Scandoil  

Northcote Energy to acquire 35% interest in Shoats Creek oil field, Louisiana


Published May 12, 2014
Northcote Energy

Northcote has entered into a heads of terms agreement to acquire a 35% interest in and become operator of the producing wells at the 1,670 gross acre Shoats Creek Oil Field in Beauregard Parish, Louisiana.

Shoats Creek represents a low cost acquisition opportunity to bolster both existing and long term production and reserves and the deal has been structured to allow the Company to continue to focus on its operational and financial resources through its 2014 work programme across its Oklahoma properties.

Northcote will initially acquire a 70% interest in the Shoats Creek Field from Springer Oil & Gas, LLC (Springer) and will simultaneously farm-down 50.0% of this interest (35%) to North American Petroleum plc ('NAP') on the same terms

Tags: Northcote Energy




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml