Rockhopper announced yesterday that it has now closed its acquisition of two Egyptian assets from Australia’s Beach Energy. This sees the company paying US$11.9m cash for net production of 1.1mboe/d and 2P+2C of 4.9mmboe (we assume 90% oil). This is all from a 22% interest in the Abu Sennan asset – a group of four onshore fields operated by Kuwait Energy (other partner is Dover Investments). OPEX is US$8/boe, and there is an existing US$25m of net cost recovery for Rockhopper to b
17 Aug 2016
Closure of Egypt acquisition
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Closure of Egypt acquisition
Rockhopper Exploration plc (RKH:LON) | 13.4 0 1.1% | Mkt Cap: 85.7m
- Published:
17 Aug 2016 -
Author:
Daniel Slater, CFA -
Pages:
3
Rockhopper announced yesterday that it has now closed its acquisition of two Egyptian assets from Australia’s Beach Energy. This sees the company paying US$11.9m cash for net production of 1.1mboe/d and 2P+2C of 4.9mmboe (we assume 90% oil). This is all from a 22% interest in the Abu Sennan asset – a group of four onshore fields operated by Kuwait Energy (other partner is Dover Investments). OPEX is US$8/boe, and there is an existing US$25m of net cost recovery for Rockhopper to b