EnQuest starts shutting down the Eagle discovery farm located in the UK North Sea
Consideration is in the form of a nominal $1 (one dollar) payment due to EnQuest on completion plus a full carry of all costs from completion of the transaction through to first oil in relation to the 15% interest. Completion is expected during the second quarter of 2021, subject to customary regulatory and third-party approvals.
EnQuest currently has no gross assets, reserves or profits attributable to the Eagle discovery.
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