BG Acquires Repsol's Newfoundland Interests

BG Group announced Monday that it has acquired three non-operated positions offshore Newfoundland, Canada, from Repsol.

BG now holds a 25 percent interest in Block EL1123, and a ten percent interest in Blocks EL1125 and EL1126. All three blocks are operated by Statoil and located in the Atlantic Ocean, approximately 120 miles from St. John’s, Newfoundland. The value of the transaction was not disclosed.

Commenting on the latest acquisition, a statement on BG’s website said:

“This provides the company with access to early stage exploration in a proven prospective basin ahead of the first well being drilled later this year.”



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