By OGJ editors
HOUSTON, May 30 -- Endeavour International Corp., Houston, plans to buy a package of UK North Sea oil and gas assets from Calgary independent Talisman Energy Inc. for $414 million.
Closing is expected during the fourth quarter, subject to government and third-party approvals. The sale involves the divestiture of Talisman Expro Ltd., which holds interests in several fields acquired in Talisman's acquisition of UK producer Paladin Resources PLC (OGJ, Nov. 21, 2005, p. 35).
The assets produced 9,200 boe/d and had proved reserves of 12.8 million boe on Dec. 31, 2005. Producing fields and interests are Goldeneye 7.5%; Bittern 2.42%; Alba 2.25%; Caledonia 2.83%; Rob Roy, Ivanhoe, and Hamish 23.455%; Renee 77.5%; and Rubie 40.78%.
Nonproducing assets include a 55.62% interest in the Rochelle discovery near Renee and Rubie fields.