Rwe Dea to acquire 20% in west of Shetland drilling licenses

3/28/2013

Rwe Dea to acquire 20% in west of Shetland drilling licenses

BY FRANKFURT BUREAU

LONDON -- RWE Dea, said it will acquire 20% equity in drilling blocs in the United Kingdom continental shelf, West of Shetland. Financial details of the transaction weren't disclosed.

Valiant Causeway, with a 70% stake in the licenses, will remain operator, with the other 10% held by Sussex Energy. The blocs are located in the Judd Basin, and the project has an estimated volume of around 115 MMboe.

Dow Jones Newswires

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