July 6, 2018 / 9:41 AM / a month ago

Spirit Energy to take over operating North Sea Babbage gas field

LONDON, July 6 (Reuters) -

* Spirit Energy to become operator of Babbage gas field in the British North Sea in which it holds 13 percent

* Premier Oil sold its 47 percent stake in Babbage to private-equity backed Verus Petroleum for 62.9 million pounds ($83.3 million) in April

* Dana Petroleum holds other 40 percent of Babbage

* Babbage’s year-to-date average production is around 5,600 barrels of oil equivalent per day (boe/d)

* Spirit will also operate the Cobra discovery, in which it owns a 50 percent stake

* Company plans to drill an exploration well at nearby Python prospect in the second quarter of 2019

* Centrica owns 69 percent of Spirit Energy and Stadtwerke Muenchen owns 31 percent

* Changing the operator is subject to Premier-Dana deal completion ($1 = 0.7556 pounds) (Reporting by Shadia Nasralla Editing by Edmund Blair)

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