Endeavour strengthens stake in Bacchus

Endeavour Energy UK has been cleared to acquire a further 20% interest in the Bacchus field in the UK North Sea from Shell U.K.

Offshore staff

HOUSTON -- Endeavour Energy UK has been cleared to acquire a further 20% interest in the Bacchus field in the UK North Sea from Shell U.K.

The transaction lifts the company’s stake to 30%. Operator Apache Corp’s field development plan was approved last June, and first oil is due in mid-2011.

Endeavour says the project remains on schedule. A pipeline riser has been installed on the Forties Alpha platform and Subsea 7 has completed construction of the 6.5-km (4-mi) subsea pipeline bundle.

The bundle and its end manifolds are set for launch from Wick in northern Scotland early in March.

02/24/2011

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