Thursday, May 26, 2011

Shell and Maersk Oil offer farm in opportunity on the Danish Continental Shelf.

Shell and Maersk Oil are jointly offering up to 60% interest in the Elly and Luke development project located near the existing Tyra gathering, treating and transportation infrastructure. The Partners are in the advanced stages of planning for the combined development of the Elly and Luke discoveries that will deliver hydrocarbons into the Danish and Dutch gas transmission systems. The Luke and Elly fields are expected to yield mean recoverable gas resources of 180 BCF, with upside estimated up to 430 BCF. In addition, exploration prospects in the licenses have potential gas resources estimated up to 422 BCF. 

The online data room will be open until the bid deadline of Tuesday the 7th of June 2011.



VALUE OF THE PACKAGE:


60% in the fields is expected to be offered and is valued between $54-$90 million based on $3-$5/ BOE of resource potential.

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