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Oil and gas company Hague and London Oil (HALO) has made a deal to acquire several assets in the Dutch & UK sectors of the North Sea from ONE-Dyas (OND).JDA and Sillimanite assets map; Source: ONE-DyasAccording to HALO’s statement on Wednesday, these interests consist of 7.9% of the Sillimanite Development Unit, straddling the Dutch & UK median line in the North Sea; 0.85% of the Joint Development Area (JDA); 2.34% of the Western Gas Transmission (WGT) pipeline system, including the onshore Den Helder gas processing facilities; and, 4.167% net profit interests (NPl) on blocks in and adjacent to the JDA, from OND.HALO said it would pay a purchase price to OND of €8.85 million ($9.7M) paid in cash at the closing of the sales purchase agreement (SPA), subject to working capital adjustments between the effective date and closing of the SPA.The company said that the completion amount would be funded through existing cash resources of the company, structured finance associated with the existing and expanded portfolio or secured lending against hydrocarbon gas volumes within HALO’s portfolio.The proposed acquisition will be subject to all requisite third party, regulatory and government (eg. Netherlands & UK) approvals or waivers.The effective date of the proposed transaction will be January 1, 2019, with the completion amount paid at the time of closing. The proposed acquisition will increase HALO’s interests in the JDA and WGT to 10.80% and 11.22% respectively and a new entry with 7.9% of the Sillimanite Development Unit comprised of 11.73% Block 44/19a (UK (includes the Sillimanite West Discovery)) and 7.037% Block D12b (Netherlands).Additionally, the proposed acquisition removes a financial burden on the company’s existing JDA stake plus adding NPI on other participants in: K8, L13 and Partial Block L12. Once completed, the proposed transaction would immediately add ca. 2 mmboe of reserves and an estimated 800-1,000 boepd of production by 4Q 20.Andrew Cochran, Chairman & Interim CEO, commented: “This proposed acquisition represents a unique opportunity to add to the existing portfolio as well as expanding it within HALO’s established ‘core’ areas, including transportation & infrastructure. Sillimanite is already under development and would add materially to the company’s production profile next year as well as adding reserves immediately upon a successful closing; also, the proposed acquisition would establish HALO’s first production in the UK ahead of the Greater Pegasus Area development project.”Previously, HALO bought Tullow Oil’s gas producing assets in the Dutch North Sea through an acquisition which was completed in November 2017. The acquisition comprised interests in 12 licenses on the Dutch Continental Shelf (DCS) in the Northern Area and a suite of interests in the Joint Development Area in the western part of the DCS. The acreage spreads over 2,878 sq km which generated total net production of 2,900 boepd in 2016.In September 2018, HALO entered into an agreement for the conditional acquisition of the entire share capital of Third Energy Offshore whose portfolio includes interests in the Greater Pegasus Area (45%), and the high impact Andromeda prospect in the Southern North Sea.Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.
Schoodic Grange hosting sale – October 30, 2014 Latest posts by Fenceviewer Staff (see all) Six Maine Maritime Academy athletes were named to the North Atlantic Conference All-academic Team for the winter and spring seasons.Winter season honors went to senior basketball players Ben Russell of Farmington, Kari Jones of Nobleboro, Courtney Dufour of Augusta and Leah Jackson of Dedham.Spring season honors went to senior softball player Ashley Burnett of Danville, N.H., and junior lacrosse player Gavin Cote of Arundel.To be honored, student athletes must have reach junior academic standing, have completed at least two years of varsity competition and maintain a cumulative grade point average of at least 3.5.Find in-depth coverage of local news in The Ellsworth American. Subscribe digitally or in print.This is placeholder textThis is placeholder text Fitness trainer is now cancer-exercise expert – October 12, 2014 Bio Fenceviewer Staff Town report wins award – October 11, 2014 Latest Posts
Dubai, United Arab Emirates | AFP | Rory McIlroy dropped a bombshell Tuesday by hinting he could give up his European Tour membership in an effort to get back to the top of the world rankings next year.The world number seven plans to concentrate on playing in the United States, especially with the changes that have been made to the 2019 world golf schedule.Four-time major winner McIlroy is a three-time champion of the Tour’s Race to Dubai and has been a part of every European Ryder Cup team since 2010.Next year, the WGC-Mexico Championship will be played in February, the Players Championship has been advanced to March, the Masters in April, the PGA Championship has been moved to May and the US Open is in June.Which means there will be one big tournament every month across the Pacific until the British Open in July.“I am starting my year off in the States (at the Tournament of Champions) and that will be the big focus of mine up until the end of August and then we will assess it from there,” said the former world No1.“I think it is the result of the changes,” he explained ahead of the Tour’s season-ending DP World Tour Championship.“I don’t have to commit to anything until May, so I will not have played a European Tour event… I will play the WGCs and majors and events like that, but the true European Tour season does not start until July. “The way the schedule has worked for next year, it is going to be different for a lot of guys.“Everything is going to be so condensed between March and August, and that is why I am taking a big off-season to get myself ready, and then go at it hard from March all the way through to basically the end of the season.”The former world No1 has won the Arnold Palmer Invitational this year – his only title in the last two years – and he is eager to get back to the top echelon of the sport.“I’d maybe give it like a B-minus, and a win this week would get it up to a B,” said McIlroy about his season.“I don’t want to continue to dwell on the negatives. There’s been a lot of positives in there, as well. I’ve played very consistently. I’ve had 10 top-10s. I finished second and had a great chance to win The Open.“Obviously the game’s right there. It’s just a matter of doing it when I need to do it most.”He added: “Right now that is all sort of up in the air, but if it were to be that I don’t fulfil my membership next year, it’s not a Ryder Cup year so it’s not the end of the world.”McIlroy is ranked sixth in the Race to Dubai this week, which means even if he wins the tournament, he won’t be able to surmount front-runners Francesco Molinari and Tommy Fleetwood and secure a fourth European No1 crown.Share on: WhatsApp
ARCADIA, Calif. (Jan. 26, 2017)–Third while between horses turning for home, gutty Time for Ebby kept to her task and prevailed by a neck under Kent Desormeaux in Thursday’s $56,000 allowance feature at Santa Anita. Trained by Gary Sherlock, she registered her second consecutive win in combination with Desormeax and got six furlongs over a fast main track in 1:10.48.The 9-5 favorite in a field of seven older fillies and mares bred or sired in California, Time for Ebby paid $5.60, $3.40 and $2.60. A 4-year-old filly by Time to Get Even out of the Touch Gold mare Ebbets Field, she was bred by Terry Lovingier and is owned by Lovingier, Beckerle and Causky.Time for Ebby now has three wins from eight starts and with the winner’s share of $33,600, she increased her earnings to $81,925.“She ran hard today,” said Desormeaux. “Gary thought she might be a little short (training-wise), but she just tries so hard. She wasn’t able to quicken with that other filly (eventual fourth place finisher Ready to Hula Lula) turning for home, but she just kept grinding and that’s what won it.”Ridden by Joe Talamo, Zuzu’s Petals broke a tad slow from post position two, but flew late to be second, finishing a half length in front of Top Notch. Off at 4-1, “Zuzu” paid $4.80 and $3.40.Top Notch, who was just to the outside of the winner around the far turn and through the lane, proved third best under Stewart Elliott. Off at 15-1, she finished three quarters of a length in front of a tiring Ready to Hula Lula and paid $4.60 to show.First post time for an eight race card on Friday at Santa Anita is at 1 p.m. Admission gates open at 11 a.m.