Endeavour Completes Sale and Forms Joint Venture with Samson Exploration, LLC
in the Pennsylvania Marcellus
HOUSTON, Nov. 13, 2013
HOUSTON, Nov. 13, 2013 /PRNewswire/ -- Endeavour International Corporation
(NYSE: END) (LSE: ENDV) ("Endeavour" or the "Company") today announced that it
has closed on the sale of 50% of its upstream and midstream assets in the
Pennsylvania Marcellus and formed a joint venture with Samson Exploration,
Samson Exploration, LLC is a wholly-owned subsidiary of privately-held Samson
Energy Company, LLC with its headquarters located in Tulsa, Oklahoma. The
agreement provides for the development of the Marcellus assets, with a "cash
and carry" component. The joint venture delivers the capital necessary for the
next phase of development in the core Daniel Field area in Cameron County,
Initially, the partnership plans to complete three previously drilled and
cased horizontal Marcellus wells. These wells will be tied into a new
third-party pipeline being constructed by EQT Corporation that allows firm
capacity of up to 10 MMCF/D, with potential for future expansion. Endeavour
will operate this initial phase of activity, which is expected to be completed
by midyear 2014.
Endeavour International Corporation is an international oil and gas
exploration and production company focused on the acquisition, exploration and
development of energy reserves in the North Sea and United States. For more
information, visit www.endeavourcorp.com .
Contact: Endeavour - Investor Relations, Darcey Matthews, +1-713-307-8711
Press spacebar to pause and continue. Press esc to stop.