1st Sep 2015 08:24
LONDON (Alliance News) - Rockhopper Exploration PLC on Tuesday said operations to drill a sidetrack well at the Guendalina field in the Mediterranean have started.
Rockhopper owns a 20% stake in the field, with Italian energy group Eni SpA owning the other 80% and acting as operator. The field is located in the northern Adriatic.
"We are pleased to mark continued progress in building our Mediterranean business with the start of drilling operations at Guendalina. We anticipate a significant increase in revenue following the completion of the sidetrack," said Rockhopper Chief Executive Sam Moody.
Shares in Rockhopper were down 5.0% to 52.47 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Rockhopper