Endeavour Finalizes Interest Acquisition in Bacchus Field

Endeavour Energy has received the necessary approvals to finalize the acquisition of an additional 20% working interest in the Bacchus field in the North Sea from Shell UK Limted. Endeavour will now hold a total working interest of 30% in the project.

The field development plan, calling for three wells tied-back to the Forties Alpha platform, was approved in June 2010 and first oil is expected in mid-2011. As for field development, the pipeline riser was installed on the Forties Alpha platform and the 4 miles (6.5 kilometer) subsea bundled pipeline construction was completed. The pipeline is scheduled to leave Scotland in early March. Apache owns a 70% working interest in Bacchus; and Endeavour owns the remaining interest.

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