Press Esc to close

WorldOil

World Oil News Center



Hyperdynamics completes sale of offshore Guinea concession interest to Tullow

HOUSTON -- Hyperdynamics Co announced that its wholly owned subsidiary, SCS has completed the previously announced sale of a 40% gross interest in the company' s oil and gas exploration concession offshore Guinea to Tullow Guinea., a subsidiary of Tullow Oil.

Guinea' s Ministry of Mines and Geology formally approved the sale by issuing an Arrete in December, 2012 and Tullow has transferred the $27 million cash payment to SCS.

The parties intend to begin drilling a well to test a deepwater fan prospect in the concession before April, 2014. Tullow will also carry SCS share of costs associated with an appraisal well of the initial exploration well, if drilled, subject to an additional gross expenditure capital of $100 million.

01/02/2013

 

Bookmark and Share


WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

MEDIA CENTER

By Digital Publisher

Drill Bit Classifier World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...

ENERGY EVENTS

Upcoming Events