Cairn Energy plc has received shareholder approval for the US$460 million sale of its Catcher and Kraken interests in the North Sea. On 28 October, the company’s shareholders voted on the proposal at a general meeting where the resolution was passed by the requisite majority. The sale involves Cairn’s entire 20% interest in Catcher and […]
Tag: Cairn Energy plc
Cairn completes acquisition of Egyptian assets
Cairn Energy plc has completed its acquisition of a portfolio of upstream oil and gas production, development and exploration interests in the Western Desert, onshore Egypt. VALUE The company and its consortium partner Cheiron Petroleum Corporation completed the purchase from Shell Egypt NV and Shell Austria GmbH (Shell). Cairn’s subsidiary, Capricorn Egypt, acquired 50% of […]
Deltic agrees farm-out with Cairn for five SNS licences
Deltic Energy plc announced it had entered into a binding, conditional farm-out agreement with Cairn Energy plc for five of its gas licences in the Southern North Sea. The natural gas-focused company signed the deal through Cairn’s wholly owned subsidiary Nautical Petroleum Ltd. TERMS Cairn will acquire a 60% interest in each of licences P2428 […]
Cairn notes oil find offshore Mexico
Cairn Energy plc announced an oil find on the joint venture Sayulita exploration prospect in Block 10 in the mid-deep water of the Cuenca Salina/Sureste Basin, offshore Mexico. The company added that preliminary estimates state that the new find may contain between 150 and 200Mboe in place. Cairn holds a 15% working interest through its […]
Cairn faces Indian petition over arbitration award
Cairn Energy plc said that the Indian Government had petitioned the Dutch Court of Appeal to set aside its arbitration award, which was granted unanimously in the company’s favour. TRIBUNAL The independent oil and gas exploration and development company with headquarters in Edinburgh added it had “full confidence” in its own position. “As previously advised, […]
Cairn to acquire onshore Egypt assets
Cairn Energy plc and partner Cheiron Petroleum Corp hope to purchase a portfolio of upstream oil and gas assets for US$646 million ($323m net to Cairn) in the Western Desert, onshore Egypt. The acquisition of hydrocarbon production, development and exploration interests from Shell Egypt NV and Shell Austria GmbH (Shell) will have an additional contingent […]