Endeavour Announces the Completion of the Additional Working Interest in the Alba Field
May 31 2012 - 1:44PM
PR Newswire (US)
HOUSTON, May 31, 2012 /PRNewswire/
-- Endeavour International Corporation (NYSE: END)
(LSE: ENDV) today announced that it had completed the acquisition
of the additional 23.43% working interest in the Alba field from
ConocoPhillips.
The Alba oil field, located in Block 16/26a, in the Central
North Sea is a late Eocene reservoir that has been producing since
1994. Endeavour's newly acquired working interest combined with its
previous ownership position takes the company's total working
interest in the field to 25.68%.
As a result of the completion of the additional working interest
in the Alba field, the net proceeds from the 2018 Notes offering
have been released from escrow. The proceeds have been used to fund
the acquisition and to repay outstanding amounts under the Senior
Term Loan.
Endeavour International Corporation is an international oil
and gas exploration and production company focused on the
acquisition, exploration and development of energy reserves in the
North Sea and United States. For more information, visit
www.endeavourcorp.com.
Copyright 2012 PR Newswire
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