Valiant Farms out Isabella Prospect to Maersk
North Sea-focused Valiant Petroleum announced Friday that it has signed a farm-out deal with Maersk Oil North Sea UK that will see Valiant’s stake in the Isabella prospect reduce from 50 percent to 20 percent.
The Isabella prospect, which sits in the UK zone of the central North Sea in blocks 30/6b, 30/11a and 30/12d on production license 1820, is a gas condensate prospect. According to Valiant, the prospect is located on one of the largest undrilled fault blocks in the area and has prospectivity across a number of geological horizons.
Following the completion of the transaction the P1820 partners will be operator Apache North Sea (with a 50-percent stake), Valiant and Maersk Oil North Sea, which will have a 30-percent stake.
WHAT DO YOU THINK?
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.
Operates 4 Offshore Rigs
- Apache Raises North America Output Forecast, Swings To Profit (May 04)
- Oil Producer Apache Posts Smaller-Than-Expected Loss (Nov 03)
- Trade Group Oil & Gas UK Makes 4 Board Appointments (Oct 04)
Company: Maersk Oil & Gas more info
- Maersk Oil CEO To Step Down After Total Takeover (Sep 27)
- Maersk Stands to Get Another $7.5 Billion for Energy Divestments (Aug 21)
- Fars News Agency: Maersk Sees Up To 140,000 Bpd Potential For Iran Field (Aug 01)
Company: Valiant Petroleum more info
- Valiant Farms out Handcross Prospect (Mar 28)
- Valiant Farms out Isabella Prospect to Maersk (Mar 08)
- Ithaca Makes Takeover Offer for Valiant Petroleum (Mar 01)