14 Nov 2013 07:00
ENDEAVOUR INTERNATIONAL CORP - Endeavour Completes Sales and Forms JVENDEAVOUR INTERNATIONAL CORP - Endeavour Completes Sales and Forms JV
PR Newswire
London, November 13
Endeavour Completes Sale and Forms Joint Venture with Samson Exploration, LLC in the Pennsylvania Marcellus HOUSTON, Nov. 14, 2013 -- Endeavour International Corporation (NYSE: END) (LSE: ENDV) ("Endeavour" orthe "Company") today announced that it has closed on the sale of 50% of its upstream and midstream assets inthe Pennsylvania Marcellus and formed a joint venture with Samson Exploration, LLC. Samson Exploration, LLC is a wholly-owned subsidiary of privately-held Samson Energy Company, LLC with itsheadquarters 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 ofdevelopment in the core Daniel Field area in Cameron County, Pennsylvania. Initially, the partnership plans to complete three previously drilled and cased horizontal Marcellus wells. Thesewells will be tied into a new third-party pipeline being constructed by EQT Corporation that allows firm capacity ofup to 10 MMCF/D, with potential for future expansion. Endeavour will operate this initial phase of activity, which isexpected to be completed by midyear 2014. Endeavour International Corporation is an international oil and gas exploration and production company focusedon the acquisition, exploration and development of energy reserves in the North Sea and United States. For moreinformation, visit www.endeavourcorp.com. SOURCE Endeavour International Corporation
CONTACT: Endeavour - Investor Relations, Darcey Matthews, 713-307-8711