United to buy Rockhopper’s Egypt unit
United Oil & Gas Plc has entered an agreement to buy Rockhopper Egypt Pty Ltd from Rockhopper Exploration Plc for total consideration of US$16 million.
Both companies are in London.
The main asset of Rockhopper Egypt is a 22% working interest in the Abu Sennan concession operated by Kuwait Energy in Egypt’s Western Desert.
Production net to that interest last year was 813 boe/d.
Source: Oil & Gas Journal