Oil Search takes Armstrong option

SOME 18 months after Oil Search first made the surprise announcement it was fanning out from Papua New Guinea to Alaska’s brutally cold Northern Slopes in a deal to take operatorship of a swathe of acreage, the company has exercised its US$450 million to move to 100% of the Pikka Unit and Horseshoe play.

Oil Search takes Armstrong option Oil Search takes Armstrong option Oil Search takes Armstrong option Oil Search takes Armstrong option Oil Search takes Armstrong option

Alaska work on the front foot

 
On Friday, Oil Search announced it would tap into its existing $900 million of corporate debt facilities with an additional $300 million of credit lines being arranged to buy out Armstrong