|By PR Newswire||
|February 7, 2014 02:00 AM EST||
HOUSTON, Feb. 7, 2014 /PRNewswire/ -- Endeavour International Corporation (NYSE: END) (LSE: ENDV) ("Endeavour" or the "Company") today announced the East (E2) and West (W1) development wells at Rochelle, a gas-condensate field in the U.K. North Sea, have been fully completed and tied-in to the production manifolds.
During the restart of production, a valve was discovered stuck in the 'shut' position on the outlet side of the Rochelle production manifold. An attempt to open the valve manually was unsuccessful and the operator is in the process of securing an intervention vessel to open the valve. As part of the final installation and start-up of the E2 well, the W1 well was shut-in earlier this year. Weather in the North Sea continues to be a challenge for service vessels to perform the work necessary to get Rochelle back on production. This unanticipated downtime will negatively affect the Company's daily production rates for the first quarter of 2014.
"While the current situation regarding the Rochelle infrastructure is frustrating, operating safely within the North Sea environment is paramount. In no way does this affect the field's long-term production capacity or reserve potential," said William L. Transier, chairman, chief executive officer and president. "We are confident that the valve will be repaired and that the field's production will resume. As we learn more details regarding the timing of this work, we will communicate that information to our investors."
The Rochelle field came on-line in October of 2013. Endeavour has a 44% working interest in the Rochelle field located in Blocks 15/26b, 15/26c and 15/27.
Endeavour International Corporation is an international oil and gas exploration and production company focused on the acquisition, exploration and development of energy reserves in the North Sea and United States. For more information, visit www.endeavourcorp.com.
SOURCE Endeavour International Corporation
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