The Alba oil field located in Block 16/26a, in the Central North Sea is a producing block and the additional acquisition will increase Endeavour’s total working interest in the oil field to 25.68%.
The net proceeds from the 2018 Notes offering have been released from escrow for the acquisition and to repay outstanding amounts under the Senior Term Loan.
US-based Endeavour International Corp is an oil and gas exploration and production company which is focused on the acquiring, exploring and developing energy reserves.
ConocoPhillips is an exploration & production company based in US.
