Press

RockRose Energy - Acquisition of 20.43% Interest in Arran Field, UK North Sea

Posted by OilVoice Press - OilVoice

09-Aug-2018


RockRose Energy, the independent oil and gas company, is pleased to announce that it has signed a Sale and Purchase Agreement to acquire a 20.43% interest in blocks, 23/11a, 23/16b and 23/16c, which contain the Arran field in the UK Central North Sea, from Dana Petroleum (E&P) Ltd (the "Acquisition") for a nominal consideration. RockRose will fund its share of the planned development of the Arran field through the Group's existing cashflow.

The Acquisition adds a further 5.7 mmboe 2P Reserves to RockRose and 3,500 boepd of initial production to the Group post development. RockRose will be partnered in the field by Shell UK, Zennor North Sea Ltd and Dyas UK. The acquisition does not involve Operatorship of the development.

It is anticipated that the field will be developed as a subsea tie-back to the Shell operated Shearwater platform.

It is anticipated that the Field Development Plan (FDP) will be filed with the OGA by end of September 2018.

Completion of the transaction is subject to OGA and other usual partner consents however the company are not aware of any reasons for this to be withheld.

Andrew Austin, Executive Chairman of RockRose said:

“This is an exciting addition to RockRose's portfolio providing a near-term development opportunity which adds significantly to the Group's reserves and future production.

This once again demonstrates the Group's ability to quickly access, progress and execute transactions providing an invaluable first mover advantage when seeking highly value accretive transactions.”

RockRose EnergyAcquisitionUnited KingdomUKNorth SeaUK North SeaArran Fielde&pDana Petroleum

More items from oilvoice


Petrofac Appoints Chief Digital Officer

Petrofac has appointed Fady Sleiman Chief Digital Officer as the oilfield services company continues its digital transformation. Fady joins from MENA investment company Waha Capital, where he was Chief Information Officer/Group Head of IT for the Abu Dhabi based company from 2014. Prior to that ...

OilVoice Press - OilVoice


Posted 8 hours agoPress > PetrofacAppointmentChief Digital Officer

Churchill Drilling Tools: North Sea Operator Cuts Rig Time Using Churchill Circulation Tool For Hole Cleaning and BOP Jetting

Operator saves more than six hours rig time and eliminates an extra trip in hole using dart activated DAV MX™ Circulation Sub Operator benefits from DAV MX™'s resilience and versatility through hole cleaning and BOP jetting on recent exploration well Churchill's technology to be showcased a ...

OilVoice Press - OilVoice


Posted 9 hours agoPress > North SeaChurchill DrillingDrilling +1

NPD: Delineation of the 15/3-4 (Sigrun) Oil and Gas Discovery Near the Gudrun Field in the North Sea – 15/3-11

Equinor Energy AS, operator of production licence 025, has concluded the drilling of appraisal well 15/3-11 on the 15/3-4 (Sigrun) oil and gas discovery. The well was drilled about 10 km southeast of the Gudrun field in the North Sea, and about 225 km west of Stavanger. The objective of the well ...

OilVoice Press - OilVoice


Posted 9 hours agoPress > NPDNorwayNorwegian Petroleum Directorate +11

NPD: Production Figures July 2018

Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June. Total gas sales were 10.8 billion Sm 3 (GSm 3 ), which is an increase of 1.5 GSM 3 from the previous mo ...

OilVoice Press - OilVoice


Posted 9 hours agoPress > NorwayNPDNorwegian Petroleum Directorate +6

Range Resources: Trinidad Operations Update

Range, an international oil and gas company with assets in Trinidad and Indonesia, and an oilfield services business in Trinidad, is pleased to provide an update with respect of its Trinidad operations. Infrastructure upgrade programme Range is pleased to advise that it has commenced the sale ...

OilVoice Press - OilVoice


Posted 10 hours agoPress > Range ResourcesTrinidadOperations Update +3
All posts from oilvoice