By OGJ editors
HOUSTON, Jan. 31 -- Veritas Geophysical Ltd., Houston, has farmed out its Central North Sea Block 16/21d to Kerr-McGee Corp.
Veritas Geophysical's parent, Veritas DGC Inc., acquired the block under a promote license in the UK's 21st licensing round.
Upon governmental and regulatory approvals, Kerr-McGee, through a fully cash deal, will gain a 100% stake in the block.
Block 16/21d, adjacent to Balmoral oil field and near to the recent Brenda oil discovery, contains the abandoned Bladon oil field. Veritas has identified prospects on the block using long-offset 3D seismic data.
Veritas will retain 100% interests in the other 11 central UK North Sea promote licenses it acquired in the 21st and 22nd rounds.