Spring Energy Snags Stake in North Sea Production License

The Oslo-based oil company Spring Energy has reached agreement with Premier Oil Norge AS ("Premier") to acquire a 20% working interest in production license PL 378, located in the Northern North Sea.

As part of the transaction agreement, Spring Energy will carry part of Premier's well cost on the first two wells on the license. The first well will be drilled on the high potential Grosbeak prospect and is scheduled to spud in April this year. Several other high potential prospects and leads have been identified within the PL 378 license.

Following the transaction, Spring Energy will have a 20% working interest in PL 378, together with Revus/Wintershall (operator and 40%), Premier (20%) and Noreco (20%).

The effective date of the transaction is January 1, 2009. The transaction is subject to approval from the Norwegian Authorities.


Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Load Planner/ Dispatcher Frac Sand
Expertise: Dispatcher|Project Management
Location: Mansfield, TX
United States Houston: Marketing Specialist
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
Intelligence & Risk Assessment Analyst
Expertise: Legal|Risk Management
Location: San Ramon, CA
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours