Hansa Hydrocarbons acquires Noble Energy’s interests in the LAPS area of the UK Southern North Sea

abarrelfull wrote on 25 Jun 2014 12:45
Tags:

Latest News

• Want a weekly review of refining news?

• This Week in Refining
• RSS Feed

12 August 2013

Hansa Hydrocarbons Limited (Hansa) is pleased to announce that it has entered into an agreement with Noble Energy Capital Limited, a subsidiary of Noble Energy, Inc. (Noble), under which, subject to certain conditions precedent and third party approvals amongst other things, it will acquire a wholly owned UK subsidiary that will hold its non-operated interests in the UK Malory, Guinevere and Lancelot fields.

The Malory, Guinevere and Lancelot fields are largely located in Blocks 48/12d and 48/17b of the UK Southern North Sea some 60 kilometers north of the Norfolk coastline. Production commenced from Lancelot and Guinevere in 1993 and from Malory in 1998. The fields form part of the Lancelot Area Pipeline System (LAPS) catchment area where production is delivered through a dedicated pipeline and onshore compression facility to the Perenco Bacton gas processing facilities in Norfolk. For 2012, combined production of the three fields was 21 million cubic feet per day gross or 3 million cubic feet per day net to the Noble interests.

Hansa will acquire a 24% interest in Malory, a 25% interest in Guinevere and a 2% interest in the Lancelot field and associated pipeline and compression facilities. The remaining equity is held by Perenco who also acts as operator.

John Martin, Hansa Hydrocarbon’s CEO, said:

“Although a small acquisition for Hansa, it makes a great deal of sense to add these assets to our portfolio as it strengthens our UK core area. Malory is the key asset which continues to outperform expectations and underwrites the longevity of LAPS. Furthermore, through our in-house studies of the neighbouring Juliet and Thoresby field areas, we have developed an excellent understanding of the regional geology which gives us confidence in pursuing subsurface growth opportunities in the area. Entry into the LAPS assets serves as an important platform from which to pursue these opportunities.”

• Hansa Hydrocarbons acquires Noble Energy’s interests in the LAPS area of the UK Southern North Sea

---