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.

United Oil & Gas PLC has entered an agreement to buy Rockhopper Egypt Pty. Ltd. from Rockhopper Exploration PLC 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.

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