Antrim Energy has received $9.7million in costs owed by joint venture partners following the completion of the Fyne and Erne abandonment programme in the North Sea.
Antrim permanently abandoned three suspended wells on the Fyne licence and one suspended well on the Erne licence in September. Partners were Enegi Oil and
ABTechnology.
The Calgary-based company also said it expected to obtain the 100% working interest in the frontier exploration licence 1/13 from Kosmos Energy. Antrim has high hopes for the area in the Porcupine Basin offshore Ireland’s west coast.
Antrim has, in conjunction with Kosmos, identified numerous leads in the FEL 1/13 licence.
The company will be seeking to farm-out a portion of its interest in the licence to a new operator. Participants’ interest in the recent Ireland
2015 Atlantic Margin Licensing Round was very strong and the results, when announced, may have a further impact on the farm-out process.
Antrim said it remains on the lookout for acquisitions, if the right deal became available.