UK oil firm Endeavour Energy has reportedly initiated the sale of its North Sea oil and gas assets.
According to Reuters which cited sources close to the matter, Endeavour is hoping to get $500 million from the deal, a price target described as “ambitious.”
Endeavour was created in 2004 to find and to develop oil and gas reserves in the U.K. North Sea.
The company’s website show Endeavour as owning interests in five producing oil and gas fields in the UK North Sea – Alba, Bacchus, Rochelle, Bittern, and Enoch.
Reuters sources feel the expected price is ambitious as some of the assets are no longer in production. The news agency on Thursday said the information documents were sent to potential – unidentified – bidders late in February.
Below is the breakdown of Endeavour’s UK North Sea interests, as found on the company’s website.
Offshore Energy Today Staff