UK oil & gas player buying West of Shetland assets

UK-headquartred energy company Viaro Energy, through its wholly-owned subsidiary RockRose Energy, has executed a share purchase agreement with Spark New Energies Limited (Spark) for the acquisition of Spark Exploration UK, which will enable it to add a batch of assets located West of Shetland to its portfolio.

Map of the acreage position in the West of Shetlands; Source: Spark New Energies

According to Viaro Energy, the acquisition of Spark Exploration UK (P2412) Limited, which holds a 50 per cent interest in licence P2593 located West of Shetland, entails a 50 per cent interest in the Tuck gas appraisal opportunity, estimated to contain prospective recoverable resources of 87 mmboe net to Viaro’s interest and a 50 per cent interest in each of the BoulmerCherry and Sammy exploration prospects, containing estimated prospective recoverable resources totalling 280 mmbbls net to Viaro’s interest.

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