BG Group to explore offshore Newfoundland


READING, United Kingdom -- BG Group has acquired three non-operated positions offshore Newfoundland from Repsol.

These acquisitions provide the company with access to early stage exploration in a proven prospective basin ahead of the first well being drilled later this year.

The three blocks—EL1123 (25%), EL1125 (10%) and EL1126 (10%)—are in the Atlantic Ocean, approximately 200 km from St. John's, Newfoundland.

The blocks are all operated by Statoil. Chevron also holds a stake in EL1125 and EL1126.

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