EnCore Snags Operatorship and Interest in UKCS Block


North Sea Fields
(Click to Enlarge)

EnCore Oil inked a deal with Century Exploration Ltd., bumping up its interest in the United Kingdom Continental Shelf Block 9/27a from 10% to 87.5%. The agreement also hands operatorship to EnCore. The other participant in the block is Granby Oil & Gas plc.

"EnCore's regional work in this area suggested that there may be overlooked potential in the block," EnCore's CEO Alan Booth said. "It is particularly pleasing to see the recent success announced by Fairfield Energy in adjacent block 9/28. We believe that any redevelopment of the Crawford field will significantly reduce the threshold for commercial developments in block 9.27a."

The agreement is subject to customary regulatory approvals, and EnCore's interest in the block is subject to a revised overriding royalty of 1.2% of its share of revenues. (The royalty interest had previously been 2.75%.)


We want to hear from you. Questions, opinions and suggestions are all welcomed by the Rigzone Staff. Write us at news@rigzone.com .

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Project Manager, USA
Expertise: Project Management
Location: United States
 
Financial Analyst - Finance and Investor Relations
Expertise: Accounting|Financial Analyst|Legal
Location: Dallas, TX
 
Executive Protection Coordinator
Expertise: Risk Management|Security
Location: TX
 
search for more jobs

Brent Crude Oil : $50.8/BBL 0.47%
Light Crude Oil : $47.97/BBL 0.56%
Natural Gas : $3.08/MMBtu 0.98%
Updated in last 24 hours