Endeavour Announces Approval of the Rochelle Field Development Plan
28 Feb, 2011, 02:00 ET
HOUSTON, Feb. 28, 2011 /PRNewswire/ -- Endeavour International Corporation (NYSE Amex: END) (LSE: ENDV) is pleased to announce the United Kingdom Department of Energy and Climate Change (DECC) has approved the Rochelle Field Development Plan (FDP) for Block 15/27 in the Central North Sea, now known as East Rochelle. This approval represents phase one of the development of the Greater Rochelle area.
"This is a significant accomplishment in the Rochelle Field Development. We are very pleased that the DECC has shown their confidence in Endeavour's operating capability and approved our plan so we can move prudently toward first production at East Rochelle next year," said William L. Transier, chairman, chief executive officer and president. "With the added discovery announced in October 2010, we plan to integrate West Rochelle into this development plan, as phase two, with production estimated to begin in 2012."
Endeavour is operator of East Rochelle and holds a 55.6 percent working interest in the development. Nexen Petroleum UK Limited holds the remaining 44.4 percent interest. The current FDP calls for the subsea development to be linked by a 30 kilometer pipeline to production facilities on the Scott Platform. First production is planned for the second half of 2012.
Endeavour International Corporation is an international oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea and United States. For more information, visit http://www.endeavourcorp.com.
Certain statements in this news release should be regarded as "forward-looking" statements within the meaning of the securities laws. These statements speak only of as of the date made. Such statements are subject to assumptions, risk and uncertainty. Actual results or events may vary materially.
SOURCE Endeavour International Corporation
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