Bridge deal

By

 07 October 2011 01:29 GMT

Oslo-listed Bridge Energy has struck a $38.3 million deal to acquire a 50% stake in the producing Duart oilfield in UK ­waters from Nexen.

The acquisition will add 750 barrels per day to Bridge’s output and will be funded through cash and an expansion of the company’s existing reserve based lending facility.

Duart lies in Block 14/20 and produces via one subsea well tied back to Talisman’s platform.

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