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Independent Oil and Gas Completes Skipper Acquisition

Source: www.gulfoilandgas.com 12/22/2015, Location: Europe

Independent Oil and Gas plc (IOG), the North Sea focused oil and gas company, is pleased to confirm the acquisition of 50% of licence P1609 which contains the Skipper discovery has now completed. IOG now owns 100% of the licence and is the licence operator.

As previously announced a consideration of $3m will be payable at Field Development Plan approval stage and a further $15m will be payable shortly after first oil.

Mark Routh, CEO of IOG commented: "We are delighted to have completed this material acquisition. We anticipate the commencement of drilling at the end of January or early February 2016 and look forward to making further announcements in due course."

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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  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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