One-Page Deal Sheet
Valiant Petroleum Announces North Sea Farm-Out Agreement with Maersk
Maersk Oil Valiant Petroleum Plc
Announced Date
March 08,2013
Transaction Type
Farm-In/Farm Out
Asset/Basin:
{"North Sea"}
TargetZones:
{}
Transaction Details: Subscribe to see
Valiant Petroleum plc is pleased to announce its wholly owned subsidiary Valiant Causeway Limited has signed a farm-out agreement with Maersk Oil North Sea UK Limited with regard to its Isabella prospect located in the UK Central North Sea Blocks 30/6b, 30/11a & 30/12d (P1820). Under the terms of the agreement, Valiant's well costs will be partially carried by Maersk Oil UK subject to a cap on the promoted costs. Maersk Oil UK will also refund to Valiant certain historic costs associated with the licence at its working interest. Following completion, Valiant's stake will reduce to 20% from…
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