United to buy Rockhopper’s Egypt unit
United Oil & Gas has entered an agreement to buy Rockhopper Egypt from Rockhopper Exploration for total consideration of $16 million. Both companies are in London.
The main asset of Rockhopper Egypt is a 22% working interest in the Abu Sennan concession operated by Kuwait Energy in Egypt’s Western Desert. Production net to that interest last year was 813 boe/d.