The field, operated by Denmark's Maersk Oil, is located in the British part of the North Sea and produces 8,000 barrels of oil equivalent per day, the company said.
Sale includes company’s 24% interest in license 12/06 in Denmark, which holds the Broder Tuck and Lille John discoveries, and its exploration licenses in the U.K., Germany and the Netherlands.
Husky Energy Inc., MEG Energy Corp. and others are selling assets or slowing light and conventional oil E&P, even while continuing with oil sands projects that are losing money, Reuters said.
Although M&A and A&D activity has been down lately, some believe change is coming.
PDi, which provides multi-discipline engineering and project management for the oil and gas industry, was acquired by Ceona in 2012 to augment Ceona Group.
The country received three bids for deep sea oil and gas drilling in 20 offshore blocks in the Ionian Sea and south of the island of Crete last summer and unsealed the bids earlier this week.
Gas project in New South Wales delivered "disappointing gas flow" and "the economic returns to support the investment of approximately AU$1 billion were not adequate," the company said, Reuters reported.
The disposition included 6,739 acres of developed and undeveloped land at Kerrobert and mineral rights associated with 10,881 acres of undeveloped land around Edam, Saskatchewan.
Current production is ranging between 4,500 and 5,000 boe/d.The assets also have multiple additional development opportunities in the Notikewin and Falher C formations.
Alternatives include selling all or some assets; selling the company or merging with a third party; carrying out another transaction with a third party or alternative financing.
The agreements cover blocks PM328, SB307/308 and gas-holding areas in SB303 with an effective date of July 1, 2015, Lundin Petroleum said in a news release.
At closing, Athabasca forecasts about C$900 million of liquidity with a net cash position of about C$80 million adjusted for debt.