Assets to be acquired include production from over 1230 horizontal wells, 157 line of site wells, and 44 permitted wells all in the core of the Haynesville Shale.
The company and partners Wintershall Dea and Petoro have made a commercial gas discovery in production licence 1128, estimated at between two and eleven billion standard cubic metres of recoverable gas, or about 12.6 – 69.2 million barrels of oil equivalent.
The company intends to fully exit Russia following a principle decision of the Management Board, approved by the Supervisory Board.
The CT&P business fits well within Archer’s overall strategy to grow our drilling and well services in UK and to further grow our integrated P&A service offering.