Spike makes offer for Bridge Energy

Spike Exploration Holding has offered to acquire Oslo-based North Sea E&P independent Bridge Energy for $164 million.

Offshore staff

ASKER, Norway – Spike Exploration Holding has offered to acquire Oslo-based North Sea E&P independent Bridge Energy for $164 million.

Bridge was established in 2010, and has E&P interests offshore Norway and the UK. It currently has four producing assets delivering around 1,100 boe/d, with output from its portfolio expect to top 10,000 boe/d within five years.

Last year the company participated in four exploration wells, with three commercial oil discoveries, which added 22 MMboe 2C contingent resources, increasing its overall resource base by around 140%.

9/16/2013

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