Adams Resources Relinquishes North Sea Block

Adams Resources & Energy and its partners have notified the United Kingdom's Department of Trade and Industry of their intention to relinquish their license for Block 21-1b in the U.K. sector of the North Sea. The license will be allowed to expire at the end of its first term period on September 30, 2005. All costs incurred on this project were expensed as they originated. Therefore, the Company will not incur any additional expense or charges to earnings as a result of this event.

The Company and its partners continue to focus their attention on North Sea Block 48-16c that was awarded in the United Kingdom's 22nd round of licensing held in 2004.

Related Companies
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $51.38/BBL 2.44%
Light Crude Oil : $50.43/BBL 2.26%
Natural Gas : $3.14/MMBtu 0.94%
Updated in last 24 hours