Spring arrives at Barents Sea license

Spring Energy is set to acquire Marathon Petroleum Norge’s 17.5 % interest in production license 438 in the Barents Sea.

Offshore staff

OSLO, Norway -- Spring Energy is set to acquire Marathon Petroleum Norge’s 17.5 % interest in production license 438 in the Barents Sea.

An exploration well targeting the Skalle prospect should be drilled this summer.

Lundin Petroleum operates PL 438, in partnership with RWE Dea, Talisman, and Petoro. Assuming regulatory approval for the transaction, Spring will have interests in 25 licenses on the Norwegian shelf.

02/25/2011

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