Endeavour selling North Sea oil and gas assets
Houston-based oil and gas company, Endeavour International Corporation, has launched a marketing process in the U.K. for the sale of all or most of its North Sea oil and gas assets.
The company has engaged Blackstone Advisory Partners L.P. as the financial advisor in this process.
Endeavour said in the press release that it will consider a full range of options in order to unlock the value underlying its assets, including a sale of individual North Sea assets.
The company has also said that while it pursues the marketing process, it will remain focused on executing its operational plan.
Endeavour separately announced its proposed sale of most of the company’s U.S. assets, including bid procedures and notice of an auction, in a motion filed with the United States Bankruptcy Court for the District of Delaware on April 29, 2015.