Shell, Esso looking to exit Teal, Guillemot

Shell UK and Esso Exploration and Production UK Ltd. are inviting cash offers for various producing interests in the central North Sea, according to asset trading facilitator Indigo Pool.

Offshore staff

HOUSTON -- Shell UK and Esso Exploration and Production UK Ltd. are inviting cash offers for various producing interests in the central North Sea, according to asset trading facilitator Indigo Pool.

The interests are the Guillemot A, Teal, Teal South, and Cook fields, and the Anasuria FPSO. All are located in blocks 21/20A, 21/25 and 21/30. Gas is exported via pipeline to the St Fergus terminal, north of Aberdeen, while oil is evacuated via shuttle tankers.

The full package comprises:
•Guillemot A, Teal and Teal South: 100% interest
•Cook: 38.7% interest
•FPSO: 100% interest
•Operatorship in all fields/FPSO
•Equity production: 11,500b/d, 11MMcf/d
•Remaining recoverable equity volumes: 91 MMboe
•Re-use potential for FPSO.

Indigo Pool, a Houston-based subsidiary of Schlumberger, says the package presents an attractive entry opportunity into the central North Sea; synergies to operators providing core competencies in mature field development; a balance of mature fields with reliable cash flows; and future opportunities with upside potential.

4/19/2010

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