HOUSTON, Nov. 13, 2013 /PRNewswire/ -- Endeavour
International Corporation (NYSE: END) (LSE: ENDV) ("Endeavour" or
the "Company") today announced that it has closed on the sale of
50% of its upstream and midstream assets in the Pennsylvania
Marcellus and formed a joint venture with Samson Exploration,
LLC.
Samson Exploration, LLC is a wholly-owned subsidiary of
privately-held Samson Energy Company, LLC with its headquarters
located in Tulsa, Oklahoma. The
agreement provides for the development of the Marcellus assets,
with a "cash and carry" component. The joint venture delivers the
capital necessary for the next phase of development in the core
Daniel Field area in Cameron
County, Pennsylvania.
Initially, the partnership plans to complete three previously
drilled and cased horizontal Marcellus wells. These wells will be
tied into a new third-party pipeline being constructed by EQT
Corporation that allows firm capacity of up to 10 MMCF/D, with
potential for future expansion. Endeavour will operate this initial
phase of activity, which is expected to be completed by midyear
2014.
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.