Brief: Challenger Energy Announces Farm-Out Of 60% Of Area Off-1 Block To Chevron

Challenger Energy

06/03/2024 07:52

March 6 (Reuters) - Challenger Energy Group PLC  CEG.L :
    * FARM-OUT OF 60% OF AREA OFF-1 BLOCK TO CHEVRON
    * CHEVRON WILL ACQUIRE 60% PARTICIPATING INTEREST IN AREA
OFF-1
BLOCK, WILL ASSUME OPERATORSHIP OF BLOCK
    * CHEVRON WILL PAY TO CEG US$12.5 MILLION CASH ON COMPLETION
OF
TRANSACTION
    * CHEVRON TO CARRY 100% OF CEG URUGUAY'S SHARE OF COSTS
ASSOCIATED
WITH 3D SEISMIC CAMPAIGN ON AREA OFF-1, UP TO MAXIMUM OF $15
MILLION

Source text for Eikon:  ID:nRSF7842Fa 
Further company coverage:  CEG.L 

 ((Reuters.Briefs@thomsonreuters.com;))