ENDEAVOUR INTERNATIONAL CORP: Endeavour Completes Sales and Forms JV
Endeavour Completes Sale and Forms Joint Venture with Samson Exploration, LLC
the Pennsylvania Marcellus
HOUSTON, Nov. 14, 2013 -- 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, Pennsylvania.
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.
SOURCE Endeavour International Corporation
CONTACT: Endeavour - Investor Relations, Darcey Matthews, 713-307-8711
-0- Nov/14/2013 07:00 GMT
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