Hague and London Oil has agreed to acquire various interests in the Dutch and UK North Sea from ONE-Dyas.
(Courtesy Wintershall DEA)
Location of Sillimanite in the UK North Sea.
Offshore staff
THE HAGUE, the Netherlands – Hague and London Oil (HALO) has agreed to acquire various interests in the Dutch and UK North Sea from ONE-Dyas (OND).
These comprise 7.9% of the Sillimanite Development Unit, straddling Dutch and UK waters; 0.85% of the Joint Development Area (JDA); and 2.34% of the Western Gas Transmission (WGT) pipeline system, including the onshore Den Helder gas processing facilities.
HALO would pay OND €8.85 million ($9.68 million) in cash at the closing of the agreement, which remains subject to third-party, regulatory, and government approvals.
If the deal is completed, HALO’s interests in the JDA and WGT will rise to respectively 10.8% and 11.22%, and the company would gain 800-1,000 boe/d of production by 4Q 2020.
The Wintershall DEA-operated Sillimanite Development Unit in UK block 44/19a includes the Sillimanite West discovery.
