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Bridge Energy farms down interest in UK North Sea Aragon license

LONDON -- Bridge Energy has completed an agreement with Agora Oil & Gas, 100% owned by Cairn Energy, and JX Nippon Exploration & Production for the farm-down of a 16.5% working interest in the P1763 Aragon prospect in the UK northern North Sea.

As a result of the transaction, all parties have agreed to participate in drilling a well to test the Aragon prospect prior to Q1 2015. Subject to transaction approval from the UK Department of Energy and Climate Change, Bridge will then hold a revised interest of 13.5%, with operator MPX North Sea at 22.5%, Agora Oil & Gas 30%, JX Nippon Exploration & Production 25% and Sorgenia E&P 9%.

01/04/2013

 

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