RockRose negotiates further North Sea transactions

RockRose Energy is progressing sale and purchase agreements with Maersk Oil North Sea UK to acquire its interests in the Scott and Telford fields (5.16% and 2.36%) in the UK central North Sea.

Offshore staff

LONDON – RockRose Energy is progressing sale and purchase agreements with Maersk Oil North Sea UK to acquire its interests in the Scott and Telford fields (5.16% and 2.36%) in the UK central North Sea.

However, partners in the Wytch Farm field onshore/offshore southern England have exercised their pre-emption rights on a proposed 7.43% transfer.

RockRose has also signed a conditional sale and purchase agreement to acquire the entire share capital of Egerton Energy Ventures, which has stakes of 27.8% and 8.33% in the Galahad and Mordred gas fields in the southern North Sea.

Both transactions are subject to approval from the Oil & Gas Authority.

Finally, RockRose has signed a non-binding heads of terms to acquire a subsidiary of a trading company which holds minor interests in other gas fields located in the southern North Sea.

On completion of these various deals, the company estimates net current production of around 1,400 boe/d.

03/23/2017

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