Parkmead completes acquisition of North Sea licence from Verus Petroleum

Independent E&P company Parkmead has completed the acquisition of a 50% interest in Licence P.2209 in the UK North Sea from Verus Petroleum.
By Staff reporter 10 August 2017 0 27134

Independent E&P company Parkmead has completed the acquisition of a 50% interest in Licence P.2209 in the UK North Sea from Verus Petroleum, giving it full ownership of the concession, the company said in a note on Wednesday.

The licence contains the Farne Extension prospect and a further four prospective leads, as well as two adjacent blocks, Block 42/19 and Block 42/20b. It is expected to hold almost 5 billion cubic metres of gas.

“Our technical and commercial teams at Parkmead are working hard to evaluate and...

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Sign in

Not a subscriber?

To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.

Sign up