New: Buy Now on Thomas and Pay Over Time with Credit Key   Learn More

Endeavour Closes Bacchus Transaction

HOUSTON, Feb. 24, 2011 - Endeavour International Corporation (NYSE Amex: END) (LSE: ENDV) today announces that its wholly owned subsidiary, Endeavour Energy U.K. Ltd., has received all the approvals necessary to finalize the acquisition of an additional 20% working interest in the Bacchus field in the North Sea from Shell U.K. Limited. As a result of the transaction, Endeavour has a total working interest of 30% in the project. The Field Development Plan (FDP) was approved in June 2010 and first oil is expected in mid 2011.

The Bacchus project remains on schedule and is expected to produce approximately 4,000 - 5,000 barrels of oil per day net to Endeavour when fully on production. The pipeline riser has been installed on the Forties Alpha platform and the 6.5 kilometer subsea bundled pipeline construction has been completed. The pipeline, complete with its end manifolds, are scheduled for launch from Wick on the East coast of Scotland in early March.

"This additional investment in Bacchus represents significant oil production for the company in 2011," said William L. Transier, chairman, chief executive officer and president. "Bacchus is the first in a series of development projects that will provide substantial growth for the company over the next few years."

Endeavour International Corporation is an oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea and the United States. For more information, visit

SOURCE Endeavour International Corporation

CONTACT: Investor Relations, Mike Kirksey, +1-713-307-8700, or Darcey Matthews, +1-713-307-8711, both of Endeavour International Corporation; or UK Media, Philip Dennis, +44 (0) 207 861 3919, or Henry Lerwill, +44 (0) 203 861 3169, both of Pelham Public Relations, for Endeavour International Corporation

Web Site:

More from Electronic Components & Devices

All Topics