Endeavour Completes Alba Acquisition

Endeavour International Corporation on Thursday announced that it had completed the acquisition of the additional 23.43 percent 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 percent.

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.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Business Development Analyst
Expertise: Business Analyst|Business Development
Location: Chesapeake, VA
 
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
 
Project Engineer/Project Manager
Expertise: Project Management
Location: Baton Rouge, 
 
search for more jobs

Brent Crude Oil : $55.23/BBL 0.46%
Light Crude Oil : $52.75/BBL 0.62%
Natural Gas : $3.24/MMBtu 1.25%
Updated in last 24 hours