UK’s Cairn makes second North Sea buyout

摘要

London—UK explorer Cairn Energy said June13 it has agreed to buy UK-focused NauticalPetroleum for GBP414 million ($645 million)in cash, its second North Sea acquisitionin a matter of months, as part of efforts tobalance its high-risk exploration strategy off-shore Greenland.The deal will boost Cairn’s stake in theNorth Sea Catcher area, which contains sev-eral oil discoveries, and provide Cairn with a25% interest in the Kraken field, another largeNorth Sea oil development.