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BRIEF-Oil Search buys oil assets in Alaska for an acquisition payment of $400 mln‍​‍​
October 31, 2017 / 10:55 PM / 24 days ago

BRIEF-Oil Search buys oil assets in Alaska for an acquisition payment of $400 mln‍​‍​

Nov 1 (Reuters) - Oil Search Ltd:

* Acquires oil assets in Alaska North Slope‍​

* Deal for an acquisition payment of $400 mln‍​

* Acquisition, exploration, appraisal & development costs to be funded by existing cash, cash flows and additional financing facilities

* Will assume operatorship of assets in June, 2018‍​

* To buy assets from privately-owned companies Armstrong Energy LLC and GMT Exploration Company LLC

* Has also entered into a cooperation agreement with Halliburton

* Nanushuk’s purchase & development & LNG expansion in PNG to not impact dividend policy nor need additional equity to be raised ‍​ Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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