Endeavour International Corporation has closed on the sale of its Cygnus asset to Bayerngas UK Ltd., the UK oil and gas subsidiary of Bayerngas Norge AS, for a cash consideration of $110 million.

Cygnus field key facts • The Cygnus field is located within UK Continental Shelf (UKCS) Blocks 44/12a and 44/11a in the UK southern North Sea, 15 km north west of the Tyne field. Cygnus is a large multi fault block accumulation discovered in 1988 by the 44/12a-1 exploration well, which found gas bearing Leman reservoir in what is now known as Fault Block 1.

• GDF SUEZ E&P UK Ltd is operator of Cygnus Field (Licence P1055) with a 38.75% interest while Centrica holds a 48.75% interest.

Tags: Endeavour International Corporation