Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/by_province/north_sea_rim/cairn-acquires-additional-interest-in-the-kraken-d.shtmlCairn acquires additional interest in the Kraken development
Cairn Energy through its wholly owned subsidiary, Nautical Petroleum Limited, has acquired an additional 4.5% interest in the Kraken development in the UK North Sea
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Cairn Energy through its wholly owned subsidiary, Nautical Petroleum Limited, has acquired an additional 4.5% interest in the Kraken development in the UK North Sea from First Oil plc bringing Cairn's total working interest to 29.5%.
Cairn and EnQuest PLC, the operator of the Kraken development, are both taking up First Oil's interests pro-rata to their holdings prior to the transaction. EnQuest's interests will increase to 70.5% following the transaction.
