Independent Oil & Gas Buys Cronx Discovery

UK North Sea-focused junior producer Independent Oil & Gas reported Wednesday that it has agreed to acquire 100 percent of the UK license block 48/22a from Swift Exploration for $782,000.

Block 48/22a contains a gas discovery that Independent plans to name 'Cronx'. Cronx was discovery in 2007 by Perenco UK and is estimated to hold approximately 17.6 billion cubic feet of gas. Independent said that it anticipates drilling a pilot well on the discovery in November this year.

Cronx is located some eight miles northwest of the Blythe field in which Independent holds a 50-percent stake.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

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

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Instrumentation & Electrical Project Estimator
Expertise: Electrician|Estimating|Project Management
Location: Spring, TX
 
Rockies Regional Instrumentation & Electrical Operations Manager
Expertise: Business Development|Electrician|Operations Management
Location: Durango, CO
 
Solids Control Technician
Expertise: Process Control|Rig Instrument Tech
Location: Dilley, TX
 
search for more jobs

Brent Crude Oil : $53.96/BBL 0.35%
Light Crude Oil : $51.36/BBL 0.21%
Natural Gas : $3.209/MMBtu 0.34%
Updated in last 24 hours