Hague and London Oil (HALO) BV has completed the acquisition of Tullow Oil’s gas producing assets in the Dutch North Sea.
After the acquisition was given shareholder approval during HALO’s general meeting on November 1, the ownership of interests in Tullow’s offshore exploration and production licenses in the Dutch North Sea has now been transferred to HALO.
As a reminder, the initial deal between the two companies was agreed back in April. Specifically, the acquisition comprises interests in 12 licenses on the Dutch Continental Shelf (DCS) in the Northern Area and a suite of interests in the Joint Development Area in the western part of the DCS. The acreage spreads over 2,878 sq km which generated total net production of 2,900 boepd in 2016.