One-Page Deal Sheet
Cairn Energy Announces Ireland Farm-In Agreement
Not Disclosed Cairn Energy Plc
Announced Date
May 07,2013
Close Date
July 09,2013
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
4
Asset/Basin:
{"Porcupine Basin"}
Location
Country
Ireland
Transaction Details: Subscribe to see
Cairn Energy PLC (Cairn) is pleased to announce a farm-in as Operator to two licences offshore West of Ireland in the Porcupine Basin, which contains the undeveloped Spanish Point gas condensate and Burren oil discoveries, and six adjacent licensing option blocks. The acreage covers an area of 2,753km2 with more than 500km2 of 3D seismic and will provide locations for Cairn’s frontier drilling programme.
The two licences – FEL 2/04 (which includes the Spanish Point and Burren discoveries) and FEL 4/08, together cover an area of 1,242km2 – are currently operated by Chrysaor (60% Working…
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