The Board of Dana is pleased to announce the formal completion of the exchange agreement between Dana Petroleum (E&P) Ltd. and Amerada Hess Ltd., by which Dana has acquired an additional 28% interest in the Hudson oil field in the UK North Sea.
Jaime Kammerzell Gulf of Mexico Editor Offshore
The Board of Dana is pleased to announce the formal completion of the exchange agreement between Dana Petroleum (E&P) Ltd. and Amerada Hess Ltd., by which Dana has acquired an additional 28% interest in the Hudson oil field in the UK North Sea, thus increasing Dana's total stake in Hudson to 47.5%. In exchange, Dana has transferred its wholly owned subsidiary Dana Petroleum (Indonesia) LLC to Amerada Hess Ltd. Dana Petroleum (Indonesia) LLC holds Dana's 12% interest in the Pangkah PSC area offshore Indonesia as its sole asset.
Dana is reported that it has been appointed as operator of the Hudson field, having received all necessary government and partner consents in this regard.
The Hudson field is currently producing approximately 12,000 b/d. Therefore, Dana's net North Sea oil production has increased by approximately 3,400 b/d as a result of the completion of this deal.
