EnQuest To Grab Majority Stake In UK Oil Field Project

Law360, New York (April 26, 2012, 2:49 PM EDT) -- U.K. energy company EnQuest PLC has agreed to acquire an additional 15 percent stake in a North Sea energy project from a joint venture partner for up to $144 million, which would give the firm a majority stake in the project, EnQuest said Thursday.

EnQuest, an independent oil and gas producer that focuses on energy plays in the United Kingdom Continental Shelf, said it agreed to pay First Oil PLC $90 million to $144 million for the 15 percent stake in the Kraken oil project. The...
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