Nexen takes charge of UK block

Offshore staff

GUILDFORD, UK – MPX North Sea and Carrizo Oil & Gas have completed a farm-out of UK North Sea license P1659 (block 20/7) to Nexen Petroleum UK and Agora Oil & Gas (UK).

This follows approval from Britain’s Department of Energy and Climate Change.

The partners have agreed to drill a well to test the Bardolph prospect, which should spud this summer.

Revised block interests are Nexen (51% and new operator), Agora (19%), MPX (15%), and Carrizo Bardolph UK.

2/17/2012

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