Endeavour International Corporation announced that its Board of Directors has concluded the strategic review process started in February 2013. The Board of Directors has determined that it is the best interests of shareholders to retain and exploit its existing asset base, with the organizational changes and cost savings initiatives discussed below.
"Since the start of the strategic review, Endeavour has achieved several objectives that have improved the long-term value of its business, including completion of Bacchus, progression of Rochelle and continued process improvements at the Alba field. The decision is the right choice for our shareholders and employees," said William L. Transier, chairman, chief executive officer and president. "A relentless and enthusiastic focus on reducing debt, being cost efficient and exploiting the underlying value of assets in our core areas is the best way to create value for our stakeholders."