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>

<< May 2017 >>
MTWTFSS
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

IADC World Drilling 2017 Conference & Exhibition

This event showcases products like Cutting edge, drilling technology, well control, health, safety, environment, training and environment industry…

read more >

Decom Offshore 2017

Decom Offshore 2017 is expected to bring together a global audience of over 400 key representatives from the late life and decommissioning…

read more >

IMCA ROV SEMINAR

This seminar is designed to assist IMCA members in dealing with these, with a programme of technical and operational topics affecting…

read more >

Offshore Wind Energy 2017

In 2017, EWEA and RenewableUK will join forces to bring you the greatest conference and exhibition Europe has ever known in the history…

read more >