Gulf Oil and Gas accountACCOUNT

Verus Petroleum Acquires Additional Interest in Boa Oil Field

Source: www.gulfoilandgas.com 10/20/2016, Location: Europe

Verus Petroleum is pleased to announce the signing of a sale and purchase agreement with Maersk Oil North Sea UK Limited for the acquisition of Maersk Oilís 9.8% interest in the Boa oil field. This acquisition will increase Verusís interest in the Boa field to 11.35% and adds approximately 1,800 boepd to Verusís daily production. The Boa field is a median line field and with this transaction Verus will hold 100% of the UK portion. The Boa field is developed with 4 subsea wells tied back to the Alvheim FPSO which is located on the Norwegian side of the median line.

Commenting on the deal, Verusís CEO Alan Curran said:

ďThis acquisition is consistent with the Verus strategy of expanding our production base and cash flow. After two years of working through the industry downturn this milestone acquisition trebles the companyís production and sets us up for further deals over the coming months.Ē

Verus is focused on the creation of value through the acquisition of high quality production assets and, over time, through increased exposure to development projects.

Acquisitions and Divestitures News in United Kingdom >>

Argentina >>  11/13/2019 - Echo Energy, the Latin American-focused upstream oil and gas company, is pleased to announce that the acquisition by the Company of a 70 per cent. ini...
Norway >>  11/13/2019 - OKEA ASA (the Company) announces that the sale of 20% of the Company's participating interest in Grevling (PL 038D) and 18.57% of the Companyís partic...

Trinidad and Tobago >>  11/12/2019 - Columbus is pleased to announce the extension of the Inniss Trinity Incremental Production Service Contract (Inniss Trinity IPSC) to allow for the imp...
Somalia >>  11/11/2019 - Genel Energy plc has increased its stake in the SL10B13 block, onshore Somaliland, to 100%, having acquired East Africa Resource Group's 25% stake. ...

Nigeria >>  11/8/2019 - Savannah Petroleum PLC, the British independent oil & gas company focused around activities in Niger and Nigeria, is pleased to provide an update in r...
United States >>  11/7/2019 - Diversified Gas & Oil PLC (DGOC) is pleased to announce the sale of its non-producing assets recently acquired in Monroe County, Ohio for total cash c...

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 


United Kingdom Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.