Endeavour International sells Norwegian subsidiary
May 14, 2009
Endeavour International Corp. has closed the sale of its Norwegian subsidiary, Endeavour Energy Norge, to VNG-Verbundnetz Gas AG for $150 million.
Offshore staff
HOUSTON -- Endeavour International Corp. has closed the sale of its Norwegian subsidiary, Endeavour Energy Norge, to VNG-Verbundnetz Gas AG for $150 million.
"The proceeds [of the sale] will accelerate the development of our Rochelle, Cygnus, and Columbus fields that will serve as the foundation for our future production growth as well as fund shorter-cycle time and lower cost opportunities in the US that complement our core business in the UK," says William L. Transier, chairman and CEO of Endeavour.
