Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/cairn-energy-completes-catcher-development-farm-ou.shtmlCairn Energy completes Catcher development farm out
Cairn has completed farm out agreement to Dyas UK Limited for the sale of a 10% interest in the Catcher development and
[an error occurred while processing this directive]
Edit page New page Hide edit links
Cairn has completed farm out agreement to Dyas UK Limited for the sale of a 10% interest in the Catcher development and adjacent acreage in the UK North Sea for a carry of Cairn's exploration and development costs up to a cap of US$182 million (m) effective 1 January 2014. The Catcher development is on track for first oil from 2017.
As a result of the transaction, Cairn has reduced its forward capital expenditure to the end of 2017 by ~US$380m. Cairn retains a 20% working interest in the Catcher licence.
