Endeavour International Corporation END, Down 0.90% at the end of the trading session
Endeavour International Corporation
Endeavour International Corp. said Tuesday it abandoned a North Sea petroleum well after it failed to encounter commercial amounts of hydrocarbons.The Maureen appraisal well located in Block 16/29a in the United Kingdom Central North Sea, which has been plugged and abandoned, was drilled to a total depth of 9,281 feet. Shares of Endeavour fell 11 cents, or 8.2 percent, to $1.23.
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Endeavour International Corporation is an independent oil and gas company engaged in the acquisition, exploration and development of energy reserves. As of December 31, 2008, the Company’s exploration portfolio consists of production licenses in both the United Kingdom and Norway sectors of the North Sea and the United States. As of December 31, 2008, it had proved reserves of 32,797 million cubic feet (MMcf) of natural gas and 3,555 thousands of barrels (Mbbls) of crude oil, condensate and natural gas liquids (NGLs), for a combined 9,022 million barrels of oil equivalent (MBOE). Nearly 75 % of its proved reserves are located in the United Kingdom as of December 31, 2008. The Njord and Brage fields each contributed approximately 17% of its 2008, production with 590 and 544 MBOE, respectively. In May 2009, the Company sold its subsidiary Endeavour Energy Norge AS, to VNG- Verbundnetz Gas AG.
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