Lundin Petroleum Sells Brynhild Field Stake to CapeOmega

Source: www.gulfoilandgas.com 6/28/2017, Location: Europe

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly-owned subsidiary Lundin Norway AS (Lundin Norway) on 27 June 2017 entered into a sales and purchase agreement with CapeOmega AS (CapeOmega) to divest a 39 percent working interest in the Brynhild field in PL148 in the Norwegian North Sea.

Lundin Norway will retain operatorship and following the transaction will have a 51 percent working interest in the Brynhild field, a subsea tie-back oil field to the Shell operated Pierce field on the UK Continental Shelf.

Existing partner CapeOmega will increase its working interest in the Brynhild field from 10 to 49 percent.

The transaction involves a consideration of NOK 774 million, including historic tax and uplift balances and the effective date of the transaction is 1 January 2017. The transaction is subject to customary Norwegian government, as well as Lundin Petroleum lender, approvals.


Ivory Coast (Cote D'Ivoire) >>  2/27/2024 - The Board of Directors of VAALCO Energy, Inc. notes the recent media speculation in Africa Intelligence and confirms that the Company is in discussion...
United Kingdom >>  2/27/2024 - Orcadian Energy (AIM: ORCA), the North Sea focused oil and gas development company, is pleased to announce its unaudited results for the six months en...

United States >>  2/27/2024 - RB Global, Inc. (NYSE: RBA) (TSX: RBA), the trusted global marketplace for insights, services and transaction solutions for commercial assets and vehi...
Canada >>  2/26/2024 - Denison Mines Corp. ("Denison") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has completed an acquisition of fixed and mobile MaxPER...

United Kingdom >>  2/26/2024 - Further to the RNS issued on 23 November 2023, Serica Energy plc (AIM: SQZ) announces the completion of the acquisition by its wholly owned subsidiary...
United Kingdom >>  2/26/2024 - Jersey Oil & Gas plc (AIM: JOG), an independent upstream oil and gas company ?focused on the UK Continental Shelf region of the North Sea, is pleased ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.