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>

<< Sep 2016 >>
MTWTFSS
29 30 31 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 1 2

Asia-Pacific Deep Sea Mining Summit 2015

The Asia-Pacific Deep Sea Mining Summit 2015 is the only event of its kind to deliver leading market intelligence and industry presentations…

read more >

Petrotech 2016

The conference content is managed by a committee of industry experts representing NOCs, IOCs, service providers and academia active…

read more >

Subsea 102 / Introduction to BOP MUX Control Systems

A three-day IADC-accredited course that provides a solid comparison and contrast overview of systems, tracking the electrical-hydraulic…

read more >

WindEnergy Hamburg 2016

The international trade fair, WindEnergy Hamburg, will provide a comprehensive overview of the current status and future prospects …

read more >