservoir that has been producing since 1994. Endeavour’s newly acquired working interest combined with its previous ownership position takes the company’s total working interest in the field to 25.68%.

As a result of the completion of the additional working interest in the Alba field, the net proceeds from the 2018 Notes offering have been released from escrow. The proceeds have been used to fund the acquisition and to repay outstanding amounts under the Senior Term Loan.

Endeavour International Corporation is an international oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea and United States.

Subsea World News Staff, June 01, 2012; Image: Endeavour

Share this article

Follow Subsea World News

Events>

<< Mar 2015 >>
MTWTFSS
23 24 25 26 27 28 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Ocean Business 2015

Ocean Business offers the visitor more than just an international exhibition. The show has an outstanding reputation for its training and…

read more >

Transnational Oil, Gas and Energy Law

Study a Unique Online Learning Programme that is Highly Relevant to Today’s International Market…

read more >

Practical AVO and Seismic Inversion with Petrel

A profitable development of an oil or gas field starts with a good understanding of the subsurface as a basis for efficient and successful…

read more >

Deepwater East & Southern Africa 2015

This event is a two-day conference & exhibition with extensive presentations on all aspects of the East & Southern Africa offshore sector…

read more >