In November 2017 HALO acquired The Netherlands production, reserves and transportation/processing facilities of Tullow Oil Plc.
This transaction made HALO a producer of gas (& condensate) as well as being an equity participant in related mid-stream assets.
The Netherlands portfolio comprises interests in:
- the Joint Development Area (JDA);
- fields adjacent to the JDA;
- the Northern Area;
- the Western Gas Transport (WGT) pipeline and processing plant at Den Helder; and
- the WGT Extension pipeline
The acreage under license spreads over approximately 2,800 sq. km and the assets generated average net production of 2,391 boepd in 2018.
The assets benefit from stable field production, long history, positive outlook and the Company sees potential for significant upside in proven undeveloped, probable reserves, contingent resources and prospective resources.
Gas produced from the Netherlands Assets trades in line with the Title Transfer Facility (“TTF”), a virtual trading point for natural gas in the Netherlands.